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TORONTO, November 2, 2023 - Today’s Fall Economic Statement from the Ontario
Government echoes its commitment to investing in infrastructure and Ontario’s skilled
trades workforce.
“The Provincial Building and Construction Trades Council of Ontario welcomes Minister
Bethlenfalvy’s announcement that the provincial Government will be establishing an
Ontario Infrastructure Bank that will help create new employment opportunities for
skilled trades workers, as outlined in today’s Fall Economic Statement,” said Marc
Arsenault, Business Manager of the Provincial Building and Construction Trades
Council of Ontario (PBCTCO). “Such a bank can be an excellent catalyst for the
construction of new housing, roads, and energy infrastructure to support our growing
population.”
It was announced that the establishment of an Ontario Infrastructure Bank will help to
finance capital investments in infrastructure, above and beyond the $184 billion
earmarked over the next decade, as outlined in the 2023 Budget. Initially, the
Government will fund $3 billion (CAD) with projects expected in the spring.
“As well, the Council appreciates the work being done on a proposed regulatory
framework for target benefits. In consultation with the Multi-Employer Benefit Plan
Council of Canada (MEBCO), the Building Trades recognize that much work still needs
to be done to make proposed legislation suitable for Ontario’s skilled trades workforce
as well as retirees who have dedicated their lives towards building-up our province with
the expectation of enjoying a healthy retirement with secure pensions. The Council is
fully committed to continue to work closely with the Government on the proposed
framework to keep workers at the forefront of the conversation and any final policy
outcomes,” stated Arsenault.
Additionally, the Building Trades welcomed the enhancement of the Skills Development
Fund (SDF) with a fourth round of funding, at $160 million through the training stream
and additional new investments in Transportation Infrastructure.
The Provincial Building and Construction Trades Council of Ontario represents
150,000 construction trades workers throughout the province.
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For more information, please contact Kate Walsh, Executive Director of Communications (kate.walsh@ontariobuildingtrades.com, 613-298-0652)