On January 9th, the Brampton Board of Trade hosted Ontario’s Minister of Finance, the Honourable Peter Bethlenfalvy, for a discussion on key issues impacting Brampton and the province. The conversation, led by CEO Jaipaul Massey-Singh, addressed critical topics tied to Brampton’s growth, economic resilience, and future prosperity. Here are the key takeaways:
- Minister Bethlenfalvy outlined Ontario’s efforts to maintain economic stability amid evolving challenges. He emphasized the importance of Ontario’s trade relationship with the U.S., noting Premier Ford’s campaigns in 30 states to strengthen ties. He also stated that retaliatory tariffs remain a possibility.
- Shifts in federal immigration policy, particularly concerning international students, have strained Brampton’s resources. The Minister criticized the federal government’s handling of the issue.
- The province remains committed to Brampton’s rapid growth, focusing on access to education as a cornerstone of economic and innovation hubs. While funding specifics remain uncertain due to federal cost-sharing challenges, the Hazel McCallion LRT extension is a provincial priority, with funding commitments reaffirmed.
- To enhance Ontario’s competitiveness, the Minister addressed rising real estate costs for businesses, productivity challenges, and support for entrepreneurs. He also highlighted Ontario’s improved credit standing.
- When asked about a fiscal agreement with the Region of Peel, the Minister rejected the idea of a “New Deal” but acknowledged the need for broader funding transfers to address infrastructure and social service disparities.
- He cited a 38% increase in funding to tackle homelessness in Peel Region, though BBOT notes that just maintaining housing services requires $4 billion over the next decade. Additionally, he cites the province’s Housing-Enabling Water Systems Fund which contributed significantly to projects like Riverwalk.
GO 2.0: Transit Expansion
Shortly after the event, Premier Ford announced directives to Metrolinx to explore expanding GO Transit service along the Kitchener and Milton lines by diverting freight traffic. Dubbed “GO 2.0,” the plan includes potential new lines, stations, and a freight bypass along Highway 407, aligning with a 2015 feasibility study estimating a $5.3 billion cost. After our event, Jaipaul Massey-Singh, CEO of the Brampton Board of Trade, referenced this announcement in his formal deputation to the Ministry of Finance during their official Pre-Budget consultation in Brampton.
Advocacy for Budget 2025
Following the Minister’s visit, CEO Jaipaul Massey-Singh presented formal priorities during the Ministry of Finance’s Pre-Budget consultation. Here is what he presented:
Transit Investments
- The Hazel McCallion LRT extension into downtown Brampton remains a priority, alongside the Queen Bus Rapid Transit Corridor to ease congestion.
- Expanded GO train service, including two-way, all-day operations, is essential. The GO 2.0 freight bypass exploration is welcomed.
Postsecondary Education
- Federal policy changes have strained public institutions like Sheridan College and Algoma University. Sustainable funding models and campus expansions are critical to support growing demand. The Province must support our postsecondary sector.
Healthcare
- Brampton’s healthcare infrastructure must scale with its population. Investments in Peel Memorial Hospital and a medical school are promising, but a Cancer Care Centre at Brampton Civic Hospital are essential for Brampton to ensure equitable access to care.
Minister Bethlenfalvy’s visit underscored the province’s commitment to Brampton’s growth through strategic investments in infrastructure, transit, education, and healthcare. As we approach Budget 2025, it is crucial to prioritize sustainable funding and policies that position Brampton as a leader in innovation and economic resilience.
Have questions or feedback? Want to share your wishes for Budget 2025? Contact me at vsingh@bramptonbot.com.
