The Ontario Government recently released its 2026 Budget, “A Plan to Protect Ontario, citing the priority of building a resilient and self-reliant economy in the province. The Brampton Board of Trade was pleased to take part in pre-budget consultations to advocate on behalf of our community and applauds the government’s aggressive measures to shield the provincial economy from global trade volatility and lower the cost of doing business. We, however, are concerned about the long-term viability of the regional transit network, the sustainability of our talent pipeline and affordability in the year to come.
Pro-Business Foundations and Strategic Investment
The 2026 Budget introduces several high-priority measures that the BBOT has long advocated for to support our local manufacturing and logistics sectors, including:
- Small Business Tax Relief: The proposal to cut the small business corporate income tax rate by over 30% (from 3.2% to 2.2%) provides $1.1 billion in direct relief, allowing Brampton’s SMEs to reinvest in growth.
- The Protect Ontario Account: The creation of a $4 billion investment fund to “crowd in” private capital for AI, life sciences, and advanced manufacturing aligns perfectly with Brampton’s position in the Innovation Corridor.
- The Buy Ontario Act: By prioritizing Ontario-made goods in public procurement, the government is creating a powerful home-court advantage for our local supply chain.
Although we agree these are appropriate areas of focus to promote economic growth, it’s important to note that swift execution is critical. BBOT will work to ensure there is clarity and no obstacles for local businesses to access these resources.
Infrastructure: A Tale of Two Networks
While the Board of Trade welcomes the historic investments in transportation, there is concern about the $63 billion transit plan.
While the budget touts a ‘GO 2.0’ vision, internal reports obtained via FOI indicate a significant watering down of the rapid-transit promises for the Kitchener Line. The apparent abandonment of electrification in favor of a diesel-only model – combined with the addition of new stops at Woodbine and Mount Dennis -risks turning our ‘rapid’ transit into a slower, stop-and-go commute. Brampton businesses and workers cannot settle for a 20th-century diesel solution for a 21st-century economy – our community requires initiatives that meet the needs of our projected growth and importance to the provincial economy. We were also disappointed to see no movement on the Queen Street/Highway 7 BRT, improving transit along this critical east-west corridor would ease congestion while supporting the needs of students, workers, and employers in both Brampton and York Region.
The Talent and Affordability Gap
The Board of Trade also notes, with concern, the lack of new investment in postsecondary education. As Brampton scales its tech and advanced manufacturing sectors, a decline in real spending for colleges and universities threatens the very talent pipeline our members rely on.
Furthermore, while the HST rebate on new homes (up to $1M) is a positive step for housing, the budget offers limited broad-based relief for the general cost-of-living crisis, which continues to place immense wage pressure on local employers, a concern identified in our Business Confidence Index Survey with 38% of surveyed business leaders citing cost of living as their primary business concern.
We will also continue to advocate alongside our colleagues at the Metamorphosis Network to ensure that social service funding increases in Peel Region to ensure that workers have the resources they need to navigate challenging economic circumstances.
Moving Forward
The Board of Trade will continue to engage with the provincial government to ensure that the “Plan to Protect” includes a modernized, electrified Kitchener Line, a sustainable funding model for the institutions that train our future workforce, and addresses the challenges of affordability in our community. We look forward to working with officials from all parties toward our mutual success.