OTA applauded the release of the 2025 Ontario budget, released by the Ford Government today, which focuses on providing investment and support in the wake of trade and economic uncertainties.
The budget announced the creation of the Protecting Ontario Account, a $5 billion fund designed to provide businesses with critical support to protect jobs, transform businesses and grow strategic sectors of the economy that are facing significant tariff-related business disruptions. The government states this fund will provide immediate liquidity relief as an emergency backstop for Ontario businesses that have exhausted available funding.
This comes in addition to previously announced business relief measures. For example, as announced in November 2024, and starting in 2025, WSIB rates have been reduced to the lowest in half a century, while the WSIB will distribute rebates of $4 billion in surplus funds to safe employers in 2025 – a move OTA lobbied for in late 2024. In addition, deferring select provincially administered taxes for six months from April 1, 2025, to October 1, 2025, to help businesses weather the economic turmoil caused by the impact of U.S. tariffs.
Additionally, the Ontario government temporarily cut the Gasoline Tax rate by 5.7 cents per litre and the Fuel (diesel) Tax rate by 5.3 cents per litre on July 1, 2022, and has extended the cuts four times. The latest of these extensions is set to end on June 30, 2025. The government is now introducing legislation that would amend the Gasoline Tax Act and the Fuel Tax Act to keep the provincial rates of tax on gasoline and fuel at 9 cents per litre, permanently.
“The announcement to permanently extend fuel tax relief for the trucking industry is a measure all Ontarians should applaud,” said OTA president & CEO Stephen Laskowski.
Essentially every item or product Ontarians have was moved by truck. Fuel is typically the second leading cost behind labour for the trucking industry. This announcement helps fight inflation and assists trucking companies dealing with cash flow challenges during the tariff war with the United States. OTA applauds the Government of Ontario for its leadership and assisting the trucking industry and consumers in these challenging times.”
The province will also bolster the Skills Development Fund by another $1 billion over the next three years. Since, 2023 OTA has supported the Explore Trucking Careers program, administered by the Toronto Business Development Centre and supported through the Skills Development Fund.
Previously announced infrastructure projects were also covered in the budget, such as a continued commitment to building Highway 413 and the Bradford Bypass, feasibility work for a Highway 401 tunnel expressway, along with upgrades to Highways 11&17 in the North and Highway 401 in Eastern and Southwestern Ontario.
“We applaud the Premier and his cabinet ministers for their ongoing efforts to fight for the interests of the Ontario business community,” said OTA Chair Mark Bylsma.
“If this tariff war worsens and sectoral specific measures are required, the trucking industry will be ready to look at international toll bridge relief and other regulatory matters,” said Bylsma. “The trucking industry has huge economic challenges even before the advent of tariffs – widespread misclassification, unsafe fleets, and tax evasion, all need to be dealt with immediately.”
Over the coming weeks OTA will continue to work with the government of Ontario and will report to members to additional details and developments coming out of Budget 2025.