Ontario Introduces 2015-2016 Budget: Building Ontario Up

Introduction

On Thursday, April 23, 2015, the Ontario Minister of Finance, Charles Sousa, introduced the province's 2015-2016 budget "Building Ontario Up". The key theme is economic growth fueled by new investments in infrastructure. As the Minister stated in his speech to the Legislature:

The very best thing we can do to make sure our economy continues to grow and produce jobs is to build the roads, bridges and transit that a 21st century economy needs (p. 5).

This bulletin provides a summary of key elements of the budget that may be of interest to BLG's clients and contacts.

Highlights of the 2015-2016 Budget

• Broaden ownership of Hydro One through an initial public offering ("IOP") with the province being the largest shareholder and one owner having no more than 10% of the total shares of the company;