The Ontario Chamber of Commerce (OCC) has released its budget submission for Budget 2026, emphasizing the need for bold, growth-enabling investments and structural reforms in Ontario’s economy. Daniel Tisch, President and CEO of the OCC, stated, “Ontario has strong economic foundations, but they are being tested.” The OCC’s recommendations include prioritizing tax credits and exemptions to attract investment and expanding Ontario’s talent pipeline.
Meanwhile, on the same day, the Quebec Finance Minister tabled the province’s eighth budget. The Canadian Federation of Independent Business criticized this budget for lacking support for small and medium-sized enterprises (SMEs). François Vincent, a representative of the organization, remarked, “If the government wants to prioritize support for businesses, especially SMEs, it must address its unfair tax regime and its crippling regulatory and administrative system.”
Despite the criticisms, some sectors welcomed the budget’s provisions. The Quebec Manufacturers and Exporters praised a $375 million package aimed at supporting businesses and encouraging innovation. Additionally, the Quebec Forest Industry Council highlighted $147 million allocated for silvicultural work in public forests as a positive step for the sector.
However, the Quebec Employers Council noted the absence of significant new spending in the budget, indicating a cautious approach from the government. Véronique Proulx criticized the budget, stating, “Adding money to various targeted programs will neither alleviate the excessive tax burden on our businesses, nor reduce the bureaucratic complexity of accessing these funds.”
Health spending in Quebec is projected to increase by 4.1 percent, while funding for university education is set to rise by 5.5 percent for the 2026-2027 academic year. However, funding per student is projected to decline from $12,034 to $11,841, raising concerns about the sustainability of educational quality.
As observers analyze these budget updates, they note that the Quebec Federation of Chambers of Commerce does not expect significant impacts on companies’ investment decisions. The government faces pressure to demonstrate that it can effectively support economic growth and address the needs of various sectors.
Details remain unconfirmed regarding how these budget measures will be implemented and their potential long-term effects on the economies of Ontario and Quebec.
