New Economy Canada reacts to Ontario’s 2025 budget
Press Release
TORONTO, May 15, 2025 – In response to Ontario’s 2025 provincial budget, which included the following commitments:
- Investing $500 million in a new critical minerals processing fund to ensure that minerals mined in Ontario are refined in Ontario.
- Investing $10.9 billion over 12 years in energy efficiency programs including the Home Renovations Savings program.
- Expanding the Indigenous Opportunities Financing Program from $1 billion to $3 billion.
- Extending and expanding the Ontario Made Manufacturing Investment Tax Credit by $1.3 billion over three years.
- Giving the green signal to build the first of the four Small Modular Reactor at Darlington.
Alexa Young, New Economy Canada’s Vice President, said:
“We welcome the Ontario government’s continued commitment to people and our economy by keeping a focus on getting things built in Ontario. We can help Ontarians, while strengthening our energy and economic security, by prioritizing critical mineral projects, clean energy infrastructure, and tech that helps manufacturing, construction, mining and other industrial sectors decarbonize and optimize.
We urge the Ontario Government to keep working with our federal government and the other provinces on a Team Canada approach to supporting workers and businesses through these challenging times and making our economy stronger and more resilient in the long-term.”
About New Economy Canada:
New Economy Canada is a non-partisan initiative uniting business, labour, and Indigenous leaders committed to driving Canada’s economic transition. Our members represent diverse industrial sectors acting now to unlock the power of resilient and affordable clean energy and technology to grow investment and jobs. A full list of our members can be found at neweconomycanada.ca.
Our quickly growing membership employs or represents over 410,000 workers and generates annual revenues of over $200 billion CAD.
For further information, please contact:
Rebecca Spring
Director of Communications
New Economy Canada
Rebecca.spring@neweconomycanada.ca
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