Ontario’s Fall Economic Statement demonstrates fiscal prudence; focus must remain on investment attraction and job creation

(Toronto – November 6, 2025) – Daniel Tisch, President and CEO of the Ontario Chamber of Commerce (OCC), issued the following statement in response to the Government of Ontario’s 2025 Economic Outlook and Fiscal Review, A Plan to Protect Ontario:

“This Fall Economic Statement strikes a prudent balance — managing fiscal pressures while responding to global trade uncertainty,” said Daniel Tisch, President and CEO of the OCC. “The next steps must be to accelerate business investment in productivity further, and to craft a strategy to attract, retain and develop Ontario’s talent— for the benefit of businesses, workers and communities.”

The OCC recognizes several measures that will support Ontario’s business community:

• Strengthening supply chain resilience through an additional $100 million for the Ontario Together Trade Fund to help SMEs diversify and trade with new markets.
• Protecting Ontario’s key industries with the advancement of the $1 billion Protect Ontario Financing Program, providing liquidity support to businesses in sectors affected by tariffs — including steel, aluminum, copper, and automotive manufacturing.
• Enhancing Ontario’s manufacturing competitiveness through additional flexibilities in implementing the Ontario Made Manufacturing Investment Tax Credit, which was made more generous with an enhanced 15 percent rate in Budget 2025.

While today’s update demonstrates fiscal prudence and a commitment to competitiveness, the OCC urges continued action to unlock Ontario’s full economic potential:

• Modernizing Ontario’s tax and spending framework by building on the government’s commitment to develop a Tax Action Plan to update personal and corporate income taxes. The OCC welcomes this effort to attract investment and enhance competitiveness and calls on the government to complement it with a comprehensive spending review and continued simplification of the provincial tax system to improve efficiency, predictability, and business confidence.
• Securing Ontario’s talent pipeline by increasing base operating funding for postsecondary institutions, fully funding enrolment growth, and fostering stronger government–industry–academic partnerships to make Ontario a global magnet for innovation.
• Supporting small business competitiveness and digital transformation through targeted funding for AI adoption and improved access to capital.

The Ontario Chamber of Commerce will study the Fall Economic Statement closely and seek feedback from its members. Directionally, it demonstrates prudent fiscal management and a focus on business fundamentals. The OCC looks forward to working with the government to sustain fiscal and economic momentum, advancing policies that foster a more innovative, competitive, and resilient Ontario economy.

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About the Ontario Chamber of Commerce

The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, non-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC convenes, mobilizes and empowers business and local chambers in pursuit of its purpose: to bring inclusive and sustainable prosperity to Ontario’s businesses, workers, and communities.

For more information, please contact:

Andrea Carmona
Senior Manager, Public Affairs
Ontario Chamber of Commerce
andreacarmona@occ.ca | Mobile: (647) 234-0255