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Sale of Hydro One Shares Will Be ReInvested in Infrastructure, Job Creation and Economic GrowthOntario has dedicated $3.2 billion from the sale of Hydro One shares in 2015 to the Trillium Trust, a fund for infrastructure projects that will help create jobs and strengthen the economy.
This follows on the government's 2015 Budget and Fall Economic Statement commitment to dedicate all net revenue gains from the sale of Hydro One shares to the Trillium Trust, to build key vital, long-term infrastructure projects and transportation across Ontario.
Ontario previously credited $1.35 billion in net proceeds from the sale of the Province's shares in General Motors, bringing the total balance of the Trillium Trust to over $4.5 billion. Additional net revenue gains from unlocking value from Hydro One has allowed the government to increase dedicated funding to Moving Ontario Forward by $2.6 billion in the 2015 Budget, bringing the total to $31.5 billion over a 10-year period, and supported an increase in total infrastructure spending to an unprecedented $160 billion over a 12-year period.
Ontario is on track to generate approximately $9 billion in gross proceeds and other revenue benefits from broadening the ownership of Hydro One, while remaining the largest single shareholder. Taxpayers continue to benefit from dividends in the company, allowing the government to increase investments in infrastructure programs such as GO Transit Regional Express Rail and the Ontario Community Infrastructure Fund without further raising taxes, increasing debt or cutting public services.
By investing more than $160 billion over 12 years, Ontario is making the largest investment in public infrastructure in the province's history. These investments will support 110,000 jobs, on average, every year across the province, with projects such as hospitals, schools, roads, bridges and transit. Since 2015, Ontario has announced support for more than 475 projects that will keep people and goods moving, connect communities and improve quality of life. To learn more about infrastructure projects in your community, go to Ontario.ca/BuildON.
Maximizing the value of provincial assets is part of the government's economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest infrastructure investment in hospitals, schools, roads, bridges and transit in Ontario's history and is investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
Barn Quilt Trail in Prince Edward County -
Prince Edward Regional Trail Committee supports PEC County - see their FB pagePrince Edward RTC Meets to support a PEC Application to Ontario 150 -
The funding application is to improve the surface of the Trail that Rotary did not do, establish five staging areas with parking and signage and add signage along the Trail. In addition we have just completed a new Facebook site for the Millennium Trail.
Please join if you would like and also encourage others who are
interested. This site provides currently available information and can be
used to communicate with everyone on a continuing basis.
Information on public meetings will be added.