Ontario’s 2026 budget continues to prioritize the new economy
Press Release
(OTTAWA, ON) March 27, 2026 – Ontario’s 2026 budget underscores a focus on the building blocks of the new economy: clean, reliable electricity and transmission, critical minerals and EV development, and support for sectors and workers affected by tariffs.
In response, Jason Clark, VP of Government Relations at New Economy Canada, said:
“In a time of upheaval and uncertainty, one thing is clear: electricity and electrification are an economic imperative and the backbone of continued growth in Ontario. Reliable, affordable power lowers costs for traditional industries and is now a prerequisite for attracting new investment as companies choose where to build and expand. It’s also a trillion-dollar opportunity, driving growing demand for the critical minerals, metals and batteries that make electrification possible.
The 2026 budget builds on Ontario’s leadership rallying provincial and territorial governments to advance new transmission and energy corridors. These efforts are essential to delivering reliable, affordable and clean power to large industrial users, which will help attract new projects, jobs and long-term competitiveness in communities across the province.
The focus on critical minerals and an unwavering commitment to the rapidly growing EV manufacturing ecosystem aligns with global demand. Rising prices at the pump will only accelerate demand for EVs among consumers in Canada and abroad. It’s critical that Ontario’s auto sector continues to adapt to compete and capture the opportunity.
At the same time, tariffs have put significant pressure on Ontario’s auto and steel sectors — industries that are foundational to our economy. Continued provincial support to protect workers and support these sectors to reorient will be critical to maintaining a strong industrial base.
Taken together, these ongoing investments reflect a clear focus on the foundations of a resilient, competitive economy. In an era of geopolitical and trade uncertainty, strengthening Ontario’s electricity system and industrial capacity is one of the most effective ways to secure long-term growth and economic resilience.”
New Economy Canada is a non-partisan initiative uniting over 60 companies, labour unions and Indigenous organizations, all committed to accelerating investment in Canada’s clean economy. Our members employ or represent over 485,000 workers. https://neweconomycanada.ca
For media inquiries:
Rebecca Spring, Senior Director of Communications, New Economy Canada Rebecca.spring@neweconomycanada.ca
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