GM Plant Closing in Ontario Is an Isolated Event, Finance Minister Says

The transcript discusses the impact of General Motors' departure from Oshawa, Ontario, and the provincial government's immediate and long-term responses. Ontario's Finance Minister, Vic Fidelity, outlines measures such as re-employment programs and tax incentives to attract investment. The discussion also covers Ontario's economic diversification, climate change strategies, and the challenges posed by US economic policies. The government aims to reduce red tape and improve investor confidence, while addressing climate goals without burdening citizens financially.

What immediate action did the Ontario government take in response to GM's Oshawa plant closure?

• Reduced employment insurance benefits

• Closed other manufacturing plants

• Increased corporate taxes

• Implemented a rapid re-employment response team

Which sector is NOT mentioned as part of Ontario's diversified economy?

• Tourism

• Finance

• Agriculture

• Manufacturing

What is one of the main incentives Ontario is offering to attract businesses?

• Increasing corporate taxes

• Cutting red tape

• Raising hydro rates

• Reducing capital cost allowance

How is Ontario addressing climate change without slowing down the economy?

• By unveiling a green plan

• By increasing energy prices

• By reducing green investments

• By imposing a carbon tax

What financial achievement did Ontario's government accomplish in 11 weeks?

• Doubled the corporate tax rate

• Closed all deficit gaps

• Increased the deficit by $3.2 billion

• Shaved $3.2 billion from expenses

What external challenge is Ontario facing that affects its economy?

• Lack of skilled labor

• Decreasing population

• Rising oil prices

• Tariffs on steel and aluminum

What is the general sentiment of investors towards Ontario's financial strategies?

• Indifferent

• Confused

• Impressed

• Disappointed