The framework for Ontario’s new industrial policy was the topic of discussion at a recent lunchtime gathering of the Toronto Society of Financial Analysts. Ed Philip, minister of Industry, Trade and Technology, outlined his government’s new policies, and explained how it is hoped they will increase Ontario’s competitiveness in the global market place.
Under the new policy, the government hopes to work with groups from various industrial sectors as opposed to individual companies. Government-industrial sector alliances would be formed to work on new programs and projects. Financing for some of these projects would be available through the new 3-year, $150-million Sector Partnership Fund. Eleven different ministries will be involved in the fund, including the Ministry of Northern Development and Mines. Implementation details of the fund should be available by mid-December.
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