Budget Overhaul: Retail, Tickets, Pensions

Summary#

Bill 97 is Ontario’s 2026 budget bill. It changes many laws at once. The goals include funding government, changing some taxes, updating privacy rules, merging conservation authorities, and setting rules for ticket resales and retail holidays.

Key changes:

• Creates a Protect Ontario Account Investment Fund for government investments in innovation, infrastructure, and growth.
• Lets the province borrow up to $35 billion in 2026–27.
• Merges 35 conservation authorities into 8 regional bodies (plus a continued authority in Northwestern Ontario) and requires local watershed councils.
• Allows more retail stores to open on Family Day and Victoria Day across Ontario (Victoria Day is no longer a mandatory closed holiday).
• Caps ticket resale prices at no more than the original total price plus platform fees and taxes, with new proof and record-keeping rules.
• Updates privacy and freedom-of-information laws (new timelines, staged responses, added exemptions for ministers’ offices).
• Changes liquor taxes; updates several income and corporate tax credits and rates.
• Adds a variable life benefit option in pension plans and limits the Pension Benefits Guarantee Fund to cover up to $3,000 a month in wind-ups on or after March 26, 2026.

What it means for you#

• Shoppers and retail workers

  • Stores can open on Family Day and Victoria Day. Cities cannot require closing on those days. Victoria Day is no longer a “closed holiday” under provincial retail rules.
  • You may see more stores open and more staff scheduled on these holidays.

• Concert, sports, and event fans

  • Resellers cannot list a ticket for more than the original total price, plus platform fees and taxes.
  • Secondary platforms must get proof of the original total price before listing.
  • Platforms must keep records. Some added fees by sellers may be banned unless rules allow them.

• Homebuyers and renters

  • A person registered as an Indian under the federal Indian Act is not treated as a “foreign national” under Ontario’s land transfer tax law. This can affect how some taxes apply in property deals.

• People who buy alcohol; breweries, wineries, distillers

  • Liquor tax rules and rates for beer, wine, wine coolers, and spirits change. Shelf prices or producer margins may change.

• Pension plan members and retirees

  • Defined contribution plans can offer a “variable life benefit” that pays income that can go up or down with investment returns. A death benefit is set for this option.
  • In a plan wind-up on or after March 26, 2026, the Pension Benefits Guarantee Fund will not cover pension amounts over $3,000 per month. Higher pensions are less protected if a plan fails.
  • Plans can apply to close out the benefits of people who are unlocatable and would be over 100 years old based on records, with regulator consent.

• People making freedom-of-information (FOI) requests; local governments and public bodies

  • Time limits are now counted in business days. Institutions can propose staged access and, in some cases, take an extra extension.
  • Municipal bodies must do privacy impact assessments and report certain privacy breaches to the Information and Privacy Commissioner.
  • New rule: Records in a minister’s or parliamentary assistant’s office are not covered by the provincial FOI law unless held by an institution. This applies retroactively to 1988.
  • Staff moving between ministries can have personal information shared so they keep access to online accounts tied to their government email, under guidelines.

• Environmental and watershed residents

  • Your local conservation authority may be merged into a larger regional authority. New watershed councils must be set up to reflect local priorities.
  • A provincial agency will run the transition. The minister can direct authorities during the transition.

• Taxpayers

  • The province creates a new investment fund inside the government’s main account. Any gains can be reinvested or kept in general revenues.
  • The province is authorized to borrow up to $35 billion this year.

• Toronto residents near Rogers Centre

  • A specific city by-law rule will not apply to one block on Bremner Boulevard (18C). An old law on SkyDome bus parking is repealed. Local traffic or parking rules may change in that area.

• Workplace safety and insurance (WSIB)

  • The WSIB board will have 7 to 9 members. A majority plus one must come from candidates recommended through a minister’s advisory committee.

Expenses#

No publicly available information.

Proponents' View#

• Opens stores on two popular holidays, giving families more choice and helping retail sales.
• Merging conservation authorities reduces overlap, cuts admin costs, and delivers more consistent services while keeping local input through watershed councils.
• The new investment fund backs innovation and infrastructure and can recycle returns into more projects.
• FOI timeline changes (business days, staged access) make service more predictable; sharing info for staff moves keeps programs running smoothly.
• Ticket resale caps and proof rules protect fans from price gouging and add transparency.
• Pension changes give retirees more income options; clarify what the guarantee fund covers; help clean up very old, unclaimed accounts.
• Updating liquor taxes and business tax credits modernizes the system and supports long-term economic growth.
• Clarifying land transfer rules for registered Indians improves fairness in property transactions.

Opponents' View#

• Excluding ministers’ offices from FOI coverage, especially retroactively, weakens transparency and public access to records.
• Repealing safeguards on transactions that increase debt or liabilities could reduce fiscal oversight and increase risk.
• Conservation authority mergers may distance decisions from local needs, disrupt ongoing projects, and weaken environmental protection; ministerial directions centralize control.
• Allowing retail openings on Family Day and Victoria Day may pressure workers to give up holiday time and could disadvantage small stores.
• Resale price caps could push ticket trading to unregulated markets and be hard to enforce.
• Limiting pension guarantees to $3,000 a month exposes retirees with higher pensions to larger losses; variable life benefits shift investment risk to individuals.
• Liquor tax changes could raise prices for consumers or strain small producers.
• The investment fund gives broad spending discretion to the minister, raising concerns about transparency and political influence.