What you need to know about Quebec budget 2009 - Action News
Home WebMail Saturday, November 23, 2024, 10:51 AM | Calgary | -12.0°C | Regions Advertise Login | Our platform is in maintenance mode. Some URLs may not be available. |
Montreal

What you need to know about Quebec budget 2009

Find out what the Quebec budget could mean for you with this detailed breakdown of some of the highlights.

Find out what the Quebec budget could mean for you with this detailed breakdown of some of the highlights.

Highlights for the economy:

  • A new stock savings plan with major tax breaks to promote investment in Quebec public companies.
  • An increase from $1 billion to $1.5 billion for skills and training.
  • A $500-million emergency fund set up with the FTQ Solidarity Fund and the Socit gnrale de financement.
  • An $825-million fund to finance venture capital funds in partnership with the Caisse de dpt et financement du Qubec and the FTQ Solidarity Fund.
  • $65 million more for the forestry sector.
  • $125 million for three new funds to finance new high-tech businesses.

Highlights for families:

  • An improved tax credit to help with the cost of unsubsidized private child care.
  • An increase to $9,000 from $7,000 in the amount for the child care tax credit for children 7 years and under.
  • A goal of reaching 220,000 $7-a-day daycare spaces by the end of 2010.
  • $1.5 billion funding increase (5.7 per cent) for health to develop more family medicine clinics.

Highlights for the environment:

  • A $500 million capital expenditure program for the installation of bioenergy production.
  • Tougher energy efficiency standards for new and renovated buildings.
  • A portion of gas tax revenues to be dedicated to public transit infrastructure.
  • A refundable tax credit for the purchase or lease of new green vehicles.
  • Development of the hydrocarbon industry.

Other highlights:

  • A 3.5 per cent increase ($490 million) in education spending for programs addressing the dropout rate.
  • $3 million for artists for international travel to make up for cuts to similar federal program.

Plan to get back to a balanced budget:

  • Increase government revenues with a one per cent hike in the Quebec Sales Tax as of Jan. 1, 2011.
  • Index user fees to the rate of inflation as of Jan. 1, 2011, with daycare the only exception.
  • Limit spending growth to 3.2 per cent as of 2010-2011.
  • Hunt down tax evaders.
  • Continued investment in the long-term Generations Fund with $715 million addition this year.