Quebec budget supports recovery by avoiding tax hikes
- Quebec’s deficit to amount to roughly $15 billion in 2020-21;
- Finance Minister projects government will go back to balance in 2024-25;
MONTRÉAL, QC: The Canadian Taxpayers Federation supports the Quebec government’s plan to avoid tax hikes as the economic recovery begins. The Quebec government presented its budget update today.
“We are glad to see the government is keeping its promise not to hike Quebecers’ tax bills,” said CTF Quebec Director Renaud Brossard. “Quebec’s economy has gone through one worst of the downturns of its history, and it is clear no one has money to spare for new taxes.”
During the press conference, Finance Minister Eric Girard reiterated his pledge not to hike individuals’ and businesses’ tax burdens both this year and in the coming years.
According to Ministry of Finance estimates, the deficit will reach $14.94 billion in 2020-21, including a $2.567 billion payment to the Generations Fund.
“We’re concerned with the deficit, and it is clear the minister of finance shares that concern,” said Brossard. “We welcome the minister’s ambitious plan to go back to balance fast and stop driving young Quebecers further into debt.”