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Quebecers' priorities
Health
Since 2003 |
- Rise of $4.4 billion in the health budget
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With the 2007-2008 Budget |
- 6% increase in the health budget to $1.3 billion
- 2/3 of the growth in spending is going to health and social services
- Confirmation of the creation of a fund for the promotion of health and healthy lifestyles in partnership with the Fondation Lucie et André Chagnon: $400 million over 10 years
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Education
Since 2003 |
- $1.7 billion reinvested in education
- An additional $320 million for post-secondary education
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With the 2007-2008 Budget |
- 4.4% increase in the education budget to $567 million
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A lighter tax burden
Since 2003 |
- The government has given $3.8 billion back to Quebecers through income tax reductions.
- All Quebecers who pay income tax—3.4 million people—have benefited directly from these tax cuts.
- Québec taxpayers are no longer the most heavily taxed people in North America.
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With the 2007-2008 Budget |
- As of January 1, 2008: tax reduction of $250 million for 2.4 million Quebecers
- The series of measures announced in the 2007-2008 Budget, together with retirement income splitting, will put an additional $464 million back into Québec taxpayers' pockets. This does not take into account the indexation for 2008, evaluated at $355 million.
- In 2008, Québec will have the sixth-lowest tax burden of the Canadian provinces.
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Support for businesses
Since 2003 |
- Enhancement of the competitiveness of the corporate tax system
- Lowering of corporate taxes by $825 million
- Reduction in the tax rate for SMEs to 8%
- Introduction of a capital tax credit for manufacturing businesses that invest to upgrade their facilities
- Elimination of the tax on capital for 75% of businesses
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With the 2007-2008 Budget |
- Raising of the capital tax credit from 5% to 10% for investments in manufacturing and processing equipment. This credit is also extended until 2012.
- Almost all of Québec’s 20 000 manufacturing firms that invest in manufacturing and processing equipment will no longer pay the tax on capital.
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Infrastructure renewal
Since 2003 |
- Investment of $16.1 billion in infrastructure development and maintenance
- Increase in assets maintenance budgets for health and education infrastructures from $645 million to $1.2 billion
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With the 2007-2008 Budget |
- $7.9 billion over four years for highway infrastructure: roads, bridges and viaducts
- $2.3 billion over four years for public transit, drinking water supply, wastewater treatment and local road networks
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