Budget publications 
- Budget Speech 2016‑2017 (429 Ko)
- The Québec Economic Plan – March 2016 (6.47 Mo)
- Additional Information 2016‑2017 (2.88 Mo)
- Economic Plan in Brief (687 Ko)
Budget 2016-2017
Minister of Finance Carlos Leitão delivered Budget Speech 2016‑2017 on March 17, 2016.
The Québec Economic Plan
Consult the sections of the Plan
Webcast
Budget publications
Find out more: Budget papers
In Brief
Economy
For a modern, prosperous Québec
Return to a balanced budget thanks to good revenue management and exemplary spending control
Regaining the freedom to make our own choices and relying on the talents of Quebecers
Balanced budget 2016‑2017
* Represents total expenditure and other elements.
Note: Totals may not add due to rounding.
Note: Totals may not add due to rounding.
Spending growth will rise from 1.7% in 2015‑2016 to 2.7% in 2016‑2017, while the budget will remain balanced
- In 2013‑2014, growth was 3.3% and the budget showed a deficit
Québec is the only Canadian jurisdiction, apart from British Columbia, to have a balanced budget in 2015‑2016
Despite the uncertain global economy, the economic climate in Québec remains favourable
- The low Canadian dollar and growth in the U.S. economy are having a positive effect on our economy
- Real GDP is expected to grow by 1.5% in 2016 and 1.6% in 2017
The Generations fund is 10 years old
The Generations Fund is the most powerful instrument of intergenerational equity ever adopted by a government
- Deposits in the Generations Fund enable the government to reduce its debt burden
- As at March 31, 2016, the ratio of gross debt to GDP will have started to decline
Education
A plan for success in education and higher education
$1.2 billion in additional investments
$500 million over three years to increase success
- $300 million for an innovative learning environment to prevent drop outs
- $120 million to promote academic success
- $80 million to strengthen links between the education system and businesses in order to better meet labour market requirements
$700 million in education and higher education infrastructure
Increasing investments in the renovation and upgrading of educational institutions in order to:
- Offer healthy, more stimulating learning environments
- Increase access to sports facilities
- Make institutions more eco‑responsible
Total investments of $4 billion in infrastructure for the next 2 years
Support for businesses
Encourage innovation in a cleaner economy
Rénovert, a new tax credit of 20% for eco‑friendly home renovations, representing nearly $175 million in tax relief
An innovative society
- Tax cut representing $135 million for innovative businesses
- Over $160 million for a cutting‑edge digital strategy:
- Integration of IT in SMBs
- Support for major digital transformation projects
- Québec Branché: support for digital access in all regions of Québec
Transformation to a knowledge‑based economy
- Additional support of $16 million for college technology transfer centres to foster innovation in businesses
- Support for the seed phase of innovative businesses:
- $20 million for the AmorChem II fund
- $15 million for the InnovExport fund
- $30 million for a new fund in the clean technology sector
Support for businesses
Support investment
Economic Plan 2016‑2017: Additional economic support of $3.6 billion by 2020‑2021
Increased support for Québec SMBs
- Reduction in the Health Services Fund contribution, representing an additional amount of nearly $245 million. All told, the rate will be reduced by:
- Nearly 50% for SMBs in the primary and manufacturing sectors
- Over 25% for SMBs in the service and construction sectors
- Additional support of over $32 million for exporting SMBs, for the marketing of Québec innovations
A new electricity rate discount for businesses representing $539 million to stimulate manufacturing investment
Support for key sectors for the development of all the regions
- $67 million To support the tourism industry
- $45 million To support the development of the agri‑food industry
- $10 million To develop the Maritime Strategy
- $70 million To draw up a new Québec aerospace strategy
- $34 million To bolster competitiveness in life sciences
- $34 million To foster culture and artistic creativity
$230 million for the forest sector: activities in all regions of Québec representing 60 000 jobs
- Measures to increase competitiveness
- Fostering investment and innovation
- Banking on private forests to improve supply
Development of the Plan Nord and the mining sector
Investments of $620 million for mining site reclamation
- Over $450 million for initiatives of the Société du Plan Nord
- Enhancement of the tax credit for resources
- Development of rail and port infrastructures in Sept‑Îles
- Support for research in hydrometallurgy
Families and communities
Stronger support for individuals and communities
Immediate reduction in the health contribution
Reduction of the childcare rate in respect of a second child
Assistance for the aboriginal community
- Renovation of homes in the Algonquin community of Kitcisakik
- Assistance for urban aboriginals
Labour market participation
- Enhancement of work premiums to encourage labour market participation
- Enhancement of the tax shield
- Lowering of the eligibility age for the tax credit for experienced workers to 62
A Message from the Minister of Finance
Budget 2016‑2017 marks a major milestone for our government in delivering on our commitments regarding public finance management and economic development. This second consecutive balanced budget, a first since March 2008, clearly shows that we have gotten our fiscal house in order and that we have laid a solid foundation on which to build our prosperity.
Today, Québec is in a much better position to address the challenges that are slowing the economy.
Together, we have regained the capacity to leave a modern, prosperous Québec for future generations.
I therefore invite you to discover the Québec Economic Plan and its measures seeking, among other things, to strengthen funding for education, support individuals and families, and foster the development of a changing economy.
Carlos Leitão
Minister of Finance
