Update to the Québec Economic Plan: Sound management of public finances will allow us to invest in strategic assets

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Added on 26 November 2015 in Press releases

Montréal, November 26, 2015 – The Board of Trade of Metropolitan Montreal welcomes the prospect of a newly balanced budget announced in the update to the Québec Economic Plan by Québec’s Minister of Finance, Carlos Leitão. “This update shows that the government will respect its commitment to balance the budget in March and is already announcing measures that will help support the lasting success of Québec and Montréal,” said Michel Leblanc, President and CEO of the Board of Trade.

“We applaud the responsible management of public finances,” said Michel Leblanc. “While a number of countries are still trying to adopt a clear plan for cleaning up public finances, Québec is preparing to achieve a balanced budget after six years of deficit. This stabilization will reassure investors and credit rating agencies and allow us to continue on our path to reduce the debt. This will improve the competitiveness of the business environment of Québec and Montréal.”

“We would also like to underline the careful management of public expenses and particularly the controlled growth in spending of 1.4% in 2014-2015,” Michel Leblanc said. “This discipline will create the leeway necessary to begin to reduce the corporate and personal tax burden and to invest, beginning with the next budget, in strategic projects for the economy of Québec and Montréal.”

“Furthermore, the business community has pointed out on several occasions the importance of education for our prosperity,” Michel Leblanc said. “The Board of Trade is delighted that the government has already committed to an additional reinvestment in education of $20 million this year and $80 million per year beginning in 2016-2017. Access to educated, properly trained labour is essential for the development of our companies and our knowledge-based economy. As we have said in the past, we need to significantly increase investment, in particular in university education, as soon as public finances permit.”

The Board of Trade of Metropolitan Montreal will detail its recommendations during 2016-2017 pre-budget consultations.

About the Board of Trade of Metropolitan Montreal

The Board of Trade of Metropolitan Montreal is made up of over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration, and innovation. The Board of Trade also offers a range of specialized services to individuals and to businesses of all sizes to support them in their growth at home and abroad.

 

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Source: 
Guillaume Bérubé
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Phone: 514 871-4000, extension 4042
gberube@ccmm.qc.ca

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