2010 Quebec budget: A responsible, historic budget that strengthens the city of Montréal

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Added on 30 March 2010 in Press releases

Press release

2010 Quebec budget: A responsible, historic budget
that strengthens the city of Montréal

Montréal, March 30, 2010 The Board of Trade of Metropolitan Montreal is very satisfied with the budget unveiled today by Quebec’s Finance Minister Raymond Bachand. The budget targets the city and reflects the Board of Trade’s major recommendations made on December 11 as part of pre-budget consultations.

“This budget achieves an amazing and difficult to accomplish feat. It maintains the efforts needed to come out of the global recession,” said Board of Trade President and CEO, Michel Leblanc. “It targets base-building projects for the city’s economy and proposes a credible plan to achieve a balanced budget by 2013-2014. It limits growth in government expenditures and fosters a systematic pursuit of gains in efficiency in the public apparatus. But most importantly, the budget removes caps on tuition fees to provide greater support to our universities and increases electricity rates to fully exploit hydroelectricity’s extraordinary potential for collective wealth.”

“This budget is in line with the Montréal business community’s expectations regarding the role of the state,” Mr. Leblanc said. “It limits the size of government, encourages efficiency and creates an environment favourable to long-term growth. Given the current context, it’s a responsible budget.”

“The budget also directly strengthens the city,” Mr. Leblanc said. “In addition to the announced removal of caps on tuition fees, the government will put in place a Plan Emploi Métropole. It will invest $175 million in major projects and dedicate a further $200 million to building a rail link between the airport and downtown. It will make it possible to eliminate the chronic funding deficit for public transit. It will support the launch of a financial services cluster, reinforced by renewed support to international financial centres within the city. And it continues the commitment to the Quartier des spectacles through the announced reconstruction of the Wilder building. In short, the 2010 budget offers unequivocal support for stimulating the city’s economy.”

“Of course, the gradual increase in the QST will add to the tax burden for individuals,” Mr. Leblanc said. “But given the economic situation and the precariousness of public finances, it’s a measure that does less harm to the economic vitality of Quebec than an increase in taxes for businesses or individuals. Finally, the plan to repay the debt by 2026 will improve Quebec’s economic health in the long term and give the government greater room to manoeuvre, in a context where Quebec is facing major challenges in terms of labour. This budget has historic significance for Quebec and Montréal.”

La Chambre de commerce du Montréal métropolitain compte quelque 7 000 membres. Sa mission est de représenter les intérêts de la communauté des affaires de l'agglomération urbaine de Montréal et d'offrir une gamme intégrée de services spécialisés aux individus, aux commerçants et aux entreprises de toutes tailles de façon à les appuyer dans la réalisation de leur plein potentiel en matière d'innovation, de productivité et de compétitivité. La Chambre est le plus important organisme privé au Québec voué au développement économique.

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Source :
Sylvie Paquette
Coordonnatrice, Relations médias
Chambre de commerce du Montréal métropolitain
Tél. : 514 871-4000, poste 4015
sylvie.paquette@ccmm.qc.ca