Press release: 2007 budget: the Board of Trade commends the City's investor approach to Montreal's development

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Added on 29 November 2006 in Press releases

Press release

2007 budget: the Board of Trade commends the City's
investor approach to Montreal's development

Montreal, November 29, 2006 – The Board of Trade of Metropolitan Montreal is pleased with the budget unveiled today by the City of Montreal. Well aware of the difficult financial context with which Mayor Gérald Tremblay and Executive Committee president Frank Zampino had to contend, the Board of Trade is impressed with the fact that the municipal administration was able to present a balanced budget with no property tax increases and limited spending growth.

The Board of Trade commends the City's investor approach with regards to spending, which will seek to boost Montreal's economic development and especially the creation of a $180 million investment fund over three years to implement the major projects called for under Vision 2025.

“The Board of Trade is pleased to see that despite the difficult budget context, the City was able to set aside funds for economic development and wealth creation.  In this regard, the recurring $60 million annual investment in large projects designed to generate the best possible return is a promising approach that will ultimately benefit all taxpayers,” stated the Board of Trade's president and chief executive officer, Isabelle Hudon.
 
“We are also pleased to see that the City maintained the budgets for cleanliness and infrastructure work, particularly on commercial arteries.  These are important, tangible initiatives for local merchants that will not only boost business but also enhance the appearance of our major roadways,” continued Isabelle Hudon.

“The investor approach adopted in this budget is in keeping with our wish to see the municipal administration reduce its overdependence on property taxes in favour of new sources generated by economic activity.  We must continue working towards a revenue structure that encourages profitable investment and wealth creation,” concluded the Board of Trade's president and CEO.

The Board of Trade of Metropolitan Montreal has some 7,000 members. Its mission is to represent the interests of the business community of Greater Montreal and to provide individuals, merchants and businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is the largest private organization in Quebec dedicated to economic development.

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Source:
Sylvie Paquette
Coordinator, Media relations
Board of Trade of Metropolitan Montreal
Tel.: (514) 871-4000, ext. 4015
sylvie.paquette@ccmm.qc.ca