Quebec Budget: Priorities clearly identified, despite limited means
Montreal, March 13, 2008 The Board of Trade of Metropolitan Montreal favourably welcomes the budget presented today by Quebec Finance Minister, Monique Jérôme-Forget.
The Board of Trade is fully aware of the delicate situation in which the Quebec economy and government find themselves. Within this context, we can appreciate that the government's actions, while remaining within its means, have the merit of targeting two especially important elements of our competitiveness: talent and investments, stated the President and CEO of the Board of Trade of Metropolitan Montreal, Isabelle Hudon.
Tax on capital: A wise decision
The business milieu has long called for the elimination of the tax on capital. We are therefore very satisfied to learn of its immediate elimination for the manufacturing industry, which comes at a time when the slowdown of the economy in the United States is another element that is complicating life for this sector. We also appreciate the fact that the budget's other economic measures also aim to encourage further investments by businesses, particularly the tax credit applicable to the purchase of manufacturing equipment. It is through investment that businesses will be in a better position to increase their competitiveness; the government is quite right in seeking to support business in this respect, stressed Isabelle Hudon.
Talent: Quebec's first natural resource
Talent is Quebec's most important natural resource in the economy of the 21st century. In this regard, we find the budget decisions concerning the financing of the Ministère de l'Immigration et des Communautés culturelles including measures related to integration and francization in the workplace , as well as the increase in education budgets and, more particularly, in the university network, to be especially pertinent, continued Isabelle Hudon.
The fact remains that today, changes in our economic environment occur at an increasingly faster pace. Therefore, it is no longer only during the budgetary process that the government must determine the actions it will take to support its economy; it is important to remain watchful all through the year and know how to adapt to change, concluded Isabelle Hudon.
The Board of Trade of Metropolitan Montreal has some 7,000 members. Its primary mission is to represent the interests of the business community of the Greater Montreal and to provide individuals, merchants, and local 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 Quebec's leading private economic development organization.
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Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4015