Quebec Standard

Monday, February 26, 2024

Quebec budget comprises a $500 handout, better for health care

Quebec

Key takeaways: 

  • The Finance minister says the funds will assist in countering the rising expense of living.
  • Approximately 6.4 million taxpayers will get the handout. 

Quebec to handout 500$ to taxpayers: 

Quebec will offer $500 to everyone who earns $100,000 or less to offset the rising expense of living, the government declared in its budget for the coming fiscal year, tabled Tuesday in the National Assembly.

Nearly 6.4 million taxpayers will get the handout — a one-time payment meaning a $3.2-billion price for the region.

Finance Minister Eric Girard said the region’s quick economic rebound — a 6.3 percent growth in real GDP growth previous year after the economy earlier shrank by 5.5 percent — let the area “help Quebecers manage with the strong increase in the cost of living that we have seen in current months.”

Girard said he anticipates inflation for at least the first half of the year.

Low-income Quebecers who already prepared for a tax credit declared last fall stand to get a combined offering of $775 for those living alone or $1,400 for a couple.

Cashback was dismissed as an electoral scheme.

The opposition parties in Quebec’s National Assembly booted the payments as a ploy by Premier François Legault’s CAQ government to get votes ahead of the fall election.

Also read: Three people were hurt after the blast, fire at Sherbrooke food lab

Quebec is only expected to return to a balanced budget six years from now, in 2027-28

Carlos Leitão, the financial analyst for the Liberal opposition, said the region would have been better off freezing electricity rates. 

“The total budget seems to have been structured to provide a significant payment to over six million Quebecers simply before the election,” he said.

Manon Massé, co-spokesperson for Québec Solidaire, said it would have been adequate for the region to have contributed more targeted benefits for low-income citizens.

“The CAQ makes us think that the richest experience inflation like the normal world. It is not true,” she stated.

Balanced budget six years away.

Despite Quebec’s robust economy, the projected deficit stands at $6.5 billion for the forthcoming year. 

Source – cbc.ca

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *