Highlights of the 2023 Quebec budget | Quebec Budget 2023
Tax cuts, QPP changes, slight increase in the solidarity tax credit, investment in the repair of schools and other educational institutions: here are the highlights of the budget tabled by the Quebec Minister of Finance, Eric Girard.
- Tax reduction: savings of up to $814 per person and up to $1627 for a couple
- The tax cut will cost the state $1.7 billion per year, for a total of $9.2 billion over six years. #x27;solidarity tax up to $78 more per year for a single person
- Anticipated economic growth of 0.6% in 2023, with a rate of #x27;3.5% inflation
- $4 billion deficit projected in 2023-24; return to balanced budgets in 2027-2028
- Quebec's debt will stand at $207 billion as of March 31, 2023, or 37.4% of GDP
- Funding for the Quebec Infrastructure Plan increases by 7.5 billion over 10 years, for a total of $150 billion
- Creation of a tax holiday for large investment projects in the province of Au minus $100 million
- Labour-sponsored funds: minimum holding period will be gradually increased from 2 to 5 years
- Contributions to the Quebec Pension Plan will become optional from age 65 starting in 2024
- Environment: Quebec injects $500 million to support the creation of the Blue Fund
- Education: the government is releasing $2.9 billion for the renovation of schools, CEGEPs and universities
- < li>Quebec is investing $650 million over six years to finance the construction of s social and affordable
