Highlights of the 2023 Quebec budget | Quebec Budget 2023
< p class="sc-v64krj-0 dlqbmr">Quebec Finance Minister Eric Girard during his budget presentation speech on Tuesday, March 21, 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