Montréal, January 29, 2014 –With the tabling of the 2014 Ville de Montréal budget, the Board of Trade of Metropolitan Montreal would like to reiterate the importance of giving the city greater fiscal and financial room to reduce its reliance on property taxes.
“We are pleased to see that the Mayor of Montréal has followed up on his commitment to limit the tax increase to the inflation rate, even though the overall increase is 2.8% once additional taxes levied by the boroughs are taken into account,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “However, this increased tax pressure on Montreal taxpayers remains a source of concern given that they are already among the most taxed citizens in North America.”
“The Coderre-Desrochers administration wisely proposes implementing mechanisms for strict spending control and seeking greater efficiency, in particular through the organizational performance department,” Michel Leblanc said. “The gains are potentially significant, and this type of initiative is a step toward increased productivity. But even if these measures achieve their ends, they may not be enough. Montréal cannot rely solely on spending control to modernize its infrastructures and improve services to citizens and businesses. The city will need to generate new revenue, while reducing its dependence on property tax. This situation recalls the importance of the city quickly obtaining a new fiscal pact with the Government of Quebec.”
“With respect to capital budgets, it is reassuring to note that the Ville de Montréal is planning significant investments to reduce our considerable infrastructure maintenance deficit,” Mr. Leblanc said. “The administration is also staying the course to improve the fluid movement of people and merchandise in the city. But the city needs to break the habit of completing only around 50% of the projects in its three-year capital plan. Our collective prosperity depends on a competitive business environment that results from functional, safe, effective urban infrastructures, delivered on time and on budget.”
“Spending control and improving the business environment are essential to allow Montréal to play its role as the economic driver of Quebec,” Michel Leblanc said. “The budget tabled today contains promising measures that will allow us to progress and foster the participation of the private sector in developing the city’s potential.”
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal 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.
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel. : 514 871-4000, ext. 4042
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