The Chamber of Commerce of Metropolitan Montreal

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514 871-4000

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The Chamber’s reaction to the Quebec budget update

Montréal, October 25, 2016 - The Chamber of Commerce of Metropolitan Montreal (CCMM) applauds the budget update released today by Quebec Minister of Finance Carlos Leitão. “The business community commends the Government on its disciplined fiscal management that has generated a $2.2-billion surplus. Quebec must now look to the future and make strategic choices for its economic future,” said Michel Leblanc, President and CEO of the CCMM.

The return to surplus shows that fiscal measures have paid off
“The budget update confirms that the effort put in by all Quebec society has paid off. It is encouraging to see Quebec in such good economic standing at a time when most other Canadian provinces and OECD countries are still trying to rein in spending and rebalance their budgets. All Quebecers can be proud of this accomplishment,” added Michel Leblanc.

Reduce the tax burden for individuals
“Part of these new budget margins must go towards reducing the taxpayer burden and maintaining a competitive tax environment for our businesses. Quebecers have one of the heaviest tax burdens in North America. Workers must be able to keep more of their hard-earned money. Abolishing the health tax sooner than planned would be a first step in this direction,” explained Michel Leblanc.

Reinvest in vectors of economic development
“Education and infrastructure are strategic drivers of economic development. Quebec and its largest city have a modern economy based on knowledge and innovation. It would be in the province’s best interest to significantly reinvest in education, from primary and higher education to technical training. Companies must be able to rely on state-of-the-art infrastructure and a pool of talent to grow and succeed. The reinvestments announced today are welcome and send a positive message,” continued Michel Leblanc.

An opportunity the government must absolutely seize
“We can benefit right now from this room to maneuver by reinforcing and investing in our economy. We invite the Government of Quebec to ensure that the next budget lays the foundations for a dynamic economy that encourages work, savings and investment. We must absolutely seize this opportunity,” concluded Michel Leblanc.

About the Chamber of Commerce of Metropolitan Montreal (CCMM)
With a network of over 7,000 members, the CCMM is active on two fronts: being the voice of the Montréal business community and delivering specialized services to businesses and their representatives. With its finger on the pulse of current events, it acts on issues that are decisive for the prosperity of the city’s businesses. With the support of the Acclr experts, the CCMM’s goal is to accelerate the creation and growth of businesses of all sizes, at home and around the world.

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Source: 
Guillaume Bérubé
Advisor, Media Relations
Chamber of Commerce of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
gberube@ccmm.ca

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