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Update on Québec’s Economic and Financial Situation – Fall 2018

Taking action now to give all Quebecers more means

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Putting money back in the pockets of families and seniors: $1.7 billion over five years

$500 more for a family with two children and $1 000 more for a family with three children

A more generous family allowance

  • Increase of $500 in the maximum amount granted for the second and third children as of 2019
  • A gain of up to $1 000 for families with three or more children
  • 423 000 families will benefit from the measure

A new senior assistance amount for low-income seniors aged 70 or over

  • Up to $200 for a single senior or $400 for a senior couple
  • Over 570 000 seniors will benefit from this new measure

As of 2019, a freeze on the additional contribution for subsidized childcare at the same amount as in 2018

  • Over 140 000 families with young children will benefit

Document, page B.9

Accelerating business investment: $1.6-billion reduction in investment costs over five years

Extension and broadening of electricity discount programs

90 000 businesses will benefit annually from these tax measures to spur investment

  • Increase to 100% in the depreciation rate*
  • Introduction of enhanced capital cost allowance to foster development of all businesses
  • Introduction of a permanent additional capital cost allowance of 30% for investments*

Extension and broadening of electricity discount programs

  • Extension of the deadline for applying for the programs to December 31, 2019
  • Establishment of a new program for large businesses served by Hydro-Québec’s off-grid systems
*Applicable in respect of computer hardware, manufacturing and processing equipment, clean energy generation equipment and intellectual property.

Document, page B.21

Continuing efforts to fight climate change

The funding will also foster the acquisition of 1 200 more home charging stations

$21 million in additional funding in 2018-2019 to encourage the acquisition of new or used electric vehicles

  • Will cover applications for rebates on the acquisition of electric vehicles up until March 31, 2019
  • Will foster the acquisition of over 3 350 more electric vehicles and 1 200 more home charging stations

Document, page B.35

Accelerating debt repayment

$10 billion by spring 2019

Use of $8 billion from the Generations Fund by spring 2019 to repay borrowings on financial markets

  • Taking into account the $2-billion repayment that was already made, $10 billion will have been used to pay down the debt.

This acceleration in debt repayment will generate additional interest savings of $332 million over five years

  • Over five years, it will be possible to allocate a total of $1.4 billion to public services thanks to the savings generated by debt repayment.

Document, page E.6

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Note that all the links in this page, with the exception of the last one, will open a PDF document  in a new window . The last link opens an Excel file.

Supplementary information : Québec by the numbers.