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Update on Québec’s Economic and Financial Situation – Fall 2019

Giving Money Back to Quebecers

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An additional $3.3 billion given back over five years

Full enhancement of the family allowance. Starting in January 2020, 679 000 families will receive on average $779 more per year.

$750 more for a family with two children and $1 500 more for a family with three children.

Starting in January 2020, 679 000 families will receive on average $779 more per year

A single amount of up to $2 515 per year for each minor child starting in 2020

The minimum amount will be enhanced to $1 000 for each child

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Document, page B.7

Enhanced family allowance + Reduction in childcare rates = More money in your pockets. Estimate your gain with our new calculator!

Immediate elimination of the additional contribution for childcare as of the next income tax return.

$8.25 per day.

Average savings of $1 100 for 140 000 families

Return to a single reduced rate for subsidized childcare services, retroactively to January 1, 2019

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Document, page B.12

Enhanced family allowance + Reduction in childcare rates = More money in your pockets. Estimate your gain with our new calculator!

Reduction in healthcare institution parking fees.

From $7 to $10 per day. Maximum rate depending on the region.

Free parking for the first two hours starting in spring 2020

Patients, as well as family and friends, will benefit from more affordable rates

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Document, page B.21

Initiatives to meet specific needs

$652 more per month for more than 3 000 families.

Enhancement of the supplement for handicapped children requiring exceptional care

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Document, page B.16

An additional 40 000 recipients will benefit from this measure

Payment of the solidarity tax credit to all eligible social assistance recipients by June 2020

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Document, page B.21

Extension of the electricity discount programs to foster investment in all regions of Québec.

Extension of the electricity discount programs to foster investment in all regions of Québec

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Document, page B.30

The Québec economy is performing remarkably well

  • Despite a less favourable global context, economic growth will continue in Québec. Real GDP growth is forecast at 2.4% in 2019 and 1.8% in 2020.
  • In 2019, Québec’s real GDP growth will outstrip that of Canada for the second year in a row.
Economic growth in Québec (Real GPD, percentage change.

In 2019, 80 000 jobs are expected to be created.

Full use of the available labour force will be necessary to support economic growth.

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Document, page C.5

A balanced financial framework

The government forecasts a surplus of $1.4 billion for 2019-2020. This surplus will be used to:

  • fight climate change
  • offset a possible economic slowdown
  • reduce the debt

The objective of reducing the gross debt to 45% of GDP will be achieved in 2019-2020, six years ahead of schedule.

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Document, page D.15

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