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

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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.

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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

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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.

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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.

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