The Québec government has set debt reduction objectives that have been included in the Act to reduce the debt and establish the Generations Fund. For fiscal 2025‑2026:
As at March 31, 2015, the gross debt stood at $203 957 million, equivalent to 55.1% of GDP. The government’s objective is to reduce the ratio of gross debt to GDP to 45% as at March 31, 2026.
As at March 31, 2015, the debt representing accumulated deficits stood at $121 161 million, equivalent to 32.7% of GDP. The government’s objective is to reduce the ratio of debt representing accumulated deficits to GDP to 17% as at March 31, 2026.
To reduce the debt, the government has the Generations Fund that was created in 2006. The amounts paid into the Fund, that come notably from the water‑power royalties paid by Hydro‑Québec and private hydro‑electricity producers, will be used solely to repay the debt.
The revenues from the following sources are also dedicated to the Generations Fund:
In addition, the government has decided to deposit in the Generations Fund the accumulated surplus of the Commission des normes du travail, which should amount to $106 million. The deposit will be made in 2015‑2016.
As at March 31, 2015, the book value of the Generations Fund stood at $6 938 million.
The Generations Fund should reach $19.8 billion as at March 31, 2020.
|Book value as at March 31, 2014||5 659|
|Dedicated revenues in 2014‑2015|
|Indexation of the price of heritage electricity||71|
|Specific tax on alcoholic beverages||100|
|Total dedicated revenues||1 279|
|Book value as at March 31, 2015||6 938|