What is Quebec going to spend its budget on?
The province's new financial report demonstrates the priorities of the authority.
Quebec Finance Minister Eric Girard has unveiled the province's financial report, which envisions about CA$ 4.3 billion for various social benefits and programs. The planning in this report assumes a five-year timeframe. So, what major spending is envisioned.
Indexation of tax deductions
On January 1, 2024, tax credits, tax deductions, and social assistance are indexed at 5.08%. This percentage is higher than the projected inflation rate for the same period. This will total CA$ 2 billion, and on an individualized basis will cost each taxpayer approximately CA$ 282 for 2024.
Housing
To make housing more affordable, the government plans to invest CA$ 1.8 billion over the next five years to build 8,000 new units of social and affordable housing for low-income families.
Of these, 7,500 units are being planned under the Quebec Affordable Housing Program and in partnership with tax credit funds. So the federal Housing Accelerator Fund project is adding CA$ 900 million of its own. The remaining 500 apartments are for the homeless.
The problem of homelessness
CA$ 145 million will be allocated to help them, of which 21 are being donated to organizations that provide food to the homeless. In October, Quebec food banks experienced an unprecedented increase in the number of people seeking assistance — 30% more than a year ago.
The full article is only available to members of the Immigrant.Today community. Log in to your account to read it for free.
