2018 Québec Budget: Improving Quality of Life
March 27, 2018
On March 27, 2018, Carlos Leitão, Québec's finance minister, tabled his fifth budget and the government's fourth straight balanced budget, which focuses on:
- Business taxes
- Education
- Health
- Childcare
Québec's plan is to decrease the provincial debt by a total of $10 billion by 2022-2023, which saves about $1 billion over that same time period in interest payments. Québec also introduced a measure requiring non-residents such as Netflix to register to collect QST.
Read our Highlights
4 Key Measures from the 2018 Québec budget
1. Business taxes
The government made it a priority to address taxes for small- and medium-sized businesses. Québec is reducing taxes for these businesses by $2.2 billion over the next five years. The government is also moving forward with a measure requiring non-residents such as Netflix to register to collect QST.
2. Education
Québec will be investing $16.2 billion more in education with pre-school, elementary and high schools receiving $9.5 billion in infrastructure money, and higher education will receive $6.7 billion.
3. Health
The government will give $3.6 billion more to the healthcare sector. There are plans to improve access and quality of healthcare by increasing access to home care, adding specialized nurse practitioners, promoting health prevention and providing more assistance for seniors.
4. Childcare
To enhance the tax credit for childcare expenses, Québec is providing nearly $160 million and investing $80 million to support families with children.
Download our full 2018 Québec Budget for additional information.
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