A few months before the next elections, Premier Christine Fréchette announces a tax cut of one percentage point for 75,000 small and medium-sized businesses.
In concrete terms, this means savings of nearly $630 million over five years for the companies involved. “Each entrepreneur could thus save up to $5,000 per year,” the government press release emphasizes.
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Fréchette made the announcement Wednesday morning in Beauce, accompanied by Finance Minister Eric Girard, Minister Delegate for the Economy Daniel Bernard, and Member of Parliament for Beauce-Nord Luc Provençal.
By acting in this way, the CAQ government is depriving itself of revenue at a time when public finances are burdened by successive deficits.
“This measure aims to make local SMEs even more competitive. The reduction in the tax rate will allow them to free up additional room to maneuver to continue to invest, innovate and contribute fully to the growth of the Quebec economy,” the government maintains.
Let us recall that one of Fréchette’s first measures was the reimbursement, in whole or in part, of the “welcome tax” for new buyers.
In his latest budget, Eric Girard set aside $1.3 billion over five years for the new premier.
–This report by La Presse Canadienne was translated by CityNews
