This article was last updated on April 16, 2022
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The Quebec government has announced a new green tax to be imposed on all rich banks, insurance companies and brokerage houses in order to pay higher payroll taxes to the government as the left wing has demanded for years. Whereas on the other hand, the government also publicly announced that the province is halfway down the austerity highway and it’s time to start smiling again.
During an elaborate mini-budget type economic update, Finance Minister Carlos Leitão mentioned on Tuesday that “the bottom line is that we are right on track to balance the budget,” adding that “the plan we set out is working.” Furthermore, Leitão stressed that the worst is behind us. He highlighted that eighty-five per cent of operation “reform, re-tool and re-think” has been identified, while the government is anticipated to reach its $2.3-billion deficit target this year and balance the books by 2015-16 once a final $1.1 billion is found in next spring’s budget.
In addition to that, Leitão also went on to where no minister has gone in a long time, by promising that Quebec will post a surplus by 2018. However, Leitão’s press conference is being remembered for the bad news it contained. Leitão is taking one more kick at the can to the tune of $262 million in new measures to get himself over the hump. The average increase as of January 2015 will be $20 for an ordinary car, more for owners of big gas guzzlers.
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