Quebec Announces $2.1 Billion in New Spending Despite $11 Billion Deficit

Finance Minister Éric Girard highlights economic recovery while introducing spending cuts and ending a tax credit for some older workers.

Quebec's fall economic update includes $2.1 billion in new spending over five years, focusing on forestry and community development, including public transit.
The province's projected $11 billion deficit for 2024-25 remains unchanged from earlier estimates.
A tax credit encouraging workers aged 60 to 64 to remain in the workforce has been discontinued, reflecting rising retirement ages in the province.
Crown corporations, including Hydro-Québec, have been tasked with finding $1 billion in additional revenue over five years, despite Hydro-Québec's reported $800 million drop in profits this year.
The government aims to balance the budget by the 2029-30 fiscal year while continuing to review spending and implement targeted cuts.