COVID-19: no increase, or a decrease of income tax in Québec

COVID-19: pas de hausse, ni de baisse d’impôt en vue au Québec

Because of the economic impact of the global pandemic, it is not necessary that Quebecers expect tax cuts, warns the minister of Finance, Eric Girard, which excludes any increase in the tax burden.

“Declines in broad-based tax with a $ 15 billion deficit, it is difficult to consider,” said the minister Girard, a week of the submission of a statement to supplementary budget 2020-2021.

Faithful to the policy mantra hammered for years by his party, “the Québécois are already citizens extremely taxed,” said Mr. Girard.

As mentioned last week, during a videoconference organised by the Chamber of commerce of metropolitan Montreal (BTMM), the minister of Finance’s promises on the other hand not to increase further the tax burden of Quebecers.

“Me, I am committed to no tax increases : personal income tax, sales tax, tax on corporations… There is no question of increasing it in Québec,” decided Mr. Girard, during a press briefing at the national Assembly, Friday.

The figures are encouraging, others less so

The great banker of the State has shown to be encouraged by the latest figures on employment in Quebec, which suggest that about 30 % of the jobs lost in march and April will be recovered.

“The figures are better than I expected,” admitted the minister Girard.

For the most part, the most recent report indicates that in may, it has created 230,000 jobs, attributable mainly by the déconfinement.

“Nearly half of these jobs are in construction, in the manufacturing sector, there are nearly 100,000 jobs in the Montreal region”, detailed Mr. Girard.

The unemployment rate fell to 3.3 %

However, there is still a lot of work to do, because about a half-million Quebecers remain without jobs, while they were at work last February.

The unemployment rate in Quebec fell 3.3 points : he is risen from 17 to 13.7% from April to may.

The déconfinement of Greater Montreal has been delayed, we should expect more bad news next Friday.

The minister of Finance, who spoke recently to a deficit of the order of 12 to 15 billion is now the figure 15. As for the decline in the gross domestic product (GDP), it was between minus 4 to minus 6 %, “I am closer to less than 6 % and less than 5 %,” said Mr. Girard.

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