Quebec Finance Minister Carlos Leitao, centre, is applauded by members of the government as he stands to present the budget speech, Tuesday, March 28, 2017 at the legislature in Quebec City. From left, Quebec Public Security Minister and Municipal Affairs Minister Martin Coiteux and Quebec Economy, Science and Innovation Minister Dominique Anglade applaud. THE CANADIAN PRESS/Jacques Boissinot.
QUEBEC — Finance Minister Carlos Leitao tabled Quebec’s 2017-18 budget on Tuesday. Here are some highlights:
— Projected surplus of $2.5 billion on total revenue of $106.3 billion; the money will go to debt reduction.
— Estimated gross debt of $210.8 billion as of March 31, 2018. That represents 52 per cent of gross domestic product, down from the projected 52.7 per cent as of March 31, 2017.
— Expected economic growth of 1.7 per cent in 2017 and 1.6 per cent in 2018.
— Elimination retroactive to 2016 of a health contribution for low and middle-class taxpayers.
— Increase in the basic personal tax exemption, resulting in an additional $55 for taxpayers.
— Hike of $2.4 billion to $91.1 billion for the province’s 2017-27 infrastructure budget.
— Awarding of $36 million over five years to local and community print media, notably to help the sector succeed in its digital transformation.
The Canadian Press
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