PQ creating $2 billion job stimulus fund
Published Monday, October 7, 2013 10:15AM EDT
Last Updated Monday, October 7, 2013 7:51PM EDT
QUEBEC CITY – The Parti Quebecois government will create a $2 billion fund made up of tax credits and subsidies to attract investments and generate 10,000 jobs, according to a government source. Details of the plan are to be revealed later Monday.
The new fund is aimed at enticing companies to invest in research and create jobs.
The government plans to sell hydro-electricity at a discount, which would bring in revenues of $1.5 billion, the source confirmed to CTV Montreal.
The government has said it wants to increase sales of hydro power to neighbouring U.S. states, some of whom have to choose between shale gas power and hydro power, a relatively green source of energy.
Premier Pauline Marois and Finance Minister Nicolas Marceau are to make the announcement at the Caisse de dépôt et placement du Québec, in Montreal, at 2 p.m.
The announcement comes more than a year after the PQ was elected to power and during a year in which the economy has not performed as well as the party hoped. Opposition parties have been harshly critical of the government for not doing more to stimulate private investment and job creation.