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.
- 3,000 new social, community or affordable housing units under the Accès Logis program. About 10 per cent of these units will be available to homeless people or those with mental health issues.
- $363 million to increase student financial assistance; $43 million in 2017-2018 and $80 million per year after that.
- $130 million for early childhood services to 2021-2022. $27 million will be committed in 2016-2017 and $21 million thereafter. Note, this comes after massive cuts in recent years.
- In health care, $100 million in new funding will be dedicated to reducing wait times in hospitals.
- $69 million of new funding to support the autonomy of seniors in 2017-2018 and in 2018-2019. The money is for seniors who stay at home and those living in the long-term care facilities.
- Renovation tax credit RénoVert, which was due to expire, will be extended to March 31, 2018.
