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No tax hikes planned despite COVID-19 crisis, says Quebec finance minister
MONTREAL -- Despite the expenses accrued during the coronavirus crisis, the Quebec government does not anticipate having to raise business or individual taxes to restore a balanced budget.
Quebec Finance Minister Eric Girard reiterated the policy on Friday when speaking at Montreal Chamber of Commerce.
He indicated that it was not the CAQ government’s philosophy to raise taxes in Quebec in this way, even to restore a balanced budget after the COVID-19 crisis.
He also clarified that there was no question of backing down on the drop in school taxes planned for July.
Girard admitted that it would still be necessary to “redo long-term plans” to get back on the path to balanced budgets - a path that should take “three to five years” according to him.
His game plan “to return to balance will involve revenue growth that will have to be slightly higher than spending,” he said.
This report by The Canadian Press was first published May 29, 2020.