Quebec Finance Minister Eric Girard holds a copy of the 2023-24 budget speech as he responds to reporters at a news conference on March 20, 2023, in Quebec City. Quebec Families Minister Suzanne Roy, centre, and Dr. Gilles Julien look on. THE CANADIAN PRESS/Jacques Boissinot
Quebec Finance Minister Eric Girard’s budget for the 2023-24 fiscal year cuts income taxes and projects a big drop in economic growth.
Girard’s budget, tabled today, includes a cut of one percentage point to the tax rate paid by those in the lowest two income brackets, starting in 2023.
It also estimates that GDP growth will fall to 0.6 per cent in 2023 from 2.8 per cent last year.
The budget projects a deficit of about $1.6 billion, which rises to about $4 billion after it accounts for legally required payments into a fund dedicated to reducing the province’s debt.
More coming.
