Financial framework of Quebec solidaire: the rich and the companies will have to pay

Québec solidaire's financial framework: the rich and businesses will have to pay< /p> UPDATE DAY

TROIS-RIVIÈRES | A supportive government would increase taxes for taxpayers whose annual income exceeds $100,000, in addition to taking large sums from the coffers of large corporations.

Québec solidaire (QS) presented its financial framework at the Boréalis Museum on Friday, on the banks of the St. Lawrence River in Trois-Rivières. As promised, it is a balanced budget as of the second year.  

QS achieves this, however, by fetching more revenue, as well as through some savings.   

In addition to the tax on assets announced at the beginning of the week, Québec solidaire would ask for an additional contribution from the wealthiest taxpayers.  

A citizen who declares $100,000 annually would have to pay $170 what's more. The amounts would increase to $630 for $125,000 in income, $1,130 for $150,000 and so on.  

Add to this the tax on large fortunes and inheritance as well as a “household in taxation”, in particular to tax 100% of capital gains.  

In total, a supportive government would seek $4.53 billion from the pockets of the wealthiest.  

“There is no question of raising income taxes for the middle class, no question of 'Asking more from SMEs, assures the spokesperson for training, Gabriel Nadeau-Dubois. With us, the bills of the middle class will go down and people who make more than $100,000 a year will have to contribute a little more.”  

Big companies

But it is the companies of 500 employees who will also have to shell out. They should pay $4.6 billion each year at the end of a first solidarity mandate. 

For example, the increase in the tax on the profit of large corporations would bring in $860 million the fourth year, calculates QS. The inclusion of capital gains for large corporations would generate $990 million in revenue at the end of the mandate.  

It is for these large companies to do their “fair share”, assures Mr. Nadeau-Dubois. “The banks, the web giants, the mining companies, the companies that exploit our water will have to do more, it's a question of justice,” he said.  

Savings 

QS is also counting on savings of $3.45 billion in the fourth year, thanks to a single tax return, the creation of Pharma Québec, and a reform of the remuneration of doctors, especially with the end of incorporation.  

It should be noted that the savings quantified by QS in these three areas would begin next year, despite the need to negotiate agreements with Ottawa and the federations of physicians, in addition to the establishment of Pharma Québec. &nbsp ;

New sources of funding planned for the fourth year total $10.8 billion.  

The party would also suspend payments to the Generations Fund in order to create a new Climate Emergency Fund which would benefit from $500 million during the last three years of the mandate.  

This would have the effect of increase the debt/GDP ratio to 44% from 42% currently.  

The new Climate Emergency Fund, explains Mr. Nadeau-Dubois, aims to enable Quebec to adapt to climate change. This is a second part of the QS climate plan, in a possible second term. “Climate change has started and will continue,” he says. The power we have is to slow them down, to slow them down. […] Therefore, funds must be provided to adapt to climate change.”  

New expenditures

These new revenues would be used to finance the new expenditures planned under a united government. The extensive transit plan would require annual spending of $740 million by the end of the term. Reducing public transit fares would require $500 million per year.  

Other expenditures give an idea of ​​the orientations unique to a united government.  

Thus, QS would invest $30 million annually in order to reduce tuition fees at the university level by 25%.   

$190 million would be spent in the fourth year to provide four weeks of vacation and more for everyone.  

For the Constituent Assembly that would be created to write a new constitution for the independence of Quebec, QS plans to spend $140 million annually over four years.  

More public transit, fewer roads

In terms of infrastructure, additional investments amount to $32.5 billion over the next four years.  

This amount will be used in particular for the Revolution transport project, unveiled in part by QS. This includes new metro lines, trams, tram-buses, etc. planned in Montreal, the SRB project and the new tramway lines promised for the Capitale-Nationale region.  

But, at the same time, highway extension projects would go to the hatch, either: 

  • Third link 
  • Highway 19 between Laval and Bois-des-Filion 
  • Highway 25 towards Sainte-Julienne (Lanaudière) 
  • Highway 30 between Brossard and Boucherville (Montérégie) 
  • Autoroute 13 between Saint-Eustache and Mirabel (Laurentians) 

However, the extension of Autoroute 20 in Bas-du-Fleuve and Autoroute 50 north of Montreal would be maintained. QS justifies these projects by a need to open up or ensure road safety.  

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