QUEBEC CITY — Quebec Finance Minister Carlos Leitao has introduced the first provincial budget that will balance the books for the first time in six years.
The zero deficit budget of 2015-16 may help improve the province’s credit rating and lower future borrowing costs but, perhaps more importantly, it’s supposed to help stimulate the economy out of its lethargic growth.
A series of corporate tax cuts and tax shields for individuals are designed to increase private investments, create jobs and put more money into the pockets of Quebecers.
“The economy will be supported by the income available by the pocket of every citizen,” Yves-Thomas Dorval of the Conseil du patronat du Québec told Global News.
“If they don’t have enough income in their pocket they won’t be able to consume to buy products to run the economic growth.”
The tax rate for companies operating in the natural resources sector such…
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