On March 20, Quebec Finance Minister Raymond Bachand unveiled his 2012-2013 budget to the National Assembly in Quebec City. The budget is characterized by its lack of tax increases and the focus on the Plan Nord.
The budget outlined the path to fiscal balance by the year 2013-2014 and to promote growth in jobs. The government is creating a new agency called Ressources Québec which will invest $1 billion to purchase shares in the mining and oil industries.
Quebec will also invest $85 million to improve the tourism industry as well as $35 million over two years to go into the development of national parks and territories. Cultural heritage will receive in total $95.5 million to promote museums and diffusion of digital culture.
Seniors will benefit from the current budget as health services will be improved thanks to a $2.3 billion cash infusion. Plus, $76 million is being allocated to programs to keep seniors active in the community for longer as well as aiding in the transmission of knowledge from seniors to the general public.
The budget also touts Quebec as the most environmentally friendly place in North America. In order to ensure Quebec’s active role in maintaining its green position the government has introduced a second Climate Change Action Plan with investments of around $2.7 billion in order to help encourage Quebec to become even more sustainable.