On June 4, 2014, the first budget (Budget) of the new Liberal
government, in power since April 7, 2014, was tabled in the
Québec National Assembly. The Budget provides for certain
measures to relaunch the Plan Nord, as announced by the Liberals
during the latest election campaign.
The Plan Nord as originally proposed by the Liberals in 2011
included major investments totalling more than $80 billion over 25
years. Renamed "The North for All" by the Parti
Québécois following its election, the project was
marked by uncertainty and a significant reduction in investment,
partly due to the stormy reform of the Québec Mining
Act.
The budget of the Northern Plan Fund (the Fund) allocated to the
Plan Nord consists of $63 million for the 2014–2015 year and
could reach up to $2 billion by 2035. The Fund will be partially
financed by the reinvestment of direct and indirect tax benefits
resulting from economic activity triggered north of the 49th
parallel.
