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ARTICLE · 07 JUNE 2012

Quebec Budget Stimulus For Plan Nord Implementation And Natural Resource Development

Blake, Cassels & Graydon LLP
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On March 20, 2012, the Quebec government unveiled its budget for fiscal 2012-2013.

CanadaEnergy and Natural Resources
Alain Massicotte
Alain Massicotte
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On March 20, 2012, the Quebec government unveiled its budget for fiscal 2012-2013. Focused on controlling public finances and restoring a balanced budget in 2013-2014, the budget also contains a series of measures to support the Plan Nord and natural resource development.

Plan Nord

Launched in May 2011 by the Quebec government, the Plan Nord is an ambitious sustainable development project for northern Quebec. It establishes a detailed long-term economic and social development plan for a geographic area (1.2 million km2) covering approximately 72% of Quebec's territory. The plan provides for more than C$80-billion in public and private investments over the next 25 years.

The budget speech provided Quebec Finance Minister Raymond Bachand with an opportunity to highlight a number of projects that serve the Plan Nord's objectives, and to announce institutional and budgetary measures to ensure its sustainability.

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