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ARTICLE · 24 MARCH 2009

2009-2010 Quebec Budget Highlights

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Quebec Finance Minister Monique Jérôme-Forget tabled the 2009-2010 budget of the Government of the Province of Quebec on Thursday, March 19, 2009 (Budget) not only against the backdrop of a provincial economic recession but also that of a global financial economic crisis.

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Copyright 2009, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Tax, March 2009

Quebec Finance Minister Monique Jérôme-Forget tabled the 2009-2010 budget of the Government of the Province of Quebec on Thursday, March 19, 2009 (Budget) not only against the backdrop of a provincial economic recession but also that of a global financial economic crisis. As a result of several previously announced and new spending initiatives, Quebec will post a C$3.9-billion deficit in 2009-10, its first in a decade, and there will be a C$3.8-billion shortfall in 2010-11. To get back to a balanced budget by 2013- 14, the Budget proposes raising the Quebec sales tax by one per cent beginning in January 1, 2011, maintaining Quebec's annual spending increases at no higher than 3.2% starting in 2010-11, indexing government fees as of January 1, 2011, and cracking down on tax avoidance and evasion schemes (see our February 2009 Blakes Bulletin on Tax: Quebec

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