The Quebec government set aside $1-billion in its budget to encourage strategically important business to keep head offices in the province, a measure that could protect the Montreal executive suites of SNC-Lavalin
The Quebec government under Premier François Legault introduced its first budget on Thursday after the first election win of his conservative Coalition Avenir Québec in October. Some highlights:
The province will begin to reduce the $.70 to $13.90 daily surcharge on parents who use the province’s public daycare system. The base universal fee, currently set at $8.25, will be the only cost parents pay in 2022. Ottawa could bar the company from bidding on federal projects for 10 years, if convicted, and a depressed share price has raised the spectre of takeover or an eventual headquarters move.
The measure is part of an overall budget that will increase spending by 4.7 per cent while maintaining a balanced budget after $2.5-million is set aside in Quebec’s debt repayment fund. The budget boosts infrastructure spending by $1.5-billion per year over the next 10 years to update the province’s aging public works.
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