Montréal, November 26, 2014 – The Board of Trade of Metropolitan Montreal welcomes the tabling of the 2015 municipal budget, which significantly reduces spending over last year. This is a first since the creation of the new City in 2002.
“Mayor Coderre has shown that a municipal administration the size of Montréal can reduce its spending, while investing more in strategic initiatives,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “We applaud this judicious, responsible budget management, particularly given the current context.”
“We are glad to see that the city administration limited the property tax increase to 1.8% for owners of residential buildings and 2% for owners of non-residential buildings, a rate similar to that of inflation,” Michel Leblanc said. “However, taking into account the additional taxes imposed by the boroughs, Montrealers’ total tax bill will increase by up to 4.5% in the coming year. This increase is serious cause for concern given that Montréal taxpayers already pay some of the highest taxes in North America.”
“It’s also a budget that recognizes the role that culture plays in the city’s economy, as shown by the increased investments for cultural and recreational activities,” Michel Leblanc added. “These investments, combined with the additional amounts allocated to the Society for the Celebration of Montréal’s 375th Anniversary, will offer the city visibility and leave a legacy for future generations.”
Public transit and infrastructures: central priorities
“We congratulate the Coderre-Desrochers administration for having increased the amount allocated to public transit by $30 million,” Mr. Leblanc said. “The municipal budget for 2015 highlights the importance of investing more in public transit. Now more than ever, the Société de transport de Montréal (STM) needs funding that will allow it to develop a quality offer. Our study on public transit published in 2010 demonstrated the importance of public transit for the city’s economy and for a competitive business environment.”
“There is great deal of pressure on the city’s finances,” Michel Leblanc said. “As the driver of Québec’s economy, Montréal has urgent needs to meet. We are impatiently awaiting the outcome of negotiations between the Government of Québec and the Ville de Montréal, so that the city can receive metropolitan status and have additional powers and sources of financing.”
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal has over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration and innovation. The Board of Trade also offers a range of specialized services to individuals and to business of all sizes to support them in their growth at home and abroad.
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Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
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