The provincial budget is results-oriented according to
the Board of Trade of Metropolitan Montreal
Montréal, May 24, 2007 The Board of Trade of Metropolitan Montreal commends Finance Minister Monique Jérôme-Forget's first budget for its results-oriented approach and effort to boost Quebec's competitiveness.
While this budget takes significant steps to enhance Quebec's competitiveness as an investment destination, more work is needed in terms of training talent, which is clearly the other key element of our economic competitiveness. As such, while we're pleased to see the tuition freeze lifted, we believe this budget should have allocated more money to higher education, said Isabelle Hudon, president and CEO of the Board of Trade.
That said, the Board of Trade was pleased to note that this budget set a date for the complete elimination of the tax on capital. While previous budgets have recognized the insidious effect of this tax, this is the first time a concrete timeline has been set for its elimination, added Ms. Hudon.
Given the importance of boosting investments in productivity, we certainly would have preferred to see this tax abolished more quickly. However, the Minister of Finance decided to prioritize a reduction in taxpayers' burden, another taxation aspect where Quebec must do better. The tax cut will help keep talent at home and will place more value on the effort and performance of Quebec workers, continued Ms. Hudon.
While we will certainly carefully study the plan to be presented in the fall for a 5-year $30 billion investment in infrastructure, we fully agree with the importance the Minister has placed on infrastructure rehabilitation and commend her intention to set aside two thirds of the $30 billion to this end. This is especially important for Montréal because our number one need in this regard is to preserve and modernize what we already have, for example, we need to maintain our metro and replace its cars, and we need to modernize the Bonaventure Autoroute and Notre-Dame Street, said Isabelle Hudon.
In this budget, the government has focused on achieving results. In doing so, we are confident that it will recognize that Montréal is the key to leveraging its investments in Quebec. We're also counting on seeing other concrete results in the short term following the commitment Premier Charest made in his inaugural speech to find ways for the City of Montréal to diversify its revenue sources, concluded Hudon.
The Board of Trade of Metropolitan Montreal has some 7,000 members. Its mission is to represent the interests of the business community of Greater Montreal and to provide individuals, merchants and businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is the largest private organization in Quebec dedicated to economic development.
Coordinator, Media relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4015