Excerpt

TABLES AND CHARTS

BUDGET 2017-2018March 2017

2

Sources: Institut de la statistique du Québec, Statistics Canada and Ministère des Finances du Québec.

A SHARP AccElERAtion in tHE EconoMY

Economic growth in Québec (Real GDP, percentage change)

Average 1.7

Average 1.2

1.01.4 1.3 1.2

1.7 1.71.6

2012 2013 2014 2015 2016 2017 2018

3

(1) Forecasts of the Ministère des Finances du Québec for Québec and Canada and forecasts of the Conference Board of Canada for Ontario.Sources: Institut de la statistique du Québec, Statistics Canada, Conference Board of Canada and Ministère des Finances du Québec.

EconoMic GRoWtH tHAt iS REFlEctED in tHE StAnDARD oF liVinG oF QUEBEcERS

Standard of living(Real GDP per capita, index, 2007 = 100)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (1)

Québec Canada Ontario

2018Qué.: 105.7Can.: 105.5Ont.: 105.3

2016Qué.: 103.8Can.: 103.4Ont.: 103.5

2009Qué.: 99.1Can.: 95.9Ont.: 95.1

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Source: Statistics Canada.

cHAnGE in EMPloYMEnt AnD in tHE UnEMPloYMEnt RAtE in QUÉBEc

(thousands of jobs and percentage rate)

6.4%in February 2017

4 192jobs in

February 2017

7.8% in April 2014

4 041 jobs in

April 2014

Unemployment rate

150 500 jobs created

since April 2014

Jobs

December June December June December June December

5

(1) January to December 2016.Source: Statistics Canada.

QUÉBEc: tHE StRonGESt JoB cREAtion in cAnADA

90.883.6

75.5

3.3 3.0 -0.3 -0.6 -5.7 -6.2 -14.4

QUÉ. N.S. MAN.ONT. N.B. SASK.B.C. P.E.I. N.L. ALTA

Job creation in canada(1)

(thousands)

6

Source: Statistics Canada.

QUÉBEc lEADS in non-RESiDEntiAl inVEStMEnt FoR 2017

4.9 4.0 3.43.40.8

-0.6 -1.5 -1.9-4.2

-17.7-20.1

QUÉ. N.S. MAN.ONT. N.B.SASK. CAN.B.C. P.E.I.N.L.ALTA

total non-residential business investment in Québec, outlook for 2017(percentage change)

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MAintAininG A BAlAncED BUDGEt: A conDition KEY to QUÉBEc’S EconoMic PRoSPERitY

(1) Budgetary balance within the meaning of the Balanced Budget Act.

Budgetary balance(1) from 2012-2013 to 2021-2022(millions of dollars)

- 1 600

- 2 824

- 725

2 191

250 0 0 0 0 0

2012- 2013

2013- 2014

2014- 2015

2015- 2016

2016- 2017

2017- 2018

2018- 2019

2019- 2020

2020- 2021

2021- 2022

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(1) Data have been restated to account for the elimination of the Fund to Finance Health and Social Services Institutions.

Program spending growth(1) (per cent)

1.61.8

0.4

3.84.14.1

2.4

3.33.0 2.8 2.8

2014- 2015

2012- 2013

2015- 2016

2013- 2014

2016- 2017

2017- 2018

2018- 2019

2019- 2020

2020- 2021

2021- 2022

cHAnGE in PRoGRAM SPEnDinG

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(1) Consolidated expenditure excluding debt service.Sources: Department of Finance Canada and Ministère des Finances du Québec.

Growth in provinces’ mission expenditures(1) (per cent)

A coMPARAtiVE looK At SPEnDinG

2014-2015 2015-2016 2017-20182016-2017 2018-2019

Québec Balanced budget

in 2015-2016

Av.2.7%

1.41.1

4.5

3.8

2.9

British columbia Balanced budget

in 2013-2014

Av.3.2%

2.5

5.1

5.6

2.1

0.9

ontario Balanced budget

in 2017-2018

Av.2.6%

2.1

3.6

2.3

1.9

3.1

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tHE GoVERnMEnt iS inVEStinG in PUBlic SERVicES

Note : Totals may not add to rounding.(1) Includes the impact of the elimination of the Fund to Finance Health and Social Services Institutions.(2) To access growth in 2017-2018 based on comparable spending levels, the percent changes for that year were calculated by excluding, from 2016-2017 expenditures, transfers from the provision for francization attributed to the Éducation et Enseignement supérieur portfolio ($78.5 million) and including them in the 2016-2017 expenditures of the other portfolios.

2016-2017 2017-2018 2018-2019 2019-2020

Santé et services sociaux(1) 35 269 36 764 38 169 39 335

% change 2.9 4.2 3.8 3.1

Éducation et Enseignement supérieur 17 244 17 882 18 559 19 202

% change 3.9 4.2 (2) 3.8 3.5

Other portfolios 16 685 17 067 17 502 17 667

% change 2.3 1.8 (2) 2.6 0.9

Contingency Fund 554 879 536 536

Fiscal room – – 250 500

PRoGRAM SPEnDinG 69 752 72 591 75 016 77 239

% change 3.8 4.1 3.3 3.0

Program spending by major portfolio(millions of dollars)

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inVEStMEntS oF nEARlY $40 Billion oVER FoUR YEARS in QUÉBEc inFRAStRUctURE

8.58.68.6 8.68.68.68.9

2015-2016

2017-2018

2019-2020

2021-2022

2023-2024

2025-2026

8.2

$4.9 billion more(1)

7.2

Made

2015-2025 QIP

2017-2027 QIP

Average 2002-2003

to2014-2015

(billions of dollars)

10.0

8.6

10.0

8.7

10.0

8.7

9.6

8.7

(1) Additional investments for the years included in both the 2015-2025 QIP and the 2017-2027 QIP namely, 2017-2018 to 2024-2025.

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Note : Investments of $70 million are planned beyond 2019-2020, bringing infrastructure investments under the Plan for Success in Education and Higher Education to $1 130 million.

inVEStinG in EDUcAtion AnD HiGHER EDUcAtion inFRAStRUctURE

Plan for Success

Provided for under the QIP

2017-2018 2018-2019 2019-2020

1 7491 450

516

1 854

185

359

1 809

2 2652 039

infrastructure investments for education and higher education under 2017-2027 Québec infrastructure Plan(data in millions of dollars)

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tHE GEnERAtionS FUnD: A PoWERFUll inStRUMEnt oF intERGEnERAtionAl EQUitY

202220172009

Without the Generations Fund

With the Generations Fund

50.1

52.7

47.1

55.7

53.1

Gross debt at March 31(percentage of GDP)

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cloSE to $30 Billion to SUPPoRt tHE QUÉBEc EconoMY

coSt oF nEW initiAtiVES

SUPPoRt FoR tHE EconoMY

March 2017 Québec Economic Plan 10 709 29 458

Encourage business investment 165 14 517

Other measures to, among other things, improve Quebecers’ standard of living and increase sustainable mobility 8 037 9 374

Foster economic development in all regions 1 241 2 666

Stimulate research and innovation to build the Québec of tomorrow 834 2 226

Promote entrepreneurship and ensure financing for growing businesses 432 675

Support for the economy under the March 2017 Québec Economic Plan(data in millions of dollars)

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increase inpublic services

BAlAncED PUBlic FinAncES – An ASSEt FoR EconoMic GRoWtH

Fiscal balance, confi dence and economic growth

Fiscal balance

Increase in investment and consumption

Acceleration of economic

growth

Increase in government

revenues

Higher business and consumer

confi dence

Expansionary fi scal and

budgetary measures

Lower borrowing

costs

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Source: Conference Board of Canada.

110.6

135.2

Canada

Québec

20172012 20142013 2015 2016

PEAK lEVElS oF conSUMER conFiDEncE

Change in the Consumer Confidence Index(points, 2014 = 100)

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PERMAnEnt tAX REDUction oF MoRE tHAn $1 Billion PER YEAR

Couple in which each person paid a health contribution of $200

2016 2017 2018

Gradual elimination of the planned health contribution 50 400 400

Refund of the health contribution paid in 2016 350 – –

General tax reduction – 110 110

totAl 400 510 510

Record since March 2015: a decrease in the personal tax burden of almost $7 billion over six years

illustration of the tax burden reduction for a couple with two equal work incomes of $45 000