BUDGET 2022-2023 – Press release no 3 of 5

QUEBEC, March 22, 2022 /CNW Telbec/ – The government is continuing its actions to increase Québec’s prosperity. In this regard, Budget 2022-2023 provides for new initiatives totaling close to $4$0.2 billion over six years to increase the productivity of the economy, strengthen the integration of immigrants into the labor market, support regional economic development, revive and promote Québec culture.

$2.2 billion to increase the productivity of the Quebec economy

In order to increase productivity and thus increase Québec’s wealth, additional measures totaling close to $2.2 billion will be implemented over the next five years to support innovation and research, pursue the digital shift and stimulate investment in new technologies, entrepreneurship and exports. Of this amount, nearly $10.5 billion will be used, among other things, for the implementation of the Québec Research and Innovation Strategy, the renewal of the Québec Life Sciences Strategy and the strengthening of support for foundations and research organizations .

To continue the digital shift, the government is granting $451 million to complete mobile coverage of inhabited areas and major highways in Québec, accelerate the pace of the government’s digital transformation and launch a new program to strengthen cybersecurity. Investments totaling $224 million are also planned to stimulate investment in new technologies, entrepreneurship and exports.

$290 million to strengthen the employment integration of immigrants

To promote the integration of immigrants, the government is providing more than $290 million over five years in Budget 2022-2023 to increase support for immigrants to learn French, attract immigrants to the regions and speed up the processing of applications for ‘immigration.

$1.5 billion to support regional economic development

The government is also supporting regional economic development by investing close to $1$0.5 billion over six years, including $255 million to support regional air transportation, $114 million to invest in regional ground transportation infrastructure, $250 million to prepare the tourism sector for recovery, 163 million dollars to promote the development of forestry and the protection of wildlife capital, and $627 million to continue the growth of the bio–food sector.

$258 million to support the revival and promotion of Québec culture

The cultural sector and its artisans have been hit hard by the pandemic and need government support to ensure a successful recovery. In this context, the government is granting $258 million over five years to support the cultural sector in order to offset the effects of COVID-19, promote this sector and promote our cultural heritage.

An amount of $72 million will be used to extend certain measures put in place during the pandemic to support, in particular, the broadcasting of Quebec programs and maintain audiovisual production capacity. As the cultural sector is poised to resume its boom, $157 million in funding is also on the way to help it shine.

Quotes:

“The Quebec economy has recovered remarkably from the effects of the pandemic and we are continuing to act to stimulate its growth by focusing on increasing productivity and the contribution of all regions. The 2022-2023 budget also allows us to support the cultural sector and its artisans, which have been particularly affected over the past two years.”

Éric Girard, Minister of Finance of Quebec

Related link:

All the details on the 2022-2023 budget: www.budget.finances.gouv.qc.ca/budget/2022-2023/index_en.asp.

SOURCE Office of the Minister of Finance

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Show original content: http://www.newswire.ca/en/releases/archive/March2022/22/c0215.html

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