BUDGET 2020-2021 - Press release no. 1 of 3 - A record sum of $6.7 billion over six years to fight climate change

QUÉBEC, March 10, 2020 /CNW Telbec/ - The  Québec Budget Plan – March 2020 and the Expenditure Budget 2020-2021, tabled today by Minister of Finance Eric Girard and Minister Responsible for Government Administration and Chair of the Conseil du trésor Christian Dubé, pave the way to unprecedented investments in public transit and the environment aimed at transforming our economy and creating wealth for all Quebecers, while substantially reducing our greenhouse gas (GHG) emissions.

An ambitious plan for electrification and to fight climate change
Québec has the lowest per capita rate of GHG emissions in North America, and the government intends to make sure we remain a global leader in the environment. To that end, the Minister of the Environment and the Fight Against Climate Change will soon present its 2030 plan for a green economy (PGE), which will provide for initiatives totalling $6.2 billion from now to March 2026. This will double annual investments over the amount provided by the previous plan. The PGE will thus become the largest environmental project ever undertaken in the history of Québec.

These investments will make it possible to support key government programs to fight climate change, such as the Roulez vert program, designed to encourage people to buy electric vehicles, and the Chauffez vert program, designed to encourage homeowners using a fossil fuel heating system to replace it with a renewable energy system.

In addition, substantial sums will be invested in measures aimed at adapting to climate change and developing Québec's expertise in the field. In particular, $473 million is earmarked for implementing solutions developed in collaboration with municipalities and the scientific community to mitigate the impact of flooding on communities.

In addition to the $6.2 billion provided in the PGE, an additional sum of nearly $500 million will be directed toward environmental protection measures, such as the implementation of a sustainable agriculture plan and support for various efforts to improve recycling.

Québec is committed to reducing its GHG emissions by 37.5% below their 1990 level by 2030. This target is in line with international commitments.

Major investments in public transit
Resolutely focused on greenhouse gas reduction and climate change adaptation, the 2020-2030 Québec Infrastructure Plan (QIP) provides major investments in the public transit sector, particularly for initiatives to help cities and public transit authorities develop an integrated public transit vision for their territory.

In particular, the QIP is now engaged in six structuring electric public transit projects to be implemented in the following cities and regions:

• Québec
• Gatineau
• Montréal
• Laval
• Longueuil
• Chambly

A positive impact on Québec's economy
This budget forecasts that the various environmental measures, in particular those involving electrification of transportation, will have a positive impact on Québec's economy. These measures should, in particular, improve Québec's trade balance by reducing hydrocarbon imports, which are expected to drop by more than $1 billion, or 7% of projected hydrocarbon imports in 2030. Québec should also see an increase in its exports in the field of green technologies.

Quotations:

"Our second budget marks an important turning point for the future of Québec. By announcing unprecedented investments to implement an ambitious environmental plan, we are banking on the development of a green economy that will enable us to create wealth and considerably reduce our greenhouse gas emissions. Starting today, we are taking decisive action to ensure that our children and grandchildren will live in a green and prosperous Québec."

Eric Girard, Minister of Finance of Québec and Minister Responsible for the Laval Region

"The 2020-2030 Québec Infrastructure Plan is the most ambitious plan ever presented by a government to set Québec on the path to modernity. It will allow us to set in motion the most extensive public transit development project in our history. The quality of life of our citizens and the competitiveness of our major cities and businesses depend in large measure on the performance and appeal of public transit. It is not only an economic benefit, it is a response to the great environmental challenges of our time."

Christian Dubé, Minister Responsible for Government Administration and Chair of the Conseil du trésor

Related links:

All the details of Budget 2020-2021:
http://www.budget.finances.gouv.qc.ca/budget/2020-2021/index_en.asp.

All the details of Expenditure Budget 2020-2021:
https://www.tresor.gouv.qc.ca/expenditure-budget/2020-2021-expenditure-budget/.

SOURCE Cabinet du ministre des Finances