QUÉBEC, March 20, 2012 /CNW Telbec/ - "Québec needs all of its brawn and all of its brain. Its labour force already includes valuable resources for meeting the economic challenges awaiting it: experienced workers. It is imperative to tap the potential of these workers so that the considerable human capital they represent is turned to advantage. Accordingly, Budget 2012-2013 provides for investments of $84 million over three years as part of the strategy for active participation by experienced workers," declared today Minister of Finance Raymond Bachand, in tabling the Québec government's Budget 2012-2013.
Tax relief for workers and businesses
The Minister announced the introduction, as of 2013, of a 10% payroll tax reduction respecting workers 65 and over. When fully implemented, the tax relief could reach $1 000 per employee. This reduction will benefit 30 000 Québec businesses.
In addition, the new tax credit for workers 65 and over, in effect since January 1, 2012, will increase gradually until 2016. When fully implemented, it will represent a tax reduction of $1 500 per employee. It will benefit 100 000 people.
$361 million invested in skills development
"A better-trained labour force is not a choice, but a necessity," opined the Minister. The Commission des partenaires du marché du travail and Emploi-Québec launched the Investissement-compétences initiative, in which $361 million over three years will be invested. The purpose of the program is to mobilize businesses and workers sot that businesses invest in labour skills, and to create a genuine culture of continuing education and skills development in Québec. Under the initiative, it will be possible to create and maintain quality, sustainable jobs geared to the future.
In addition, $60 million will be devoted to upgrading specialized facilities and boosting the supply of vocational training.
Capitalizing on the contribution of young people and new graduates
"If the potential represented by experienced workers is under-used, so is that of inexperienced workers, regardless of their level of skills," affirmed the Minister. To promote the participation of more young people in the labour market and increase the labour supply, he announced that the Youth Alternative Program, which helps young recipients under 25 to leave social assistance, would receive an extra $4 million a year in funding as of 2013-2014.
He also announced an increase in the tax credit, from $8 000 to $10 000 for new college and university graduates who settle in a remote region. In all, 17 000 young people will benefit from this measure.
Integrating newcomers into the labour force
Moreover, $27 million in investments will be made over the next three years to promote better integration of newcomers into the labour market in all regions of Québec.
Budget 2012-2013 provides for the implementation and enhancement of a series of measures and programs for more rapid and efficient selection, and for assistance for newcomers throughout their job search process. In total, 15 000 additional interventions a year should be carried out.
"Adapting the way we do things will enable society to benefit from the expertise and skills of all our workers," concluded the Minister.
For further information:
Office of the Minister of Finance, Minister of Revenue
and Minister responsible for the Montréal region
Director of Communications