MONTRÉAL, March 26, 2015 /CNW Telbec/ - With initiatives planned in marine transportation, mining, pulp and paper and regional development, the 2015 Québec Budget once again confirms the key role of the Fonds de solidarité FTQ in Québec's economic development.
"Since its inception, the Fonds de solidarité FTQ has always been the government's partner of choice where job creation and economic development are concerned. We are pleased to see the Minister of Finance reiterate his confidence in us by looking to partner with us to further regional development and the growth of the pulp and paper, marine transportation and mining industries," said Gaétan Morin, President and CEO of the Fonds de solidarité FTQ.
The 2015 Québec Budget contains four economic development measures relevant to the Fonds' activities:
- $300 million over the next five years, including $100 million from the Fonds, for the logistics component of the Marine Strategy;
- Extension of SIDEX's mining mandate until 2025 for exploration;
- Expansion of the Fonds Valorisation Bois mandate to encompass innovation in the pulp and paper industry; and
- Increase in the investment threshold of the Fonds régionaux de solidarité FTQ from $2 million to $3 million as to ensure a greater capacity for regional development.
"By not capping the shares issued by the Fonds, the Government of Québec is making it easier for the middle class to save for retirement and allowing the Fonds to deliver on its economic development mission. The government's backing of labour funds and the support shown by the business community and opposition parties in Québec and Ottawa alike send a clear message: the federal government must maintain the federal tax credit," added Mr. Morin.
"Last week's Godbout report and today's Budget both acknowledge the strategic role of the Fonds de solidarité FTQ. With the support and confidence of our 600,000 shareholders, we are proud to be involved in shaping Québec's future," concluded Mr. Morin.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.5 billion as of November 30, 2014, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in more than 2,450 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
SOURCE Fonds de solidarité FTQ
For further information: For media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: 514 850-4835, Mobile : 514 703-5587, Email: [email protected]; For Fonds de solidarité FTQ shareholders: Shareholder Services, Fonds de solidarité FTQ, Montréal: 514 383-3663, Québec: 418 628-3663, Toll Free: 1 800 567-3663