BUDGET 2022-2023 - Press release no. 3 of 5 - Stimulating economic growth to increase Québec's prosperity

QUÉBEC,  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 totalling nearly $4.2 billion over six years to increase the economy's productivity, strengthen the integration of immigrants into the workforce, support regional economic development, and relaunch and promote Québec's culture.

$2.2 billion to increase the Québec economy's productivity

In order to increase productivity and thus boost Québec's wealth, additional measures totalling nearly $2.2 billion will be implemented over the next five years to support innovation and research, continue the digital shift and stimulate investment in new technologies, entrepreneurship and exports. Of this amount, nearly $1.5 billion will be used to implement the Québec Research and Innovation Strategy, renew the Québec Life Sciences Strategy and strengthen support for foundations and research bodies, among other things.

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

$290 million to strengthen job integration for 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 expedite the processing of immigration applications.

$1.5 billion to support regional economic development

The government is also supporting regional economic development by investing nearly $1.5 billion over six years, including $255 million to support regional air transportation, $114 million to invest in regional land transportation infrastructure, $250 million to prepare the tourism sector for recovery, $163 million to foster the development of forestry and the protection of wildlife capital, and $627 million to continue to grow the bio–food sector.

$258 million to support the recovery and promotion of Québec's culture

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

An amount of $72 million will be used to extend certain measures implemented during the pandemic to support, in particular, the broadcasting of Québec shows and maintain audiovisual production capacity. As the cultural sector is ready to get back into full swing, there is also $157 million in funding to help it shine.

Quotations:

"The Québec economy has made a remarkable recovery from the effects of the pandemic, and we are continuing to act to stimulate its growth by focusing on increased productivity and the contribution of all regions. Budget 2022–2023 also allows us to support the cultural sector and its artisans, who have been particularly affected over the past two years."

Eric Girard, Québec's Minister of Finance

Related link:

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

SOURCE Cabinet du ministre des Finances

Source: Fanny Beaudry-Campeau, Director of Communications, Office of the Minister of Finance, Tel.: [phone]; Information: Jacques Delorme, Media Relations Officer, Ministère des Finances, Tel.: [phone]