As Quebec experiences a significant slowdown in economic growth, the province is taking a targeted and proactive approach to tackle pressing social issues, including food insecurity and the housing crisis. In an economic update, Finance Minister Eric Girard announced a projected deficit of $4 billion for the 2023-24 financial year, with plans to return to a balanced budget by 2027-2028.
Despite the challenging economic climate, the Quebec government aims to alleviate the difficulties faced by its residents. While there won’t be direct financial assistance to households like in the past, the mini-budget includes tax breaks to alleviate the burden on Quebecers. To boost investment in various programs, the government will allocate $1 billion annually from its contingency funds.
Addressing the housing crisis is a top priority for Quebec. The government plans to spend $1.8 billion, with half of the funding coming from the federal government, over the next six years to build 8,000 social and affordable housing units. This includes 7,500 housing units for low-and-moderate-income households and 500 units reserved for homeless individuals. An additional $338.2 million over five years will be dedicated to combatting homelessness and offering culturally safe services for Indigenous people.
To address the issue of food insecurity, Quebec will inject $20.8 million into five food organizations. The funding will be distributed to support the Food Banks of Quebec network, the Breakfast Club of Canada, the Tablée des chefs, the Fondation Olo, and La Cantine pour tous. This targeted injection aims to assist these organizations as they struggle to meet the growing demand for food assistance.
Despite criticisms from opposition leaders regarding the absence of measures to aid first-time homebuyers and the increase in home prices, the Quebec government remains determined to address the urgent needs of its citizens. In addition to focusing on housing and food security, Quebec will also allocate substantial funds to adapt to climate change, support communities affected by forest fires, and enhance the forestry industry.
Overall, Quebec’s strategic approach to social challenges during this economic stagnation showcases its commitment to the well-being of its residents. By prioritizing housing, food security, and climate change adaptation, the province aims to create a more equitable and resilient society.
1. How is Quebec addressing the housing crisis?
Quebec plans to invest $1.8 billion over six years to build 8,000 social and affordable housing units. This includes housing for low-and-moderate-income households and units reserved for homeless individuals.
2. What measures are being taken to combat food insecurity?
Quebec is providing a one-time targeted injection of $20.8 million to five food organizations, including the Food Banks of Quebec network, the Breakfast Club of Canada, the Tablée des chefs, the Fondation Olo, and La Cantine pour tous.
3. How is Quebec adapting to climate change?
The government will allocate $961 million over the next five years to adapt to climate change. This includes support for communities affected by forest fires and initiatives to encourage climate change action in the forestry industry.
4. What is the projected economic growth for Quebec?
Quebec’s projected economic growth in 2023 is 0.6%, lower than the originally forecasted 1.4%. However, the government is taking proactive steps to address the economic slowdown and promote future growth.