Inflation at 6%: Minister Girard confirmed fiscal strengthening in the fall

In March, Finance Minister Eric Girard expected an inflation rate of 4.7% in 2022, a forecast revised upwards on Thursday, which now sets the bar at 6%, bad news for consumers, more worried about what’s next.

To avoid population discontent, especially as the election campaign approaches, Minister Girard on Thursday confirmed the government’s intention to give taxpayers new financial assistance. In particular, Quebec plans to tailor its tax incentives to those in Ottawa for buying a first home.

At a press conference, he suggested that the amount paid to taxpayers would be known during the election campaign, so somewhere in September, and that the check (or tax credit) would be paid in November, roughly a months after the general election in Quebec.

I think our intentions will be clear during the election campaignsaid the minister, and added that there would be an election in October and the new government, the new Minister of Finance will have to file an update to the budget. The fall update usually includes tax action. The economic update is always published in November and the budget in March.

Another $ 500 from Quebec?

Mr. Girard would not say which formula Quebec would favor: either a fixed amount of $ 500 sent to all taxpayers earning less than $ 100,000, as of last time, or an amount paid to some already targeted clients, who are more financially vulnerable. .

With the data we have, we have data up to April, in terms of inflation, there will be a publication of the May figure by the end of June, inflation seems to be closer to 6% than 5%.he said, acknowledging that the figure circulating in the spring was Too low.

As for the amount to be paid, it is too early to fix it, the data available to determine the true inflation rate for the current year is not available.

Last fall, the Legault government announced a $ 200 to $ 270 check for low -income people. Nearly 3.3 million Quebecers received it.

Then, in his final budget, in March, he offered a check for $ 500 to all taxpayers with a net income of less than $ 100,000, or 94% of the population. This measure costs public finances $ 3 billion.

At his party’s last convention, Premier François Legault made a promise not to be forgotten the purse of the Quebecersaffected by rapid inflation.

The CAQ government will not let you down in the face of inflation and will continue to give you a way to get past ithe promised by the end of May, tax cuts were also hanging.

Since then, opposition parties have accused him of wanting to “buy” votes and compare him to former Prime Minister Maurice Duplessis.