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Quebec’s Balanced Books Give Legault Room for Tax Breaks

  • Government unveils measures for families, older workers
  • New C$1 billion fund will help develop ’strategic businesses’
Francois Legault
Francois LegaultPhotographer: Christinne Muschi/Bloomberg
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Quebec plans to balance its budget for a fifth straight year following a record surplus, enabling new Premier Francois Legault to give tax breaks to families, home owners and older workers.

Canada’s second-most populous province benefited from a surge in tax revenue and lower borrowing costs that led to an operating surplus of C$5.6 billion ($4.2 billion) for the year ending March 31, the largest since at least the 1970s. The surplus was C$2.5 billion after contributing to a debt reduction pool known as Generations Fund.