Although several voices were raised against tax cuts during pre-budget consultations, a majority of Quebecers would support such a measure to counteract the effects of inflation.
A Léger poll conducted for the Canadian Federation of Independent Business (CFIB) shows that 64% of Quebecers support tax cuts for individuals and SMEs.
“The message from the people to Finance Minister Éric Girard and Prime Minister François Legault is very clear, to fulfill their election commitments,” said François Vincent, CFIB Vice-President in Quebec.
Photo provided by CFIB
Francois Vincent
CFIB Quebec Vice President
Concerned about the surge in voices against the measure, coming from several economists and even from the Conseil du patronat du Québec, François Vincent felt it was important to consult the public.
The poll was conducted February 24-26 among 1,063 Quebecers.
There is no mention of how the tax cuts will be funded. The Legault government has already expressed its intention to draw on the Generations Fund, which aims in principle to ensure intergenerational equity in relation to Quebec’s debt.
Considered good for the economy
Without this funding source context, 57% of survey respondents believed that cutting taxes would be a good move for the province’s economy. François Vincent points out that Quebec ranks third among the states with the highest personal income tax among Organization for Economic Co-operation and Development (OECD) countries and tops Canadian provinces.
“It’s always a bad time for some to cut the tax burden, but if we don’t do anything we’ll remain taxed the most,” insists Mr Vincent, who believes it’s possible for government to cut the tax burden while maintaining the same level of service to the population.
Opposition to tax cuts to support the economy increases with education, from 21% among college graduates to 34% among university graduates.
help SMEs
Regarding corporate taxation, 67% of the survey participants believe that the government should include SMEs in the measures to combat the effects of inflation.
“We are pleased to see that citizens are recognizing the importance of SMEs in the Québec and regional economy,” said Mr. Vincent, adding that they were weakened by the rising costs of their operations.
KEY DATA FROM THE LÉGER SURVEY CONDUCTED FOR THE CFIB
Lowering taxes for Quebecers is a good measure to help them in the face of high inflation.
64% in accordance
24% in contradiction
Lowering taxes on SMEs in Quebec is a good move for the province’s economy.
64% in accordance
16% in contradiction
Citizens can decide better than the government how to use the money from tax cuts.
54% in accordance
30% in contradiction
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