“The return to a balanced budget can be achieved while reducing personal income tax. In Budget 2023-2024, the government is planning to reduce the two bottom tax rates, thereby increasing Quebecers’ disposable income and stimulating the labour supply. // This tax cut will be funded by more moderate growth in deposits in the Generations Fund and will not reduce the government’s financial capacity to support its various missions. // The decrease in deposits of dedicated revenues in the Generations Fund as of 2023-2024 is consistent with the new debt reduction objective announced in this budget”

“Despite this economic volatility, the government has maintained adequate funding for the government’s main missions, thus generating deficits. With the transition to a more stable economic environment, Budget 2023-2024 is an opportunity for the government to table its plan for a return to a balanced budget. // According to this plan, the deficit will be limited to $4 billion in 2023-2024, then will be progressively reduced by $1 billion per year until fiscal balance is achieved in 2027-2028. // The return to a balanced budget will be achieved while: // reducing personal income tax; // fostering economic growth; // adequately funding the government’s missions; // ensuring that expenditure growth is in line with revenue growth”