A tax increase “limited to 2.5%” in Quebec in 2023, announces Marchand

The mayor of Quebec, Bruno Marchand, is already announcing his colors for the next Quebec City budget by promising to limit the increase in residential and commercial taxes to 2.5% in 2023.

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Despite the inflationary pressures that are also weighing down the economy of Quebec City, the mayor made this announcement during an activity of the Chamber of Commerce and Industry of Quebec at noon at the Château Frontenac, in order to reassure the business community.

« It’s a choice we made and we assume » even if this decision will result in a « loss of $ 40 million, » he said.

The mayor also announced a new debt reduction target. By 2030, he says he wants to reduce the debt-to-income ratio to 70%. This ratio is currently 96%.

More details to come…


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