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The CPA Order submits its recommendations to minister Nicolas Marceau for Quebec's upcoming budget

Montreal, February 7, 2014 – As part of the pre-budget consultations currently underway, the CPA Order submitted a brief today to Minister of Finance and the Economy Nicolas Marceau that includes 17 recommendations. The main conclusion of the brief is that now more than ever Quebec’s economic environment needs a major overhaul.

“To ensure Quebec’s economic health and social development, the government will have to take bold and forward-looking action. We need to question the relevance of our spending and put everything in place to maximize our revenue, said Stephan Robitaille, FCPA, FCGA, Chair of the Order. Our economic and social programs as well as our tax system require a major review, not only to optimize our resources and the performance of our businesses, but all government organizations as well, and to ensure the sustainability of the social safety net we would like to have and the means for providing it.”

Therefore, it is in this spirit that the Order specifically focused on concrete measures for restoring a balanced budget, encouraging entrepreneurship, increasing business productivity and updating Quebec’s tax system. The proposals include the following:

  • an increase in the rates for certain public utilities, while taking care of those most in need;
  • a major review of all government programs using internal, external and independent resources;
  • an increase in the QST on certain “luxury” goods;
  • the facilitation of business transfers within the same family;
  • the elimination of permanent tax credits for a limited number of businesses, in exchange for a reduction in corporate tax rates;
  • the use of our electricity surpluses and the adoption of a downward pricing policy to encourage companies to carry out primary and secondary processing in Quebec;
  • the creation of issue tables mandated to implement concrete changes to simplify our tax system and make it more efficient;
  • the simplification of taxation for seniors by combining various assistance measures in order to reduce them;
  • tougher measures for preventing tax evasion and unreported work.
President and Chief Executive Officer of the Order Daniel McMahon, FCPA, FCA, believes these measures are necessary to meet the enormous challenge Quebec is facing. “It is obvious from the current state of public finances that revenue sources are insufficient to fund the variety of services offered to Quebecers. Despite what some may think or say, there are ultimately only three possible avenues: increase revenue, reduce spending or a combination of the two. Clearly the status quo is no longer an option, and we have to make responsible choices to maintain the quality of the services we wish to offer as a society, without overburdening the middle class.”

The government must seize the opportunity to innovate and develop creative approaches that will make Quebec a leader others will want to emulate. “As we have often demonstrated in the past, we are perfectly capable of rising to the challenges we must now face,” said Mr. McMahon.

The Order’s brief is available online. (In French only)

About the Ordre des CPA du Québec

The Ordre des comptables professionnels agréés du Québec has over 36,000 members and 7,000 future CPAs. The Order ensures the protection of the public and the visibility of the profession. It represents all areas of expertise of the accounting profession, including assurance, financial accounting, management and management accounting, finance and taxation.

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Cédrick Beauregard
Manager, Public Affairs
Ordre des CPA du Québec
T. 514 288.3256 [3024] 1 800 363.4688

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