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2012 Quebec Election

2012 Quebec Election. Liberal, Parti Quebecois (PQ) and Coalition for the Future of Quebec (CAQ) . PQ Party . Is a left of centre party

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2012 Quebec Election

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  1. 2012 Quebec Election Liberal, Parti Quebecois (PQ) and Coalition for the Future of Quebec (CAQ)

  2. PQ Party • Is a left of centre party • They tend to favour government intervention in the economy – i.e. government has a strong influence on the economy, they are in favour of state run businesses, and are willing to have higher tax rates so as to help pay for social programs (health care, education, child day care, employment insurance and etc…) • They are also a Quebec Nationalist party – i.e. they are looking for a way to ensure stronger Quebec Sovereignty and eventually Quebec separation

  3. PQ Economic Policy • The Parti Quebecois wants to eventually hold a referendum to separate from the rest of Canada. • It is promising to: • * balance the budget by 2013-14, by limiting spending growth to 2.4 percent a year over the next five years – i.e. reduce spending government money in the economy. • * create two new income tax levels for individuals earning more than C$130,000 a year and will boost government revenues – i.ethey are looking to increase taxes on higher income earners. • * review the mandate of the province's pension fund (Caisse de depot et placement du Quebec), so it can invest more in Quebec– i.e. find a way to use the money that pensioners invest in order to invest that money into Quebec.

  4. PQ Economic Party • * set up a $10 billion fund, to be administered by the Caisse, which would take stakes in Quebec companies and prevent foreign takeovers. • * maintain a freeze on some electricity rates. The Liberals plan to raise some prices between 2014 and 2018. • * impose a minimal royalty rate of 5 percent on the gross value of all mining output and apply a 30 percent royalty rate on any mining profits above 8 percent. • * invest 3 percent of provincial GDP in research and development. It wants the right to administer federal programs such as employment insurance and economic development, which are currently run from Ottawa.

  5. Liberal Party of Quebec • Is a center (centre right party) • The believe that government has a role in the lives of its citizens, without infringing on individual freedom. • They are ok with SOME government intervention in the economy. They would like some, but tend to be picky about what they will and will not get involved in. • They believe Quebec has a role in Canada and does NOT want to separate.

  6. Liberal Party Economic Plan • The Liberal government announced an $80 billion ($81 billion) plan to develop Quebec's mineral-rich, yet largely desolate north calling this Plan Nord. • The party is promising to: • * set up an investment and savings tool for individuals investing in the Plan Nord. The non-refundable tax credit would be 10 percent of the amount invested, up to a credit of $500 for a $5000 investment. • * create 250,000 jobs and slash the unemployment rate to 6 percent by 2017 from the current 7.6 percent. It says Plan Nord will create or maintain 20,000 jobs annually over the 25 years it will take to roll out.

  7. Liberal Party Economic Plan • * balance the budget by 2013-2014. To keep the budget in the black in 2014-2015, it will limit program-spending growth by 2 percent a year, instead of the previously planned 3 percent. • * take $150 million a year from mining, oil and gas royalties and put it into a fund for debt servicing. • * create a $1 billion fund, managed by economic development agency Investissement Quebec, to help Quebec businesses make foreign acquisitions. • * adopt measures allowing Quebec-based companies to assess take-over bids and give them more power to reject them

  8. Coalition for the Future of Quebec (CAQ) • Is a right of centre leaning party • They believe government should have less involvement in the economy. In return, they think that taxes on the rich and businesses ought to be low (or at least reduced). • They also believe that Quebec has a role in Canada and do NOT want to seperate

  9. CAQ Economic Platform • The party is promising to: • * balance the budget by 2013-2014, in part by slashing government expenses. It says it will cut 7,000 public service jobs, including 4000 at state-owned power company Hydro-Quebec, and will cut spending by save a total of $2.1 billion over five years. • * allocate $13.2 billion dollars to debt servicing over the term of its first mandate. The CAQ says all mining, gas and oil royalties would go to servicing the debt (note they would not change the royalties rate) • * increase tax on real estate profits for secondary residences and cut income tax credits on the profit from share sales. • * create a $5 billion natural resources fund that would take minority stakes in mining projects. The fund would be administered by the Caisse • * impose a moratorium on shale gas exploration and ban asbestos exports.

  10. Source • http://news.yahoo.com/factbox-economic-policies-main-parties-quebec-election-103539379--finance.html

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