The government is announcing $2.3 billion in financial assistance to help the municipalities weather the crisis

MONTRÉAL, Sept. 25, 2020 /CNW Telbec/ - The Québec government is announcing that it will make available to the municipalities and public transit organizations $2.3 billion to offset COVID-19-related revenue losses and expenditures.

Québec public transit organizations will share $1.2 billion in financial assistance. An initial $800-million instalment, which includes the $400 million already announced last June, will be paid this fall. Financial assistance totalling $400 million will then be granted in the first months of 2021.

Québec municipalities will receive a total of $800 million to cover COVID-19-related additional costs and revenue losses. The financial assistance will offer the municipalities a lever to enable them to play an active role in economic recovery.

Moreover, $300 million has been earmarked for possible needs arising from the second wave of COVID-19. Decisions concerning the allocation of the funds will be made in the winter of 2021.

Quotations:

"The significant financial assistance announced today will afford the municipalities greater flexibility and predictability to avoid a heavier tax burden for individuals and businesses or reduced services."

Eric Girard, Minister of Finance

"Our government is offering the municipalities the necessary means to confront the pandemic and prepare to contribute actively to economic recovery in Québec's regions. They are indispensable stakeholders whose collaboration has been remarkable during the pandemic and they will be key partners in the recovery. Today's announcement is, therefore, good news for the municipalities, but also for all Quebecers."

Andrée Laforest, Minister of Municipal Affairs and Housing

"The Québec government was the first in Canada to announce assistance, totalling $400 million, last June. Today, we have enhanced the assistance to support public transit organizations to maintain the level of service that the public expects."

François Bonnardel, Minister of Transport

Highlights:

  • The Québec and federal governments will equally fund the $2.3-billion budget allowance under The Safe Economic Start.
  • The payment terms and conditions of the financial assistance will be transmitted later to the municipalities and public transit organizations.
  • A decision will be made in the winter of 2021 concerning the payment of the reserves.

Related link:

For information on COVID-19 and all the assistance programs offered, please visit Québec.ca/coronavirus.

Cision View original content: http://www.newswire.ca/en/releases/archive/September2020/25/c6032.html

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