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Quebec takes axe to corporate welfare: Liberal budget: 'Paying more in support for business than for daycare'.
(From Financial Post)
Byline: Bruce Spence
Quebec finance minister Yves Seguin yesterday took aim at the province's reputation as a haven of economic interventionism and corporate welfare by slashing tax aid to businesses by $759-million -- or 27% -- in the 2004-2005 fiscal year.
"We are paying more in support for businesses than for daycare services," Mr. Seguin said as he tabled the first budget of Jean Charest's two-month-old Liberal government. "The time has come to reassess all of our interventions in terms of our social priorities."
But the government's election pledge to cut personal taxes by $1-billion a year over a five-year-period, or 27%, won't kick in until the next budget, meaning Quebecers will remain the most heavily taxed citizens in North America. Instead, Mr. Seguin set his sights on tackling debt, promising…
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