Quebec's $630M Tax Cut for SMEs

0:00It's April 29th. Welcome to Canada News Today, powered by AI, I'm Cory with the story. Quebec premier Christine Freshet just dropped big news for small and medium businesses announcing a $630 million tax cut over five years. This move targets 75,000 companies across the province, aiming to ease their financial squeeze right when they need it most. The announcement came Wednesday in Bolshevill, a key spot south of Quebec City packed with these businesses. Many there have taken hits from U.S. trade tariffs under President Donald Trump, and it landed just two days after Freshet's trade mission, too, Washington, where she pushed hard for Quebec's economic edge. Owners are looking at real relief, saving about $5,000 a year on average. That drops their tax rate from 3.2% to 2.2% on the first $500,000 in revenue, putting cash, back into operations and growth. This wasn't in the March budget from finance minister Eric Gerard, but Freshet pulled

1:00from a $1.3 billion slush fund over five years for campaign promises. She's got $250 million ready this year, with the cut costing 30 million in the current fiscal year. Expect more moves like this as the province balances budgets and backs its business backbone, keeping Quebec competitive in tough trade times.