Quebec’s Response in our 9th Step of Economic Recovery

+ The budget announced this week introduced new sources of revenue and tighter control of spending.

+ A second 1% increase will bring QST to 9.5% effective January 1, 2012.

+ New annual $25 health-care fee with yearly increases to $200 by 2012, and a possible health deductible in the future.

+ Compensatory tax on financial institutions: temporary increase levied until March 31, 2014.

+ Electricity rates for individuals and business to rise ¼% annual over 4 years beginning April 2014.

+ Fuel Tax: 4 consecutive increases of $0.01 per litre, beginning April 1.

+ Quebec City and Montreal are allowed to levy an additional $0.015 per litre fuel tax for public transit and infrastructure.

For more information on Step 9 – “In the red zone” Governments Force Turnover, click here

Steel Prices Jumping

+ Mittal, world’s largest steelmaker, is scrapping 40 years of annual pricing.

+ Japanese steel prices will be up as much as 90%.

+ Largest users of steel are car makers.

For a review to ensure that your portfolio is positioned appropriately for 2010, please click here