Quebec economic policy shifts focus toward SME support

The Parti Québécois (PQ) has proposed a shift in economic policy aimed at prioritizing small and medium-sized enterprises (SMEs) over multinational corporations. PQ leader Paul St-Pierre Plamondon announced a plan to phase in a reduction of the corporate tax rate from 11.5% to 9.5% over one mandate. This initiative would be funded by abolishing the Economic Development Fund and reducing government intervention in the economy.

In a separate development regarding economic stability, the Quebec government has expanded its Emergency Assistance Program for SMEs (PAUPME) to mitigate the impact of U.S. tariffs. The program, designed to assist businesses affected by American customs duties of at least 25%, has lowered its eligibility threshold to include companies with annual revenues between $200,000 and $2 million. The expanded aid also now covers suppliers and subcontractors of exporting businesses, offering interest-free loans of up to $150,000 for the first year.