Highlights of Quebec’s 2016-17 budget

QUEBEC – Finance Minister Carlos Leitao tabled Quebec’s 2016-17 budget on Thursday. Here are some highlights:

— Surplus of $2 billion on revenue of $102.6 billion; money will go to paying down debt; $20.2 billion of the $102.6 billion will come from various federal transfer and equalization payments

— Estimated gross debt of $207.8 billion, or 55 per cent of gross domestic product, as of March 31, 2016; projected to stand at $213.7 billion, or 54.7 per cent of GDP, on March 31, 2017

— Expected economic growth of 1.5 per cent in 2016 and 1.6 per cent in 2017

— Additional funding of more than $1.2 billion over three years in education and higher education

— Accelerated elimination, by the end of 2017, of a health contribution for individuals; government estimates Quebecers will save $759 million a year when fully implemented

— Fifty per cent reduction in additional contribution for second child in subsidized daycare; for couple earning $100,000, daily fee for second child falls to $9.36 from $11.41, retroactive to 2015.