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Quebec Budget 2024: A deficit and no new measures for housing

Quebec Budget 2024: A deficit and no new measures for housing

The Association des Propriétaires du Québec (APQ) has been very disappointed by the announcements of the 2024-2025 Quebec budget.Housing is at a turning point with a real housing crisis, and yet the government's two priorities are Health and Education. Two very important positions, but why forget all the other areas?

Builders' associations, CMHC, all agree that there is a shortage of hundreds of thousands of housing units in Quebec.Yes, Minister Girard announced $1.8 billion in the November 2023 economic update to build 8000 new housing units, but it is not enough to make up for the deficit of missing housing. And above all, no help to renovate the existing rental stock.

The March 12, 2024 budget does not contain any assistance to renovate the rental stock. No incentive to stimulate construction and renovation. The proposal to credit or eliminate the QST on building materials that have not been retained by the CAQ. Last September, Minister Girard announced his reluctance in this regard(1): "It is a measure that is expensive and diffuse when we look at the number of housing units that will be created"There is

also no announcement concerning the fixing of rent and a significant reduction in the depreciation period.

The only positive point for tenants is the extension of the Shelter Allowance until 2027.



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Québec Landlords Association

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