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Quebec government offers support for manufacturers

The Quebec government has announced that it will devote more than $620 million to the ailing manufacturing sector.


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November 26, 2007 by Canadian Plastics

The Quebec government has announced that it will devote more than $620 million to the ailing manufacturing sector.

Of that amount, manufacturers will see $178 million in tax measures and $442.6 million in budgetary relief.

As part of the tax measures, the government will introduce a new temporary refundable tax credit for manpower training in the manufacturing sector. According to the government, the assistance will consist of a refundable tax credit of 30 per cent that an eligible employer in the sector may claim regarding certain training expenditures.

The Quebec government will also raise the basic rate of the capital tax credit to 15 per cent of the amount of the eligible investment, up from 10 per cent.

Quebec Premier Jean Charest called on the federal government to offer assistance for Canadian manufacturers, citing the high Canadian dollar as a major debilitating force.