Québec City, Thursday, May 24, 2007 – "In recent years, our government has made an unprecedented effort to halt the deterioration of our infrastructures. For the benefit of future generations, we must now go one step further. This is why I am announcing that the government will table a five-year public investment plan in the fall," said Minister of Finance and Chair of the Conseil du trésor, Monique Jérôme-Forget, as she tabled the 2007-2008 Expenditure Budget.
The plan forecasts $30 billion in investments over 5 years, two-thirds of which will be allocated to preserving fixed assets and clearing the maintenance deficits of public infrastructures that have accrued due to many years of underfunding.
"This is a bold plan aimed at restoring our hospitals, our educational institutions, our roads, our water systems, and our cultural and research facilities to the condition they were in when they were built,” said the Minister.
Since the government took office, it has announced unparalleled investments in public infrastructures, mainly in the health and social services, education, recreation and sport, transportation, municipal affairs, culture and research sectors. In 2007-2008 alone, investments in public infrastructures are forecast to reach $6.4 billion, an increase of $1.5 billion over 2006-2007.
Under the preservation of fixed assets policy announced in 2004, investments will total $2.7 billion in 2007-2008, which is nearly double the amount in 2003 2004. This policy, recommended by Québec’s Auditor General several years ago, is based on recognized North American standards, allocating to the preservation of public infrastructures a budget equivalent to 2% of the replacement value of buildings in the health and education sectors. An additional budget allocation of 1% is earmarked for functional renovations in the health sector.
"With these funds, we will be able to replace all of our medical equipment over 10 years. In addition, specific allocations are assigned to the health and education networks to replace and modernize computer equipment and continue to deploy the health infoway,” said the Minister.
"Like all Quebecers, I want our children to go to schools that are in good condition and our seniors to live in healthy and comfortable residences. I want our roads to be comparable to those of our neighbours. I want our infrastructures, some of which are currently a source of embarrassment, to be a source of pride in the future. The plan we have announced will enable us to achieve these aims,” Minister Jérôme-Forget concluded.
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