Press release: City of Montreal budget: Montrealers are paying the price for the Quebec Government's lack of cooperation

Press release

Montreal, November 27, 2003 – With the unveiling of the Tremblay-Zampino 2004 budget, the Board of Trade of Metropolitan Montreal notes with regret and concern that, yet again, the City has no financial latitude and remains overly dependent on property tax revenues.

“Again this year, the City's tax base will not grow at the same pace as its expenses, even though it must incur additional costs to meet crying mass transit and water management needs. Because it does not have new, recurring and predictable revenue sources, the City is forced to negotiate separate agreements with the Quebec government. And since the government does not appear to be in any hurry to respect its commitments made under the City Contract, notably, the transfer of $35 million, Montreal taxpayers are again going to have foot the bill. The Board of Trade therefore encourages the Quebec government to fulfill all its financial commitments under the City Contract so that Montreal can have the means of its ambitions, meet its many responsibilities and fully assume its role as the metropolis of Quebec,” stated Benoit Labonté, president of the Board of Trade of Metropolitan Montreal.

However, the Board of Trade is pleased to see that the subsidy program set up by the City to minimize the impact of the replacement, last year, of the business tax by a tax on non-residential buildings will continue for another year. “The Board of Trade had requested that the Executive Committee keep this program, and we are pleased that Mr. Zampino complied with our request,” continued Benoit Labonté.

The Board of Trade of Metropolitan Montreal has some 7,000 members. Its mission is to be the leading group representing the interests of the Greater Montreal business community. Its objectives are to maintain, at all times, relevance to its membership, credibility towards the public and influence towards government and decision-makers. The Board of Trade relies on its three service branches - Info entreprises, the Electronic Commerce Institute, and the World Trade Centre Montréal - to offer specialized services to the greater business community.