BUDGET 2018-2019 - Press release no. 6 of 6 - The Québec Economic Plan - March 2018 - The Québec Government Is Supporting the Taxi Industry

QUÉBEC, March 27, 2018 /CNW Telbec/ - The taxi industry has been experiencing significant change for a few years now due to technological advances and ongoing developments in sustainable mobility. At the heart of the industry are taxi drivers and taxi owners whose main family income is often derived from taxis.

These recent changes have an impact on the value of permits, especially in large urban centres.

The government wants to continue discussions with the taxi industry within the working group set up in December 2017. Given the impact that the uncertainty surrounding this transformation has already had on the persons concerned and their families, the government has decided not to wait for the working group to finish its work before taking action.

The March 2018 Québec Economic Plan provides for compensation for the loss in value of taxi driver's permits relating to the transformation of the industry. The government is therefore confirming its support for the taxi industry and invites the sector's representatives to continue discussions within the working group to find solutions for modernizing the sector, which is currently in a period of profound change.

To help taxi owners continue the transition to a modernized industry, the government is providing for the payment of a total of $250 million to taxi owners to compensate them for the loss in value of their permits.

Moreover, the government is providing for a temporary enhancement of the tax credit for holders of a taxi drivers' permit. This assistance is in addition to the $44 million over five years announced in December 2017 to support the modernization of the industry.

Quotation:

‟The taxi industry is experiencing significant change. This situation has repercussions on drivers, owners and their families, as we are fully aware. Analyses must continue to be conducted. We invite stakeholders to continue discussions after the tabling of the budget to find long-lasting solutions that will enable the industry to meet the challenges facing it."

Carlos Leitão, Minister of Finance of Québec

Related link:

Additional infortmation:
http://www.budget.finances.gouv.qc.ca/budget/2018-2019/en/documents/AdditionalInfo_18-19.pdf

SOURCE Cabinet du ministre des Finances

Audrey Cloutier, Press Relations Officer, Office of the Minister of Finance, Phone: [phone]