POLITICS

Bloc Quebecois Unveils Financial Plan To Balance 2017-18 Budget

09/23/2015 05:04 EDT | Updated 09/23/2016 05:12 EDT
MONTREAL — The Bloc Quebecois says increasing taxes on big companies and the rich while forcing "monarchic" institutions like the Senate to get a taste of austerity would allow Ottawa to free up the money needed to balance the 2017-2018 budget.

That's part of a financial package that includes a number of small and large measures Bloc Leader Gilles Duceppe made public Wednesday on Day 53 of the federal election campaign.

The Bloc's plan forecasts a return to black ink, which would be made possible in large part by increasing taxes on major corporations to 16.5 per cent from 15 per cent. Big banks and oil companies would see their tax rate climb to 20 per cent from 15 per cent.

People who earn more than $150,000 would also face a tax increase of 1.5 percentage points.

The sovereigntist party, like the New Democrats and the Liberals, is also pushing to get rid of the Conservatives' income-splitting plan for young families.

It estimates the treasury would be enriched by $75 million over three years by slashing the budgets of federal institutions such as the Governor General, lieutenant-governors and the Senate.

The party says the combination of revenues and savings in its financial plan would allow the federal government to attack the fiscal imbalance — a situation the Conservatives maintain does not exist.

Duceppe will get a chance to explain his economic philosophy to a larger audience Thursday evening. The economy is one of the themes to be addressed during the a French TV debate among the federal leaders.

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