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Generations Fund
The Generations Fund is a fund created by the government of Quebec to reduce public debt and, in so doing, mitigate the intergenerational transfer of the debt burden. Enacted in 2006, the ''Act to reduce the debt and establish the Generations Fund'' targets a debt-to-GDP ratio of no more than 45% by fiscal year 2025-26. Background Quebec incurred little debt before the 1960s, but from 1958 it recorded deficits for 40 consecutive years. When the Generations Fund was created in 2006, Quebec's debt-to-GDP ratio was 42.7%, compared with the Canadian provincial government average of 25%. (Quebec's debt concept used was total debt, which was subsequently replaced by gross debt.) Interest on the debt was Quebec's third largest spending item after health and education, and represented 12.7 cents of each dollar of budgetary revenue. Operation The Generations Fund is dedicated exclusively to repaying Quebec's debt. The act establishing the Fund sets out a precise debt target – by fis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Quebec
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed govern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Debt
A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to the global financial crisis of 2007–2008, and the COVID-19 pandemic. The ability of government to issue debt has been central to state formation and to state building. Public debt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt-to-GDP Ratio
In economics, the debt-to-GDP ratio is the ratio between a country's government debt (measured in units of currency) and its gross domestic product (GDP) (measured in units of currency per year). While it is a "ratio", it is technically measured in units of year, and can be interpreted as the number of years a country needs to pay off its entire debt, if all its GDP is devoted towards it. A low debt-to-GDP ratio indicates that an economy produces goods and services sufficient to pay back debts without incurring further debt. Geopolitical and economic considerations – including interest rates, war, recessions, and other variables – influence the borrowing practices of a nation and the choice to incur further debt. It should not be confused with a deficit-to-GDP ratio, which, for countries running budget deficits, measures a country's annual net fiscal loss in a given year ( total expenditures minus total revenue, or the net change in debt per annum) as a percentage share of tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hydro-Québec
Hydro-Québec is a public utility that manages the generation, transmission and distribution of electricity in the Canadian province of Quebec, as well as the export of power to portions of the Northeast United States. It was established by the Government of Quebec in 1944 from the expropriation of private firms. This was followed by massive investment in hydro-electric projects like the James Bay Project. Today, with 63 hydroelectric power stations, the combined output capacity is 37,370 megawatts. Extra power is exported from the province and Hydro-Québec supplies 10 per cent of New England's power requirements. Hydro-Québec is a Crown corporation (state-owned enterprise) based in Montreal. In 2018, it paid CAD$2.39 billion in dividends to its sole shareholder, the Government of Québec. Its residential power rates are among the lowest in North America. More than 40 percent of Canada’s water resources are in Québec and Hydro-Québec is the fourth largest hydropower produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caisse De Dépôt Et Placement Du Québec
Caisse de dépôt et placement du Québec (CDPQ; ) is an institutional investor that manages several public and parapublic pension plans and insurance programs in Quebec. CDPQ was founded in 1965 by an act of the National Assembly, under the government of Jean Lesage. It is the second-largest pension fund in Canada, after the Canada Pension Plan Investment Board. As of June 30, 2022, CDPQ managed assets of C$391 billion, invested in Canada and elsewhere. CDPQ is headquartered in Quebec City at the Price building and has its main business office in Montreal at Édifice Jacques-Parizeau. History The Caisse de dépôt et placement du Québec was established on July 15, 1965, by an Act of Québec's National Assembly to manage the funds of the Quebec Pension Plan, a public pension plan also created by the Québec government. In the years following, CDPQ was entrusted with managing the funds of other public pension and insurance plans: the Supplemental Pension Plan for Employees o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippe Couillard
Philippe Couillard (; born June 26, 1957) is a Canadian business advisor and former neurosurgeon, university professor and politician who served as 31st premier of Quebec from 2014 to 2018. Between 2003 and 2008, he was Quebec's Minister of Health and Social Services in Jean Charest's Liberal government and was MNA for Mont-Royal until he resigned in 2008. In the 2014 election, Couillard moved to the riding of Roberval, where he resides. He was the leader of the Quebec Liberal Party from 2013 to 2018. He resigned as Liberal leader and MNA on October 4, 2018. Background and early life Couillard was born in Montreal, Quebec, the son of Canadian-born Joseph Alfred Jean Pierre Couillard de Lespinay and French-born Hélène Yvonne Pardé. He holds a medical degree and a certification in neurosurgery from the Université de Montréal. He was the head of the department of neurosurgery at Hôpital Saint-Luc from 1989 to 1992 and again at the Centre Hospitalier Universitaire de Sherb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Budget Act (Quebec)
The Government of Quebec adopted the Balanced Budget Act (BBA) in 1996. The BBA prohibits a budget deficit, other than in special circumstances. Background Quebec incurred little debt before the 1960s, but from 1958 it recorded deficits for 40 consecutive years. Accumulated debt reached more than $100 billion (over 40% of GDP) by 1998. (The debt of the province of Quebec is separate from the debt of the federal government of Canada.) Quebec's credit rating was downgraded by Moody's in 1993 and 1995 and, in 1996, there were fears of a further downgrade. The Balanced Budget Act (BBA) was adopted unanimously by Quebec's legislative assembly in 1996, and incoming Premier Lucien Bouchard said balanced budgets were a priority "to save future generations from debt and despair" and "to protect the government's ability to act". The budget balance mechanism Under the Balanced Budget Act (BBA), the government is prohibited from incurring a budget deficit, other than in the special circu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector Pension Investment Board
The Public Sector Pension Investment Board (PSP Investments) is a Canadian Crown corporation established by an act of Parliament in September 1999. PSP Investments is one of Canada's largest pension investment managers, with CAD $204.5 billion of net assets under management as at March 31, 2021. It invests funds for the pension plans of the Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police and the Reserve Force. More than 1000 professionals manage a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. PSP Investments' head office is located in Ottawa, Ontario, and its chief business office is located in Montreal, Quebec. It also has offices in New York City, London and Hong Kong. History PSP Investments was incorporated as a Crown corporation under the ''Public Sector Pension Investment Board Act'' in 1999. The investments will fund retirement be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Globe And Mail
''The Globe and Mail'' is a Canadian newspaper printed in five cities in western and central Canada. With a weekly readership of approximately 2 million in 2015, it is Canada's most widely read newspaper on weekdays and Saturdays, although it falls slightly behind the ''Toronto Star'' in overall weekly circulation because the ''Star'' publishes a Sunday edition, whereas the ''Globe'' does not. ''The Globe and Mail'' is regarded by some as Canada's " newspaper of record". ''The Globe and Mail''s predecessors, '' The Globe'' and ''The Mail and Empire'' were both established in the 19th century. The former was established in 1844, while the latter was established in 1895 through a merger of ''The Toronto Mail'' and the ''Toronto Empire''. In 1936, ''The Globe'' and ''The Mail and Empire'' merged to form ''The Globe and Mail''. The newspaper was acquired by FP Publications in 1965, who later sold the paper to the Thomson Corporation in 1980. In 2001, the paper merged with broadcast ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Quebec
The economy of Quebec is diversified and post-industrial with an average potential for growth. Manufacturing and service sectors dominate the economy. If Quebec were a country, its economy would be ranked the 33rd largest in the world just behind Norway. Quebec is also ranked the 21st largest in the Organisation for Economic Co-operation and Development. The economy of Quebec represents 19.65% of the total GDP of Canada. For the 2017-2018 period, Quebec's budget was C$103,7 billion. This budget planned to provide $3 billion more to the healthcare sector over 2 years. The economy of Quebec represents 20.36% of the total GDP of Canada. Like most industrialized countries, the economy of Quebec is based mainly on the services sector. Quebec's economy has traditionally been fuelled by abundant natural resources, a well-developed infrastructure, and average productivity. The provincial GDP in 2010 was C$319,348 billion, making Quebec the second largest economy in Canada. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Quebec
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed govern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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