New federal-provincial agreement on the Fund Gas Tax – The Governments of Canada and Quebec ratify an agreement that provides $ 1 billion for 10 years in Quebec to support projects transit

QUEBEC CITY, June 25, 2014 / CNW Telbec / – The Minister of Transport and Minister responsible for the Montreal region, Robert Poëti, welcomes the ratification today by the governments of Canada and Quebec, the new Fund agreement of the gas tax. This administrative agreement, which covers the period from 1 st April 2014 to 1 st April 2024, defines the roles and responsibilities of the parties relating to the administration of the Fund tax on gasoline.

As announced today, the Government of Quebec will have $ 500 million per year to support infrastructure projects, including a minimum of $ 100 million for capital projects in public transportation.

Among the projects eligible municipal transport under the agreement, there are projects of transit and local roads, plus projects involving roads.

“This agreement confirms the sustainability of financing development projects in municipal transportation in Quebec over the next 10 years. Several administrations of transport, including transport companies, it is a clear signal that they will be supported by stable funding in their municipal investment projects to improve infrastructure in the next decade. All for the benefit of citizens, “said Minister Poëti.

Recall that the Fund gas tax is one of the sources of funding for the Company to finance local infrastructure Quebec (SOFIL) through which the Quebec government invests heavily each year in infrastructure projects of municipalities and transit agencies.

“At a time when we need to combine the challenge of fiscal consolidation and the multiple needs for investment in municipal transport infrastructure funding secured for the next 10 years is great news for all” concluded the Minister of Transport.

source: http://www.fil-information.gouv.qc.ca/