- The survey highlights that 72% of respondents are worried about the current economic situation, with 37% expressing fear of job loss for themselves or those around them.
Government Focus on Small and Medium-sized Businesses (SMEs):
- A significant majority (79%) believes that the government should prioritize small and medium-sized businesses in its economic policy. Additionally, 62% advocate for favoring SMEs over large companies for economic recovery.
Public Funds and Subsidies:
- The survey indicates that 72% of Quebecers oppose the use of public funds to grant large subsidies to large businesses. A similar sentiment is shared by 66% of SME managers.
Tax Environment for SMEs:
- The tax environment for SMEs in Quebec is perceived as disadvantageous, with payroll taxes 30% higher than the Canadian average. The survey reveals that eight provinces have a reduced tax rate for small businesses lower than in Quebec. Quebec is also the only province blocking access to the reduced tax rate for small businesses in certain sectors, imposing a higher tax rate of 259%.
Support for Tax Reductions for SMEs:
- A noteworthy 71% of Quebecers believe that SMEs, irrespective of their sector, should have access to a lower tax rate on profits compared to large companies.
Campaign for Tax Reductions:
- The CFIB has been campaigning for the abolition of large taxes for years, and this stance is gaining support among the population.
Predictions:
- The survey results indicate a growing demand for government policies that support and prioritize SMEs in Quebec’s economic recovery strategies.
- There may be an increased focus on revising tax structures, particularly reducing payroll taxes, to make the business environment more favorable for SMEs.
- The sentiments expressed in the survey may influence future budgetary measures to align with the preferences of Quebecers.
FAQ: Q: What was the sample size and methodology of the survey? A: The Léger Web survey included 1,001 Quebecers who could speak French or English, with data collected from January 19 to 22, 2024.
Q: What is the CFIB’s stance on economic policies? A: The CFIB has been advocating for the abolition of large taxes, with a specific emphasis on reducing the tax burden on small and medium-sized businesses.
Q: How does Quebec’s tax environment for SMEs compare to other provinces? A: The survey highlights that payroll taxes in Quebec are 30% higher than the Canadian average, and eight provinces have a reduced tax rate for small businesses lower than in Quebec.
Q: What sectors face a higher tax rate for SMEs in Quebec? A: The survey notes that Quebec is the only province blocking access to the reduced tax rate for small businesses in the construction and services sectors, imposing a higher tax rate of 259%.
