Quebec 2026-27 Budget Overview
A Budget Approach Focused on Resilience
The 2026–2027 budget is presented in a context of persistent economic and geopolitical uncertainty, marked by trade tensions, protectionism, rising cost of living, and technological transformation. The government states that it aims to reconcile four objectives: support the economy, strengthen public services, protect purchasing power, and maintain responsible management of public finances.
The fiscal framework includes nearly $9.6 billion in new measures over a five-year horizon, as well as an increase of more than $5 billion in infrastructure investments over six years.
Toward a resilient economy in a context of economic and geopolitical uncertainty. Real GDP growth is expected to reach 1.1% in 2026 before accelerating to 1.4% in 2027.
According to forecasts from Quebec’s Ministry of Finance, government revenues for fiscal year 2025–2026 are expected to reach $160.5 billion, with an additional $10.3 billion allocated to debt servicing. This represents an increase of 2.8% compared to the previous year. For fiscal year 2026–2027, revenues are expected to reach $166.5 billion, representing growth of 3.7% compared to 2025–2026.
Growth Planning
- Government expenditures in 2025–2026 and their growth:
Total government expenditures for fiscal year 2025–2026 are estimated at $168.3 billion. - Expenditure growth in 2026–2027:
For fiscal year 2026–2027, expenditures are expected to reach $170.8 billion, representing growth of 1.5% compared to 2025–2026. - Contributions to the Generations Fund in 2025–2026 and 2026–2027:
Revenues allocated to the Generations Fund are expected to reach approximately $2.3 billion in 2026–2027.
As of March 31, 2026, the Government of Quebec’s net debt is estimated at $250.3 billion, corresponding to 38.8% of GDP. - Infrastructure investments under the Quebec Infrastructure Plan 2026–2036:
The Quebec Infrastructure Plan provides for total investments of $167 billion over 10 years, of which 71% is dedicated to maintaining existing assets. - Nominal GDP and economic growth:
Real GDP growth is expected to reach 1.1% in 2026 and 1.4% in 2027, following growth of 0.8% in 2025.
Detailed Measures to Support Businesses (Budget 2026–2027)
Acceleration of economic transformation: $1.7B over 5 years
Support for business adaptation: $693.1M
The government is establishing funding to help businesses address:
- International trade tensions
- Technological transformation
- Increased competition
Measure details:
- $410.1M to support investment projects
- $283.0M to improve competitiveness through innovation
- $73.3 million to support the growth of innovative industries and the adoption of advanced technologies, including:
- $45.8 million over four years to continue the development of innovation zones in Quebec
- $24.5 million over three years to promote the adoption of AI and quantum technologies
- $3 million over five years to establish a joint research unit in quantum photonics
Target sectors:
- Artificial intelligence
- Information technology
- Cybersecurity
- Life sciences
- Quantum technologies
- Support for high-potential investments: $375M
- Financing for large-scale projects
- Support for high-growth businesses
- Attraction of private investment
Objective: increase overall productivity
Business environment and project acceleration: $35.1M
- Strategic funds
Critical and strategic minerals
The budget establishes the Critical and Strategic Minerals Fund (CSMF), with a capitalization of $2.5 billion, including $1.0 billion in new funding, to secure supply chains, promote value-added processing in Quebec, and strengthen Quebec’s position in global critical mineral value chains.
The government will soon announce the creation of a fifth innovation zone the Mining Innovation Zone to be established in Rouyn-Noranda, in Abitibi-Témiscamingue. This initiative aims to consolidate and enhance Quebec’s expertise in mining innovation.
Two main research and development priorities will be advanced:
The autonomous mine, focusing in particular on data management and utilization, as well as the development of artificial intelligence and connected equipment.
The sustainable mine, which seeks to better align mining activities with their host environment by promoting responsible resource extraction, site restoration, and the social acceptability of projects.
- Securing supply chains
- Local processing
- Maintaining head offices
- Business Growth Fund increased to $2.0B
- Support for business transfers
- Protection of Quebec ownership
Indigenous participation: $500M to promote involvement in economic projects
Support for SMEs and regions: $581.3M
Regional economic development: $216.2M
Innovation and technology adoption: $283M
Innovation chain: $187.7M
Technology adoption: $73.3M
Construction: $22M
- Taxation and private investment
- Tax assistance programs maintained and enhanced
- CRIC (R&D and pre-commercialization)
- DICI (intellectual property income at 2%)
- Private investment
- Nearly $60B in supported investments by 2029
- Tax relief $2.7B by 2029–2030 (accelerated depreciation)
Specific Measures Cybersecurity and Digital
- Structuring public investments
- Information resources
- $6.7B in 2026–2027, up 4.6% from the previous year
- Modernization of public systems
- Secure digital infrastructure
- $42.4 million over four years to strengthen digital sovereignty through increased sharing and pooling of digital solutions
- PQI Vision (long term)
- $822.1M in cybersecurity and digital over 10 years (PQI-IT)
Long-term allocation:
- 82% maintenance
- 18% enhancement
- Cybersecurity and Digital Fund (CDF)
2026–2027 amounts:
- $719.4M in expenditures
- $133.1M in investments
Specific projects:
- Securing government systems
- Digital transformation of public services
- Platform consolidation
Allocation:
- 80.5% expenditures (operations, system maintenance, cybersecurity)
- 19.5% investments (new digital projects)
Use:
- Protection of government digital infrastructure
- Deployment of cybersecurity solutions
- Improved system resilience
- Cybersecurity integrated into public safety
The budget includes cybersecurity within a:
- $1.1B envelope for security and justice
Includes:
- Cybersecurity operations
- Prevention and response
- Protection against cyber threats
Key signal:
Cybersecurity is now treated as:
- A national security issue, not only a technological one
Concrete action areas:
- Modernization of public systems
- Replacement of obsolete systems
- Migration to modern architectures
- Improved performance of digital services
Specific Measures Agriculture and Agri-food
- Development of the agri-food sector $97.4M
- Modernization of agricultural businesses
- Food processing
- Process innovation
- Direct support to agricultural businesses
- Contribution holiday to the Health Services Fund in 2026 and 2027 for: Agriculture, Forestry and Fisheries