Quebec's $600 inflation pay-out: here's how it will work this time

Quebec Finance Minister Eric Girard announced Wednesday that most Quebecers will receive between $400 and $600. (Jacques Boissinot/The Canadian Press - image credit)
Quebec Finance Minister Eric Girard announced Wednesday that most Quebecers will receive between $400 and $600. (Jacques Boissinot/The Canadian Press - image credit)

For the second time, millions of Quebecers will be getting extra cash in their pockets courtesy of the province, just in time for the holidays.

Quebec Finance Minister Eric Girard announced Wednesday that Quebecers who made up to $50,000 a year in 2021 will receive $600. Those who earned more than $50,000 but less than $104,000 will receive about $400.

Girard said the payments will be deposited automatically, as before, to an estimated 6.5 million Quebecers. The money will appear in Quebecers' accounts starting at the end of the month. In total, the payout will cost the province around $3.5 billion.

Quebecers should not respond to messages purporting to be from Revenue Quebec, Girard said, as the government will not need personal information to make the deposit.

This follows a first payout earlier this year, when the Coalition Avenir Québec (CAQ) government gave $500 to every Quebecer who filed a tax return and who made less than $100,000, saying it would help offset inflation and the rising cost of living. It's estimated to have cost the province about $3.2 billion in total.

During the province's recent election campaign, Premier François Legault had promised a second cash transfer before the end of the year.

Girard said he doesn't expect Quebec to make a third payment, because he expects inflation to stop rising as economic growth slows. He said there is a 50 per cent chance Quebec's economy will be in recession in 2023.

Further measures — such as caps on Hydro rate increases — are expected to be included in Quebec's upcoming economic update, scheduled for Dec. 8.