Exhibit 99.15
Excerpts from « Budget – Budget Speech 2015-2016 », March 26, 2015
Québec government
Summary of consolidated budgetary transactions
Preliminary results for 2014-2015
| | | | |
(millions of dollars) | | | |
| | | 2014-2015 | |
| |
CONSOLIDATED REVENUE | | | | |
| |
Own-source revenue | | | 77 293 | |
| |
Federal transfers | | | 18 720 | |
| |
Total | | | 96 013 | |
| |
CONSOLIDATED EXPENDITURE | | | | |
| |
Expenditure | | | –86 777 | |
| |
Debt service | | | –10 333 | |
| |
Total | | | –97 110 | |
| |
DEFICIT | | | –1 097 | |
| |
Deposits of dedicated revenues in the Generations Fund | | | –1 253 | |
| |
BUDGETARY BALANCE (1) | | | –2 350 | |
| (1) | Budgetary balance within the meaning of the Balanced Budget Act. |
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Québec government
Summary of consolidated budgetary transactions
Forecasts for 2015-2016
| | | | |
(millions of dollars) | | | |
| | | 2015-2016 | |
| |
CONSOLIDATED REVENUE | | | | |
| |
Own-source revenue | | | 80 716 | |
| |
Federal transfers | | | 19 444 | |
| |
Total | | | 100 160 | |
| |
CONSOLIDATED EXPENDITURE | | | | |
| |
Expenditure | | | –88 091 | |
| |
Debt service | | | –10 483 | |
| |
Total | | | –98 574 | |
| |
SURPLUS | | | 1 586 | |
| |
Deposits of dedicated revenues in the Generations Fund | | | –1 586 | |
| |
BUDGETARY BALANCE(1) | | | — | |
| (1) | Budgetary balance within the meaning of the Balanced Budget Act. |
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Québec government
Consolidated revenue
Forecasts for 2015-2016
| | | | |
(millions of dollars) | | | |
| | | 2015-2016 | |
| |
OWN-SOURCE REVENUE | | | | |
| |
Income and property taxes | | | | |
| |
Personal income tax | | | 28 218 | |
| |
Contributions for health services | | | 6 571 | |
| |
Corporate taxes | | | 6 447 | |
| |
School property tax | | | 2 030 | |
| |
| | | 43 266 | |
| |
Consumption taxes | | | | |
| |
Sales tax | | | 14 556 | |
| |
Fuel | | | 2 425 | |
| |
Tobacco products | | | 1 093 | |
| |
Alcoholic beverages | | | 527 | |
| |
| | | 18 601 | |
| |
Revenue from government enterprises | | | | |
| |
Hydro-Québec | | | 2 750 | |
| |
Loto-Québec | | | 1 130 | |
| |
Société des alcools du Québec | | | 1 040 | |
| |
Other | | | 42 | |
| |
Hydro-Québec revenue allocated to the Generations Fund | | | –105 | |
| |
| | | 4 857 | |
| |
Duties and permits | | | 2 755 | |
| |
Miscellaneous revenue | | | 9 651 | |
| |
Generations Fund revenue | | | 1 586 | |
| |
TOTAL OWN-SOURCE REVENUE | | | 80 716 | |
| |
FEDERAL TRANSFERS | | | | |
| |
Equalization | | | 9 521 | |
| |
Health transfers | | | 5 599 | |
| |
Transfers for post-secondary education and other social programs | | | 1 609 | |
| |
Other programs | | | 2 715 | |
| |
TOTAL FEDERAL TRANSFERS | | | 19 444 | |
| |
TOTAL CONSOLIDATED REVENUE | | | 100 160 | |
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Québec government
Consolidated expenditure
Forecasts for 2015-2016
| | | | |
(millions of dollars) | | | |
| | | 2015-2016 | |
| |
Expenditure excluding debt service | | | | |
| |
Program spending of the general fund(1) | | | 66 460 | |
| |
Other consolidated expenditures(2) | | | 21 631 | |
| |
Total | | | 88 091 | |
| |
Debt service | | | | |
| |
General fund | | | 8 331 | |
| |
Other budgetary sectors(2) | | | 2 152 | |
| |
Total | | | 10 483 | |
| |
CONSOLIDATED EXPENDITURE | | | 98 574 | |
| (1) | Program spending of the general fund includes transfers intended for consolidated entities. |
| (2) | Includes, in particular, consolidation adjustments. |
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Québec government
General fund expenditure
Forecasts for 2015-2016
| | | | |
(millions of dollars) | | | |
| | | 2015-2016 | |
| |
PROGRAM SPENDING OF THE GENERAL FUND | | | | |
| |
Assemblée nationale | | | 128.3 | |
| |
Persons appointed by the National Assembly | | | 90.8 | |
| |
Affaires municipales et Occupation du territoire | | | 1 743.3 | |
| |
Agriculture, Pêcheries et Alimentation | | | 881.7 | |
| |
Conseil du trésor et Administration gouvernementale | | | 1 209.7 | |
| |
Conseil exécutif | | | 404.7 | |
| |
Culture et Communications | | | 670.5 | |
| |
Développement durable, Environnement et Lutte contre les changements climatiques | | | 148.5 | |
| |
Économie, Innovation et Exportations | | | 590.0 | |
| |
Éducation, Enseignement supérieur et Recherche | | | 16 926.6 | |
| |
Énergie et Ressources naturelles | | | 75.0 | |
| |
Famille | | | 2 516.8 | |
| |
Finances (excluding debt service) | | | 146.9 | |
| |
Forêts, Faune et Parcs | | | 449.8 | |
| |
Immigration, Diversité et Inclusion | | | 283.9 | |
| |
Justice | | | 873.9 | |
| |
Relations internationales et Francophonie | | | 94.7 | |
| |
Santé et Services sociaux | | | 32 850.7 | |
| |
Sécurité publique | | | 1 326.1 | |
| |
Tourisme | | | 123.5 | |
| |
Transports | | | 656.2 | |
| |
Travail, Emploi et Solidarité sociale | | | 4 268.4 | |
| |
Total | | | 66 460.0 | |
| |
DEBT SERVICE OF THE GENERAL FUND | | | 8 330.7 | |
| |
TOTAL EXPENDITURE OF THE GENERAL FUND | | | 74 790.7 | |
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Québec government
Non-budgetary transactions
Forecasts for 2015-2016
| | | | |
(millions of dollars) | | | |
| |
| | | 2015-2016 | |
| |
INVESTMENTS, LOANS AND ADVANCES | | | –1 845 | |
| |
CAPITAL EXPENDITURES | | | | |
| |
Investments | | | –7 899 | |
| |
Amortization | | | 3 713 | |
| |
Less: PPP investments | | | 443 | |
| |
Total | | | –3 743 | |
| |
RETIREMENT PLANS AND EMPLOYEE FUTURE BENEFITS | | | 3 418 | |
| |
OTHER ACCOUNTS | | | 270 | |
| |
TOTAL FINANCING TRANSACTIONS | | | –1 900 | |
Note: A negative entry indicates a financial requirement and a positive entry, a source of financing.
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