This is the english version, always less critical than the French reporting. If you dig deeper you will see that the new progressive FLQ government of Quebec has simply borrowed the old Liberal plan, stripped away money and committed a tiny fraction (only 10%) of the inital funding plan. As expected the FLQ was over whelming in representation (4 big guns and the premier) and under whelming in information. No questions were taken at the end of the informational session, very transparent - remind you of anyone we know?
Let's hope this kind of performance will get the over subsidized, over educated, under employed, transfer payment funded, National soverignists off their lazy behinds and protesting in the streets.
What is important to note is the radical scaling back of private investment by reputable corporations, the proof is in the pudding as they say, great job Ms. Marois.
Looks like no impact (yet) on our non-producing gold company as they didn't release any information on how they would pay (read royalty hikes) for their goodwill towards their Northern Quebec small population big representation votes, especially now that the private sector has pulled out and their millions in tax contributions cannot be counted. For more on my unfounded assertions read the folowing:
ANYWAY ON TO THE GONG SHOW.
Montreal – Premier Pauline Marois has outlined more details about her minority government’s economic vision for Quebec’s north, earmarking $868-million to develop the vast territory over the next five years.
The bulk of the money will go infrastructure, the premier said during a stop in the mining town of Chibougamau Tuesday.
Investors have largely been in the dark about the government’s plans for Quebec’s north since Ms. Marois’s Parti Québécois party defeated Jean Charest’s Liberals last fall. Ms. Marois was keen to replace Mr. Charest’s ambitious Plan Nord project with her own vision for the territory but until today, she had provided few details of her intentions.
Ms. Marois said the government would launch a new northern development fund with an initial budget of $868-million. Money from the fund will be used for roads, social housing, national parks and “multifunctional” training centres, the government said.
Only one project was specified. Quebec will build 226 social housing units in Nunavik by 2016 at a cost of $61-million. The government has created a northern development secretariat to oversee its investments and coordinate development in the region.
Two major infrastructure projects for Quebec’s north have recently been put on ice because of weakness in global markets for iron ore.
Natural gas distributor Gaz Métro in March postponed plans to extend gas pipelines to the north, saying that it failed to reach a minimum level of volume demand from the industrial customers that would have used the largest of those, a 450-kilometre natural gas pipeline extension to Baie-Comeau, Port-Cartier and Sept-Iles.
Canadian National Railway Co. has also suspended preliminary planning work on an estimated $5-billion railway line to serve northern communities because of increased uncertainty on the timing of certain iron ore mining projects.
Before it fizzled out when Mr. Charest lost the election, his Plan Nord had generated $6-billion worth of private investment, according to government figures. Companies active in the region include ArceloMittal SA, the world’s biggest steelmaker, and Stornoway Diamond Corp., which is readying Quebec’s largest diamond mine.
Read more: http://www.ottawacitizen.com/business/fp/sketches+investment+plan+Quebec+north+commits+million/8349576/story.html#ixzz2SdQVPSRQ