Where things stand
The Parti Québécois (PQ) won the October 5, 2026 election and will form a minority government. In practical terms, nothing changes today for your business: campaign commitments only become rules once the National Assembly adopts them, and a minority government has to reach agreements with other parties to get there. Here are the promises that touch SMEs, as they were presented during the campaign.
Taxation
- Corporate income tax cut from 11.5% to 9.5% over a four-year term, funded by abolishing the Fonds de développement économique (FDE, the Economic Development Fund).
- Elimination of the QST on used goods.
- Halving of the QST on gasoline for at least one year.
The tax cut was presented as a measure for SME competitiveness. Check its exact scope (general rate or SME rate) in the official texts once they are available.
Subsidies
- Abolition of the FDE.
- End of subsidies to foreign multinationals.
- Room to keep helping businesses hit by U.S. tariffs.
- Targeted interventions maintained for Quebec businesses and strategic sectors.
The commitments we found do not specify what abolishing the FDE means for each current program. That is a point to follow closely.
Regulatory relief
- A Secretariat for Government Efficiency and Regulatory Relief, attached to the Treasury Board, created within the first 100 days.
- Review of all regulations, programs, procedures and standards, with a permanent review mechanism.
- Less paperwork and reporting for businesses.
U.S. tariffs
- Targeted counter-tariffs rather than "dollar for dollar".
- One-time help for the hardest-hit sectors.
- A request that Ottawa redistribute to Quebec the money collected through counter-tariffs.
Buy Quebec and public procurement
- A target of 75% Quebec products in public institutions (food component).
- A voluntary "Qualité Québec" certification and a stronger preference for Quebec wood.
- Government IT projects split into smaller projects, with collaborative contracts and more Quebec businesses, plus an audit of all those projects.
Energy, regions and agriculture
- Hydro-Québec's current rate path maintained until 2029, with a larger role for the Régie de l'énergie.
- Simpler permits, a new forestry regime and 10% of mining royalties paid to mining communities.
- A $450 million plan over four years for agriculture, lighter administrative burden, support for the next generation of farmers and zero net loss of agricultural land.
Construction, innovation and labour
- QST refund on new builds up to $45,000, harmonized Building Code and certification of prefabricated buildings with permits in 30 days.
- An expert committee on artificial intelligence (with Mila, IVADO and Obvia), including its impact on businesses.
- Permanent residents lowered from 45,000 to 35,000 a year, with caps of 40,000 temporary workers and 50,000 international students.
What to do in the meantime
Keep your projects and current applications moving under today's rules: they apply until a law changes. Watch three things: what happens to the FDE and the programs it touches, the exact scope of the tax cut, and the timing of the first budget. Federal tax credits such as SR&ED come from Ottawa and do not depend on these commitments.
Taking stock of your programs
If you have a grant or tax credit application in preparation, a quick review shows which programs are available today. At Hubvention, we help you build the file. Book my diagnostic →