Question Period Note: Main Estimates 2022–2023

Main Estimates 2022–2023

• Through its budget, Canada Economic Development for Quebec Regions supports Quebec businesses and communities by making strategic investments in the form of grants and contributions.
• Canada Economic Development for Quebec Regions is a key federal player in the Quebec entrepreneurial network through the projects it funds or through its role as a networker and integrator.
• Canada Economic Development for Quebec Regions is implementing its program and various ad hoc initiatives tailored to Quebec's regional realities with a budget of $586.2 million in 2022-2023.
• 534.9 million dollars, or 91.2% of the budget, will directly support Quebec businesses and communities in 2022–2023.

• The 2022–2023 Main Estimates include a detailed list of the resources CED needs during the coming fiscal year to deliver the programs for which it is responsible. This document identifies the spending authorities (votes) and the amounts to be included in subsequent appropriation bills that the government will ask Parliament to approve.
• The 2022–2023 Main Estimates total $586.2 million ($534.9 million in grants and contributions, $45.6 million in operating expenses and $5.7 million in statutory appropriations).

2020-2021
Operating expenditures: $40.5M
Grants and contributions: $255.6M
Contributions to employee benefit plans: $4.9M
Total: $301.0M

2021-2022
Operating expenditures: $41.1M
Grants and contributions: $320.4M
Contributions to employee benefit plans: $5.0M
Total: $366.5M

2022-2023
Operating expenditures: $45.6M
Grants and contributions: $534.9M
Contributions to employee benefit plans: $5.7M
Total: $586.2M

Difference between 22–23 and 21–22
Operating expenditures: $4.5M
Grants and contributions: $214.5M
Contributions to employee benefit plans: $0.7M
Total: $219.7M

*Totals may not add up due to rounding.

The 2022–2023 Main Estimates represent an increase of $219.7 million (59.95%) compared with the 2021–2022 Main Estimates, notably because of funding for ad hoc initiatives. The difference can be primarily attributed to a combination of the following items:

INCREASES
Major Festivals and Events Support Initiative: $75.0M
Tourism Relief Fund: $70.9M
Jobs and Growth Fund: $70.7M
Canada Community Revitalization Fund: $53.0M
Aerospace Regional Recovery Initiative: $36.8M
Launch of a national quantum strategy: $5.0M
Black Entrepreneurship Program: $3.1M
Transfers and various items: $0.9M
Total: $315.4M

DECREASES
Reinvestment of repayable contributions (revenue): ($46.7M)
Regional Air Transportation Initiative: ($44.5M)
Regional infrastructure development initiative: ($4.5M)
Total: ($95.7M)

VARIANCE
Total variance: $219.7M
*An incremental difference in the sum of the amounts may result from rounding.

These Main Estimates present the financial requirements for the 2022–2023 fiscal year. The Main Estimates 2022–2023 were prepared in accordance with Treasury Board Secretariat (TBS) directives.