With fears of a recession on the horizon, Economy and Energy Minister Pierre Fitzgibbon is “staying on the lookout” and opening the door to help for small businesses (SMEs), if needed. However, their electricity rates will increase by 6.5% on Saturday, as planned.
Rates for Hydro-Québec business customers will increase by 6.5% on Saturday to take inflation into account. The increase is criticized by the Canadian Federation of Independent Business (CFIB), which is calling on the government to cap the indexation of electricity rates at 3% for SMEs and households.
Electricity would only be one lever among many others on which the government can intervene, replies Mr. Fitzgibbon, on the sidelines of an announcement in Montreal on Friday. “You have to look at the whole work. »
The minister says he remains “on alert” amid economic uncertainty. “Recession or not, we’re not sure yet. You have to be awake. I watch the borrowing rate a lot. I look at SMEs that are having difficulties. There are no programs yet that we want to announce, but we are aware, we are on the lookout. »
The Minister does not believe that electricity tariffs are the best way to intervene. “Electricity rates: I don’t think we’re going to go there. Honestly, we still have the lowest rates in Canada. On the other hand, there are other mechanisms that can be put in place, if necessary. »
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