Plan Nord: Thinking big in Quebec

According to the Globe and Mail, Quebec Premier Jean Charest obviously believes in the dictum “make no little plans.”  His recently announced Plan Nord will spend billions of dollars to, among other things, promote the expansion of mineral mining in the northern reaches of the province.

The proposal involves $80-billion in public and private investment over the next 25 years, Mr. Charest said. In return, he said, it will generate an estimated $14-billion in revenue over the same period and contribute $162-billion to the province’s gross domestic product. . . .

The government projects it will take in $14-billion in tax revenue over 25 years as a result of northern development projects. It also estimates it will pull in $1.4-billion worth of mining royalties in the next five years, half from northern Quebec. The government also plans stakes in money-making ventures – such as mines – in the area.

Quite bold and quite risky.  In a few years we’ll find out if it turns out to be boon or boondoggle.  Bon chance, Jean!

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