Quebec's new finance minister says Ottawa's business tax deduction is his biggest headache

"What gives me headaches is Ottawa's 'mega-deduction', which represents considerable sums," Nicolas Marceau said on Wednesday.

— Nicolas Marceau, Quebec finance minister

Hit to Quebec revenue

1 $ billion

The federal deduction would cost Quebec about $1 billion in revenue, an unforeseen constraint, Marceau said.

Background

Prime Minister Mark Carney announced the deduction in September, raising the share of eligible assets in business investments from 15 to 65 per cent.