Quebecers planning to renovate their kitchens, bathrooms or other parts of their home may get some help from the Quebec government this year as part of the Charest government's new economic plan.

During the second day of a two-day special sitting of the national assembly on Wednesday, Finance Minister Monique Jérôme-Forget announced a new tax credit for home renovations.

'It is well known that spending on renovation and home improvement has a significant multiplier effect on the economy.'—Monique Jérôme-Forget, Quebec finance minister

The tax credit was one of several measures the government unveiled as part of its plan to help stimulate the Quebec economy. Other measures included new government-backed loan guarantees for businesses and an acceleration of infrastructure projects.

Jérôme-Forget said the tax credit for home renovations would protect thousands of jobs in Montreal's job-heavy manufacturing and construction sectors as the world economy cools.

"The fundamental [point] is that we want people to keep their jobs," she told reporters.

She said the tax credit, which will be included in the Liberal's spring budget, would pay for 20 per cent of renovation expenses up to a maximum of $2,500.

Quebec Finance Minister Monique Jrme-Forget announces the economic plan on Wednesday in Quebec City. (CBC) Homeowners with single-family dwellings, duplexes, triplexes, mobile homes and condominiums would be eligible, provided they live in the building.

Interested homeowners would have to use qualified contractors and have a total project budget of more than $7,500.

The credit would be available for one year, retroactive to Jan. 1, 2009.

The government plans to budget $250-million for the measure, with an average reimbursement of $1,400.

Jérôme-Forget hopes the measure would not only protect but stimulate new jobs in the construction industry.

"It is well known that spending on renovation and home improvement has a significant multiplier effect on the economy," said Jérôme-Forget. "In addition to contributing to Quebec's economy, this measure will enable Quebecers to improve their homes."

She estimates the tax credit alone could maintain 25,000 existing jobs and create up to 2,000 new ones in the province this year.

Opposition parties say Liberals need better ideas

The Liberal party promised a tax credit on home renovations during the recent provincial election campaign.

The opposition parties described the government's economic plan announced Wednesday as too little, too late.

"It is worse than what we had imagined," said Parti Québécois Leader Pauline Marois.

She said the government advanced no new ideas in the economic plan.

Marois has argued that the province should use the Caisse de dépôt et placement du Québec, the province's public pension fund manager, to create a $10-billion fund to invest exclusively in Quebec-based firms.

Action Démocratique leader Mario Dumont said middle-class workers are being left out of the Liberal's economic plan. However, he said he supported the renovation tax credit.

The government will present its first budget of 2009 in March.