Kent Nagano, the MSO's musical director, says the funding will assure the symphony's long-term survival. (CBC)

The Quebec government has announced a dedicated fund for the Montreal Symphony Orchestra (MSO) totalling $35.5 million over four years.

The money will come from Loto-Québec, making the government's gaming agency the MSO's largest public funder.

Finance Minister Raymond Bachand, who is also the minister responsible for the Montreal area, said the money will help preserve the MSO's status as a world-class orchestra.

"The Montreal Symphony Orchestra is a jewel of Montreal and Quebec culture," said Bachand.

The MSO, which has been in financial trouble for the past few years, will receive $10 million for the current fiscal year and $8.5 million annually for the next three years from the lottery agency.

Lucien Bouchard, former Quebec premier and now chairman of the MSO's board of directors, said he breathed a sigh of relief at the news of the additional money.

"We don't want to run deficits," said Bouchard. "We've been able to avoid it for the last 15 years, but it was becoming more difficult."

'The Montreal Symphony Orchestra is a jewel of Montreal and Quebec culture.'—Raymond Bachand, Quebec finance minister

Under order from Quebec's Culture Ministry, the MSO is not allowed to run a deficit, which Bouchard said became very difficult to do when the global financial crisis hit.

Kent Nagano, the MSO's charismatic and popular musical director, said without financial assistance, the orchestra's long-term survival would be in jeopardy.

"Just as in any other form — a school, a hospital — there comes a point where if you continue to cut back, it affects the quality of what's being presented," said Nagano.

Nagano said the funding from Loto-Québec will assure the orchestra can keep its 90 musicians and not sacrifice the quality of the music.

Tuesday's announcement means the Quebec government will be able to put the $7.1 million it was investing in the MSO toward other cultural organizations, such as l'Opéra de Montréal, Quebec's chamber orchestras and other symphony orchestras.

Nagano was also asked by reporters whether the additional funding will encourage the maestro to extend his contract with the MSO beyond 2011.

A smiling Nagano said he would give an update on that question at a later date and walked away.