PQ says Quebec's finances in worse shape than they thought

Posted By: Canadian Press · 10/5/2012 2:22:00 PM

MONTREAL - Surprise, surprise, the new Quebec government is saying the province's finances are in worse shape than it expected before taking office.

Finance Minister Nicolas Marceau says government spending estimates are several hundred million dollars more than announced by the recently defeated Liberal government.

Yet Marceau says the new government will still meet its objective for a $1.5-billion deficit in the current fiscal year and a balanced
budget in 2013-14.

Marceau told a news conference in Montreal today that economic growth this year will not be as strong as expected.

He also says consumption has slipped in the province and that Quebec exports are not at the level they should be.

Photo: via PQ

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  1. Anthony posted on 10/05/2012 03:19 PM
    First, I really doubt the Canadian Press starts their articles with : Surprise, Surprise..

    I believe someone who calls himself a journalist (even though Journalists can't be biased) at CJAD added those (close to being PQ/Quebec/French-bashing) words once again. The hate you foster here on this website and on air are probably the only reason you still have a following and an audience. I hope the path you guys are on is paying off in some way, because fostering hate and violence must be a heavy burden.
  2. Mike D posted on 10/05/2012 03:31 PM
    Economic growth will not be as strong this year. Wonder if student demonstrations or threat of PQ government has anything to do with it??? :-)
  3. zak posted on 10/05/2012 05:21 PM
    transfer payments from the west should clear up the deficit
  4. Rudolph S posted on 10/07/2012 01:47 PM
    what else is new..every newly elected government sings the same song... we did not know how much in S..... our predecessors left us. This adage will be used to foreshadow new and higher taxes.
    In a a study , the C.D. Howe Institute said taxpayers faced with the threat of higher levies would likely take steps to lower their taxable income.
    "proposed increases in taxes would create much less new tax receipts than the government expects," according to Alexandre Laurin, Associate Director of Research at the CD Howe institute.
    He said Quebec should not expect federal government transfers to make up for any shortfall in provincial tax revenues.
    "Over the long term, declining economic activity and investment would lead to the relative impoverishment of Quebec society," said Laurin.

    funny that Marceau told a news conference in Montreal already that economic growth this year will not be as strong as expected.

    to all the red square twitts who voted for the separatist because they promissed them a lot of money...YOU. will have a rude awakening...
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