Quebec's deficit estimate off by $624 million: auditor-general

Quebec auditor-general Michel Samson.

Quebec's interim auditor general believes the provincial government is being very optimistic if it thinks it can post a balanced budget within a few years.

Michel Samson issued a report this morning on an economic update brought down last November by Finance Minister Nicolas Marceau — suggesting, among other things, that its deficit estimate for the current year is off by $624 million dollars.

Marceau's forecast called for deficits this year and next, but a balanced budget in 2015-2016 — a target Samson says is not impossible, but certainly ambitious.

His comments come a day before Marceau delivers the 2014-15 budget, which is expected to include a deficit of $1.7 billion.

Samson notes that Marceau has ruled out tax hikes and that the finance minister has provided for increases of only two per cent in government spending in 2014-2015 and 2015-2016.

Tune into CJAD Thursday afternoon at 4 p.m. for complete coverage of the Quebec budget on the Aaron Rand Show, live from Quebec City.

Leave a comment:

showing all comments · Subscribe to comments
  1. Kat posted on 02/20/2014 03:04 PM
    The PQ gov promises a balanced budget? It doesn't matter what she says, the sepratists will follow her blindly. If you don't believe me we can do a white paper on that. (applause, applause applause)
showing all comments

Share this article: