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.