Since the presentation of Eric Girard’s last budget on Tuesday, the deficit figure has continued to resonate across the province.
From 3 billion in November, the deficit climbed by around 8 billion to end at an imposing 11 billion. A scenario that risks repeating itself in Ottawa.
Yes, negotiations with the public sector were expensive, but weak economic growth played a big role in the size of the deficits, in addition to investments in health and education.
Rigor
So, when we think that Minister Chrystia Freeland is in the process of refining her budget, we can think that the size of the deficit risks also being greater than expected in Ottawa.
The deficits in Ottawa are not a surprise. Since Justin Trudeau has been in power, he has never written a budget in black ink.
However, at the dawn of an election which will arrive by the fall of 2025, it would be time for the Liberals to show that they are capable of demonstrating budgetary rigor. Unfortunately, the renewal of vows with the NDP at the start of the year tells us that Justin Trudeau will continue spending despite the deficits.
Pharmacare, even if it is not a comprehensive program at the moment, will cost several million dollars. If the program expands in the coming years, it will cost billions, as estimated by the Parliamentary Budget Officer.
Optimization?
In Quebec, the deficit of 11 billion is like an electric shock, a questioning of state spending is now inevitable. Plus, everyone realizes that we are less rich than we thought.
Could Justin Trudeau also have this concern for public finances by optimizing the federal administration? Probably not, but it could help him in anticipation of the next electoral meeting.
We have the right to dream. At least it’s still free.