“A demanding and responsible budget.”
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This is how the Minister of Finance described his budget on Tuesday.
We already know that this will be a budget that is highly in the red.
Public sector negotiations have cost much more than expected, the economy is stagnating due to efforts to tame inflation.
More spending, less revenue and this obligation to return to a balanced budget within six years. You’ll have to find the money somewhere.
However, there will be no austerity in the budget, promises Eric Girard.
We can say that Prime Minister François Legault imposes the squaring of the circle on him.
Photo Agence QMI, JOEL LEMAY
The I-word
Because there are not 56 ways to balance a budget. We must reduce expenses or increase income.
However, the promise to prioritize health and education leaves little room for the government to eat into the fat. Moreover, it is hard to imagine cutting into the Family, in daycares, or at Immigration, in Frenchization.
We can slow down spending in other ministries, it’s marginal.
On the revenue side, there is one thing that the government wants to avoid: an increase in taxes.
This is all that remains of the CAQ’s trademark, “putting money back into the pockets of Quebecers”. It’s hard to imagine him going there.
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It must therefore create wealth and accelerate economic growth.
This is the challenge of the battery sector. But attracting foreign companies with billions has its limits.
The real challenge is to give local companies the means to become world leaders.
That too is expensive.
This is the real test of this budget. Demonstrate that purchasing flexibility in the public sector has not deprived the government of the means to invest long term in our collective growth.