Despite “an exceptional performance” of the economy in 2021, it will be necessary to wait another five years before returning to a balanced budget, indicated Minister Eric Girard, on the eve of the tabling of his last budget before the elections.
“The economy performed very well in 2021,” repeated the Minister of Finance, playing the game of the traditional shoe ceremony, one day before the presentation of the 2022-2023 budget.
Once again this year, the minister chose a new pair of running shoes, “performance shoes”, he pointed out, putting them on in front of the cameras.
Stevens LeBlanc/JOURNAL DE QUEBEC
Mr. Girard took the opportunity to announce good news: the structural deficit – i.e. the negative balance that will remain after the pandemic – in Quebec, which amounted to more than $6 billion a year ago, “has melted half” to end up “below the $3 billion mark”, he reported.
A “prudent” budget
But in the current context of uncertainty, there is no question of advancing the return to balanced budgets, hoped for by 2027-2028.
“No, because the goal is for the return to a balanced budget to take place with as little effort as possible. That is to say that the transition is as smooth as possible, so we keep the 2027-2028 objective,” explained Minister Girard.
“It is possible that we will reach equilibrium a year before, two years before,” he said. But we still have a high degree of uncertainty: there is the pandemic, there is the invasion of Ukraine by Russia… So we have a prudent financial framework. »
Stevens LeBlanc/JOURNAL DE QUEBEC
It now remains to be seen, tomorrow, how the government will go about offsetting galloping inflation as promised by Prime Minister François Legault. Will the wealthiest also be entitled to a check?
At the beginning of the year, 3.3 million Quebecers received assistance of $200 to $275 to counter the “surprise” increase in the cost of living. It was a “targeted measure,” said Mr. Girard. “And there, we are looking to make a measure of more general application,” hinted at the Minister of Finance, refusing to confirm whether all taxpayers will receive a check.