2023-11-07 00:24:04
This text is taken from Courrier de l’ économique. Click here to subscribe.
Finance Minister Eric Girard will present Quebec’s most recent economic update on Tuesday — which will allow the government to take stock of public finances and at the same time take the opportunity to make some announcements.
In recent weeks, Mr. Girard has given several clues to the major themes that will color the document. We can already expect funds for affordable housing, the fight once morest homelessness as well as adaptation to climate change, he suggested. Prime Minister François Legault, for his part, opened the door to targeted aid to support the most vulnerable in the face of inflation.
Possible help once morest inflation
EIt would likely take the form of targeted measures for the most deprived, who are most affected by the rise in the cost of living. “I know that Quebecers are currently suffering a lot from the increase in prices, and I will try to see how I can better help them,” said Premier Legault earlier this month.
Affordable housing
Lhe Legault government has reached an agreement with the federal government to release funds for affordable housing. Quebec will thus receive $900 million from Ottawa as part of the Fund to accelerate housing construction. The province should also take out its checkbook — and even match the federal bet, according to the political lieutenant for Quebec of the Trudeau government, Pablo Rodriguez: “Quebec is committed to doubling the funds. So, we are no longer talking regarding 900 million dollars, but 1.8 billion,” he indicated in mid-October. The Minister responsible for Housing, France-Élaine Duranceau, has not said a word regarding the details of the agreement until now.
Public finances
IIt will be necessary to monitor the economic forecasts, as well as the evolution of the budget balance. Will the return to balance take place a little later than expected due to the current economic gloom? When presenting the budget last spring, the government estimated that it would achieve this by 2027-2028 and provided that in the event of a “deterioration” in the economic situation, “recourse to the contingency provision integrated into the financial framework would avoid postponing the return to a balanced budget. It remains to be seen, therefore, how their projections will have evolved over the last few months.
The rest and details: Tuesday morning, at 10:30 a.m.
To watch on video
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