The day of reckoning is upon us. Later today, Premier Philippe Couillard is expected to unveil his government’s 2014-2015 budget for the province of Quebec. Finance Minister Carlos Leitao really drove home the necessity for a balanced Quebec budget, by showing journalists his shoes. In something that you would find in a flowery creative arts program, Leitao remarked his shoes “reflects the recovery of the economy.” Actually.
But wait, there’s more! He is keeping his old pair of shoes, because “they have served me well, especially on the election campaign. They are very comfortable.” What does this have to do with the turbulent state of Quebec’s finances? I don’t know.
Seriously, it has nothing to do with Quebec’s budget. The Montreal Gazette doesn’t care, and goes on to describe the Minister’s “size 10 1/2, Iowa Hudson walking shoes, imported from Germany.”
If this is any indication of what we can expect today, it doesn’t look pretty.
The interim auditor general, Michel Samson has called out the former PQ government of skewing numbers, and has projected Quebec’s deficit may be $3.9 billion higher than originally thought.
Eh. A $5.5 billion or a $1.75 billion deficit. Same difference. Spending growth under the PQ reached 6.7%, a far cry from the 2% promised. Again…numbers are just numbers. Don’t worry about it.
So, what does this mean for the budget? Not a damn thing. What sort of budgetary details has the government provided? Not a single. Expect cuts. Leave the rest to Couillard.
Trust him. He’s a doctor.