Wednesday, October 28, 2009

Quebec Budget Deficit Raises Concerns

Photo: Finance Minister Raymond Bachand says Quebec's finances are under control. (CBC)

Return To Balanced Budget Won't Be Easy: Minister -- CBC

Quebec taxpayers should brace for some pain as the province heads deeper into deficit than originally expected, Finance Minister Raymond Bachand said Tuesday.

The provincial deficit will reach $4.7 billion by the end of the fiscal year — $749 million more than announced in the budget last March, Bachand said in an economic update presented to the national assembly.

He blamed a deeper than expected recession, which brought job losses.

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My Comment: The Finance Minister is making it very clear .... expect more taxes.

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