Tuesday, October 27, 2009

Quebec's Deficit Higher Than Forecast

Quebec Finance Minister Raymond Bachand.
Photograph by: File, The Gazette

Quebec Deficit Projected To Rise To $4.7B -- CBC

Quebec is projecting a deficit of $4.7 billion this fiscal year, up from the $3.9 billion in last spring's budget.

Finance Minister Raymond Bachand said Quebec will have deficits totalling $13.2 billion over the next few years before the province posts a balanced budget in 2013-14.

Bachand told a news conference in Quebec City on Tuesday that the province must find $5.1 billion in new revenues by 2013.

Read more ....

Update #1: Quebec's deficit worse than expected -- CTV
Update #2: Quebec's deficit will rise to $4.7B -- Montreal Gazette

My Comment: In the height of a recession, Government is still growing. Instead of cutting back government and giving a break to the taxpayers of this province, they are looking at raising taxes. I cannot complain, the PQ antidote is even worse.

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