This briefing looks at the Quebec Budget 2014–15 and concludes that the Quebec government is on track to balance its books in 2015–16, thanks to tight controls on spending. However, the budget fails to address the structural fiscal problems that the province continues to face.
Quebec Budget June 2014
Quebec Budget June 2014
Provincial Economic Analysis
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- With the new budget, Quebec remains on track to balancing its books by 2015–16 as promised—but it will not be an easy task.
- Economic growth should be somewhat stronger in the short term, which will boost government revenues. But the revenue growth will not be enough on its own to restore fiscal balance.
- As it stands, the government faces a $4-billion shortfall that it must find some way to bridge—hence, the need for tight control of expenditures. Growth in program spending will be limited to 1.8 per cent this fiscal year and 0.7 per cent in 2015–16—a target that has never been met before.
- On the revenue side, there are no increases in personal or business taxes. But tobacco taxes will rise, and Quebecers will pay more for alcohol bought for home consumption.
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