Fraser Institute: “Bold Action on Debt and Taxes Needed” in Quebec
According to the Fraser Institute:
“Whether it’s economic growth, job creation, the unemployment rate, or investment growth, Quebec has generally lagged other Canadian provinces and even American States. There are many reasons for the province’s relatively weak performance but shaky government finances in the form of high debt levels and an uncompetitive tax system are among the most important.”
See the whole study by Charles Lammam, Milagros Palacios, Hugh MacIntyre, and Feixue Ren here on the Fraser Institute website (l’étude est également disponible en français ici).
Quebec’s debt ratio puts it in first place among the Canadian provinces and territories as illustrated by Finance Québec here.
One of the most remarkable and troubling fact is that Quebec’s debt kept and keep growing even when the economic climate is strong… If interest rates were ever to raise, this may end badly…
While we are at it, don’t bet too much on a “revamped” Quebec sales tax (QST) to save the day.
Robert Robillard, CPA, CGA, MBA, M.Sc. Econ.
Senior Partner, DRTP Consulting Inc.
514-742-8086; robertrobillard “at” drtp.ca
DRTP Consulting Inc. solutions go beyond transfer pricing and international tax solutions. The information in this blog post is general information only. Data and information come from sources believed to be reliable but complete accuracy cannot be guaranteed. DRTP Consulting Inc. or the author are not responsible or liable for any error, omission or inaccuracy in such information. The opinions expressed in this blogpost are those of the author. Readers should seek advice and counsel from DRTP Consulting Inc. as required.