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.”
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.
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