Thursday, November 27th3.6°C
24124
23919

Quebec economists advocate selling power utility, public sector wage freeze

QUEBEC - Quebec's new Liberal government should consider selling off portions of Hydro-Quebec and the liquor board as part of reforms to help balance the budget, says a report released Friday.

In analysis commissioned by the government even before it officially took power this week, economists Luc Godbout and Claude Montmarquette painted a grim portrait of Quebec's financial situation.

The report argues drastic measures are required to prevent the province from being downgraded by credit agencies.

The partial privatization of Hydro-Quebec and the liquor board, known as the SAQ, are only two of several major changes advocated by the experts to help get Quebec off the fiscal cliff.

Godbout and Montmarquette also suggest a wage freeze for public employees, increased service fees and a hike in the cost of Quebec's $7-a-day daycare.

Premier Philippe Couillard said Thursday he's still aiming to meet the previous Parti Quebecois government's objective of a $1.75-billion deficit in 2014-15 and a balanced budget the following year.

But he also said the province's deficit for the most recent fiscal year was $600 million more than projected.

He said the 2013-14 deficit clocked in at more than $3.1 billion instead of the $2.5 billion mentioned by the PQ before the election.

Couillard has already given notice his government will take steps to cut spending.

The government will try to cut administrative costs and impose a hiring freeze in the public sector, he said.

The Canadian Press


Read more Business News

24035


Recent Trending




Today's Market
S&P TSX15008.41-30.00
S&P CDNX765.38-5.68
DJIA17827.7512.81
Nasdaq4787.317+29.065
S&P 5002072.83+5.80
CDN Dollar0.8851-0.0038
Gold1193.50-3.10
Oil72.56-1.13
Lumber327.90-1.60
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.160.00
Knighthawk0.01-0.005
QHR Technologies Inc1.32-0.02
Cantex0.04-0.005
Anavex Life Sciences0.171-0.004
Metalex Ventures0.03-0.005
Russel Metals31.37-0.13
Copper Mountain Mining2.17+0.01
Colorado Resources0.12-0.01
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.34+0.015

 
24130


23015

FEATURED Property
2129784126 3984 Finnerty Rd
2 bedrooms 2 baths
$340,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Second marriage issues

It is not unusual that one or both of the parties planning to marry are approaching marriage for the second time. There are pluses and minuses to this new situation. On the plus side, individuals ente...


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...

_



24231

24119


Member of BC Press Council


24003