Sunday, April 19th11.7°C
25826

Quebec premier considering partial privatizing of liquor board and power utility

CLERMONT, Que. - Quebec Premier Philippe Couillard isn't ruling out the partial privatization of Hydro-Quebec and the province's liquor board as an answer to the province's budgetary woes.

Couillard told a news conference today he wants to examine all options, including the privatization suggestion made by two financial experts last week.

But the premier added that any move to privatize would not occur in the next fiscal year and that he will use more traditional measures in the upcoming provincial budget in June to improve public finances.

Economists Luc Godbout and Claude Montmarquette painted a grim portrait of Quebec's financial situation and suggested drastic measures are needed to salvage the province's economy.

The partial privatization of about 10 per cent of both Hydro-Quebec and the liquor board, known as the SAQ, were just some of the changes proposed by the pair.

The money would be used to pay down the province's staggering debt.

Couillard said he is committed to the previous government's objective of a $1.75-billion deficit this fiscal year

To do so, he'll have to find an additional $3.7 billion because of falling revenues and increased expenses.

The government is hoping to achieve a balanced budget in 2015-16.

Couillard has vowed to do so without raising taxes.

Complicating matters is the fact the deficit for the most recent fiscal year came in at $3.1 billion instead of the $2.5 billion the previous Parti Quebecois government mentioned prior to the election.

"This is the kind of question (privatization) that we'll submit to our committees, one on taxation and one on program revisions, and we will certainly, if we decide to go that route, to have public debate about it," Couillard said.

The Liberal government has also asked the province's auditor general to review the previous government's finances.

Couillard made his comments on Tuesday during an announcement in the Charlevoix riding that was home to his predecessor as premier, former PQ leader Pauline Marois, until she was defeated on election night.

The Canadian Press


Read more Business News

25790


Recent Trending




Today's Market
S&P TSX15360.55-26.22
S&P CDNX702.85-2.74
DJIA17826.30-279.47
Nasdaq4931.81-75.98
S&P 5002081.18-23.81
CDN Dollar0.8169-0.0001
Gold1202.90+6.10
Oil56.14-0.57
Lumber248.00-9.80
Natural Gas2.641-0.043

 
Okanagan Companies
Pacific Safety0.12+0.00
Knighthawk0.010.00
QHR Technologies Inc1.40-0.01
Cantex0.035+0.005
Anavex Life Sciences0.33+0.02
Metalex Ventures0.075+0.030
Russel Metals27.48-0.23
Copper Mountain Mining1.13+0.01
Colorado Resources0.10-0.00
ReliaBrand Inc0.005+0.001
Sunrise Resources Ltd0.04-0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation1.80+0.15

 





FEATURED Property
2253893205 3155 De Montreuil Crt
2 bedrooms 1 baths
$179,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Calling on your help!

Has the internet flattened prices as predicted? Has the internet created opportunities for your business to find higher priced markets further afield? Is posting prices on your website a good thing o...


Living with Plan B

“It does not do to leave a live dragon out of your calculations, if you live near him.”― J.R.R. Tolkien, The Hobbit Photo: Thinkstock.comHuman beings are optimists by nature. Whether...


Reverse mortgage solution

With the housing and financial markets on solid footing, some retired Canadians may consider cashing in their growing assets to enjoy vacations and major home renovations. Others, on the other hand, a...

_



25979

25979


Member of BC Press Council


24875