Liberals, CAQ Scrutinize PQ’s Economic Policies in Quebec Campaign

The two main opposition parties in Quebec, Liberals and CAQ, have launched their first full day of provincial election campaign that mainly focused on attacking what they deemed as weak links of the Parti Québécois’ economy and public finances.

Liberal Leader, Philippe Couillard, made use of the opportunity of being present at the Montreal Stock Exchange to introduce a trio of prominent bankers and economists merging into politics, namely economist Carlos Leitao, Martin Coiteux, an economist with the Bank of Canada, and Jacques Daoust, the former longtime head of Investissement Québec. Each of the key economists’ revealed their deep concern for trends in the Quebec economy after 18 months since the Parti Québécois took power. Mr. Coiteux stated that “a morose climate has been establishment, and private investment has stopped growing,” whereas Mr. Leitao described Quebec’s situation as “very weak and precarious” compared to the rest of Canada and the United States.

While the Liberal candidates were scrutinizing long-term trends of incompetent growth and the PQ kept busy in organizing events to show off the party’s integrity, the Coalition Avenir Quebec made a brave promise to deliver a balanced budget within a year. According to an economic plan introduced by CAQ Leader, François Legault, it was proposed to cut spending and freeze hiring in the public service in order to achieve a zero deficit by the end of the 2014-2015 fiscal year. The proposal also aimed to reduce spending by $1.3-billion in the next fiscal year and continue cost-cutting through 2017-2018.

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