{"id":1431,"date":"2013-12-18T19:20:00","date_gmt":"2013-12-18T19:20:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2013\/12\/18\/rousselle-laval-residents-wary-after\/"},"modified":"2015-06-01T19:41:24","modified_gmt":"2015-06-01T19:41:24","slug":"rousselle-laval-residents-wary-after","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2013\/12\/18\/rousselle-laval-residents-wary-after\/","title":{"rendered":"Rousselle: Laval residents wary after Fitch issues \u2018negative outlook\u2019 on Quebec"},"content":{"rendered":"

\u2018Economy risks reaching tipping point\u2019<\/b><\/i><\/p>\n

\n
<\/b>
\nBy Robert Frank<\/b>
\nwww.thesuburban.com<\/a><\/p>\n

Jean Rousselle makes a point of getting out of his riding office to mingle with his Vimont constituents. You can often find him breakfasting at a local Tim Horton\u2019s or lunching at McDonald\u2019s to sound them out.<\/p>\n

\u201cThe economy worries them a lot,\u201d reported the riding\u2019s representative in Quebec City. \u201cMany are retired or have no work. They want to know how Quebec will get out of its current rut. How they will pay for groceries.\u201d<\/p>\n

\u201cUnfortunately, the Quebec government is only asking them for more money,\u201d Rousselle told The Suburban<\/i> in an interview. \u201cThey\u2019re yanking money out of the budgets of English and French school boards. They’ve increased school taxes. They are asking the population to pay more or are trimming services, like the $56 million that they cut from daycares, with another $40 million in cuts that might follow.\u201d<\/p>\n

\u201cJobs and the economy ought to be the government\u2019s number one priority,\u201d Rousselle suggested.<\/p>\n

He questioned the Parti qu\u00e9b\u00e9cois<\/i> government\u2019s stewardship of the province\u2019s finances.<\/p>\n

\u201cThe Quebec economy is at risk of a reaching the tipping point,\u201d he declared.<\/p>\n

Rousselle noted that the Parti Qu\u00e9b\u00e9cois finance minister Nicolas Marceau has acknowledged his missteps in allowing Quebec\u2019s budget deficit to balloon.<\/p>\n

\u201cIt led New York bond rating agency Fitch to downgrade Quebec\u2019s financial prospects from \u201cstable\u201d to \u201cnegative\u201d, he said. \u201cPlaytime is over. The Parti Qu\u00e9b\u00e9cois government is too costly for Quebec families.\u201d<\/p>\n

\u201c[Quebec\u2019s] vulnerabilities include global trade links, particularly with the U.S. market, and a significant manufacturing sector,\u201d Fitch warned in a statement last week.<\/p>\n

\u201cQuebecers don\u2019t live in a bubble,\u201d Rousselle observed. \u201cWe\u2019re part of the world economy. Investors want to know why they should put their money into Quebec. Instead, the government has thrown a monkey wrench into the works, bringing economic initiatives like the Plan Nord to a grinding halt.\u201d<\/p>\n

Rousselle likened the economy to a bicycle, which, if it slows down too much, will fall over.<\/p>\n

\u201cThe wheels of the economy have to keep turning,\u201d he said. \u201cThere are many businesspeople in Vimont who, like their counterparts elsewhere in Laval, are quite concerned. I have constituents who do business in China and Thailand. They\u2019re already seeing fewer buyers and consequently cutting staff.\u201d<\/p>\n

\u201cYou can also witness the adverse spinoff effects taking hold here,\u201d Rousselle added. \u201cPeople have stopped spending. They\u2019re keeping their cars for seven years, rather than trade them in after five. In addition, restaurants aren\u2019t doing as well, despite the current lead-up to the holidays.\u201d<\/p>\n

\u201cSome of them won\u2019t make it,\u201d he predicted.<\/p>\n

\u201cI find this quite distressing,\u201d Rousselle concluded. \u201cIt\u2019s the worst crisis I\u2019ve seen.\u201d<\/p>\n

\u201cWe\u2019ve been lucky in Laval, where we\u2019re doing better than the rest of the province,\u201d he acknowledged, \u201cbut we can\u2019t remain afloat indefinitely. The economic tsunami will swamp us at some point.\u201d <\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\u2018Economy risks reaching tipping point\u2019 By Robert Frank www.thesuburban.com Jean Rousselle makes a point of getting out of his riding office to mingle with his Vimont constituents. You can often find him breakfasting at a local Tim Horton\u2019s or lunching at McDonald\u2019s to sound them out. \u201cThe economy worries them a lot,\u201d reported the riding\u2019s<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1431","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nRousselle: Laval residents wary after Fitch issues \u2018negative outlook\u2019 on Quebec - Newscoverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscoverage.org\/index.php\/2013\/12\/18\/rousselle-laval-residents-wary-after\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rousselle: Laval residents wary after Fitch issues \u2018negative outlook\u2019 on Quebec - Newscoverage\" \/>\n<meta property=\"og:description\" content=\"\u2018Economy risks reaching tipping point\u2019 By Robert Frank www.thesuburban.com Jean Rousselle makes a point of getting out of his riding office to mingle with his Vimont constituents. 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