{"id":539,"date":"2014-11-06T06:06:00","date_gmt":"2014-11-06T06:06:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2014\/11\/06\/finance-minister-addresses-provinces\/"},"modified":"2015-06-01T19:40:48","modified_gmt":"2015-06-01T19:40:48","slug":"finance-minister-addresses-provinces","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2014\/11\/06\/finance-minister-addresses-provinces\/","title":{"rendered":"Finance Minister addresses province\u2019s future at WICC"},"content":{"rendered":"
\n\u2018We need to get used to a slower paced economy that won\u2019t match the steady growth of the last two decades.\u2019<\/i><\/b><\/div>\n
\nCarlos Leit\u00e3o<\/i><\/b><\/div>\n

\nBy Kevin Woodhouse<\/b>
\nwww.thesuburban.com<\/a><\/p>\n

Provincial Finance Minister and Robert-Baldwin MNA Carlos Leit\u00e3o spoke to a full house last Friday at the Marriott in Dorval as part of the West Island Chamber of Commerce lecture series that included business leaders and municipal and provincial representatives. <\/p>\n

Leit\u00e3o\u2019s central message to the assembled was that although the province of Quebec was able to get over the global recession of 2009 and that the government\u2019s proposal to reduce the deficit is constant, slow growth \u201cwill be the backdrop for the next couple of years and we will face much slower paced and complex economic growth,\u201d said Leit\u00e3o.<\/p>\n

The previous PQ government\u2019s 18-month reign that focused on language politics, referendums and a charter of values did nothing to augment investment in Quebec, Leit\u00e3o said. And while there was more growth this year than in 2013, \u201cconsumer spending has likely hits its limit due to personal debt and job security concerns. <\/p>\n

\u201cDemographics will also play a major role in Quebec as there will be less people in the 15-64 age group and as the province ages, this gap will only widen even further,\u201d said Leit\u00e3o. \u201cWe need to get used to a slower paced economy that won\u2019t match the steady growth of the last two decades.\u201d <\/p>\n

With slower expectations on the economy for the next few years, Leit\u00e3o noted that government finances will \u201cbe problematic for growth and that it cannot be up to the government to create jobs; that is the role of the private sector.\u201d <\/p>\n

With 60 per cent of the government\u2019s program spending going directly towards salaries, the finance minister stated that \u201cthe debt will explode if unchecked and we will have to find ways to finance new programs that are essential such as having working sprinklers in all seniors citizens\u2019 residences.\u201d <\/p>\n

Leit\u00e3o explained that the \u201cin the world of very sluggish, economic growth, we cannot be spending more than the government receives in revenue which is about 3.5 per cent to play with. We are trying to control growth and spending without having to cut programs savagely.\u201d <\/p>\n

While balancing program cuts matched with government spending with numbers the tax payers can bear, Leit\u00e3o also wants to ensure \u201cthat we create a favourable environment for private investment in Quebec.\u201d<\/p>\n

In terms of what the Liberals will spend money on, Leit\u00e3o said that within the next decade, the government plans to spend 90 billion on infrastructure projects that include the Dorval Circle and the new Turcot Interchange. <\/p>\n

The government plans to release its reports on the future of certain programs in the fall with the Liberal\u2019s fiscal report due out by December.
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\u2018We need to get used to a slower paced economy that won\u2019t match the steady growth of the last two decades.\u2019 Carlos Leit\u00e3o By Kevin Woodhouse www.thesuburban.com Provincial Finance Minister and Robert-Baldwin MNA Carlos Leit\u00e3o spoke to a full house last Friday at the Marriott in Dorval as part of the West Island Chamber of<\/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-539","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nFinance Minister addresses province\u2019s future at WICC - 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\/2014\/11\/06\/finance-minister-addresses-provinces\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Minister addresses province\u2019s future at WICC - 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