Oops ...this is gonna hurt..Quebec deficit 2.1 billion!!!! - ehMac.ca
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Old Dec 13th, 2005, 06:17 PM   #1
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Cool Oops ...this is gonna hurt..Quebec deficit 2.1 billion!!!!

Quote:
Quebec deficit vastly underestimated, auditor says
By NORMAN DELISLE
Tuesday, December 13, 2005 Posted at 5:02 PM EST
Canadian Press

Quebec — The provincial Auditor-General contradicted Quebec's Finance Minister on the size of the provincial deficit Tuesday, saying it is $2.1-billion for fiscal 2004-2005 and not $664-million as stated by Finance Minister Michel Audet.

It's the second time this year auditor general Renaud Lachance said the government has under-reported its deficit.

Mr. Lachance said in March the government under-reported its 2003-2004 deficit by nearly $1.4-billion and described the accounting methods as “creative.”

Mr. Lachance said Tuesday there were a number of “loopholes” in the government's accounting for the 2004-2005 period, saying it had underestimated the pensions for employees, not included certain numbers for health and education and badly evaluated the losses on loans guaranteed by the government.
http://www.theglobeandmail.com/servl...tory/National/

What incredible timing for a national election factor.

Gonna be quite the fall out from this I would guess. Now where does the backlash come into play.

If they are that much in the hole it means the independence is dicey.

But it's a Liberal gov at the helm.........

Interesting times......



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Old Dec 13th, 2005, 06:32 PM   #2
 
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The Feds will bend over and bail Quebec out.
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Old Dec 13th, 2005, 06:33 PM   #3
 
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Quote:
Originally Posted by MacDoc
If they are that much in the hole it means the independence is dicey.

But it's a Liberal gov at the helm.........

Interesting times......
MacDoc, it will fuel the desire to separate as it will be blamed on the Liberals and I'm sure we will hear that if all of Quebec's taxes stayed in Quebec...

There is a misconception that the Feds do not give anything to Quebec...
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Old Dec 13th, 2005, 06:35 PM   #4
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Gee - does that mean Ontario will get to keep all ours.......let the boogers go

Last time I checked the Economist said Ontario was out $18 billion US beyond what we get back.

Time THAT stopped.



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Old Dec 13th, 2005, 06:37 PM   #5
 
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Originally Posted by ArtistSeries
There is a misconception that the Feds do not give anything to Quebec...
...yet.
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Old Dec 13th, 2005, 06:40 PM   #6
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I'm paying a Quebec income tax installment on Thursday. That should help even things up a little.
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Old Dec 13th, 2005, 09:47 PM   #7
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Quote:
Originally Posted by Mugatu
The Feds will bend over and bail Quebec out.
You mean the rest of Canada will bend over as the feds take from us to bail Quebec out.
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Old Dec 14th, 2005, 12:41 AM   #8
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I like it when we hate other provinces out loud. It shows how smart we are.

s.
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Old Dec 14th, 2005, 12:53 AM   #9
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I don't hate other provinces, I hate how the government works.
We didn't help them get into that much deficit, yet the Gov't is sure to skim a little off the top from around the country if they do plan to help them out (And don't say the government wouldn't do anything like that, Hello AdScam anybody???)
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Old Dec 14th, 2005, 12:55 AM   #10
 
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Originally Posted by mr.steevo
I like it when we hate other provinces out loud. It shows how smart we are.

s.
???

Did he say hate? I think that all comment have been at Ottawa, I'm sorry, the Federal government, not Quebec.

Quebec will probably get their problems in order by themselves. It's just election time, and Martin looooooooves to buy people out.
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