Overwhelmed financial executives

Overwhelmed finance executives

DAY

It's a time of great financial gloom. 

The stock market is down 13 to 30%, depending on the indices. The value of marketable bonds and other fixed-income securities fell by 10 to 19%. Interest rates have risen more than 3 percentage points. House prices could fall by more than 15%. Real GDP growth is increasingly weak. The cost of living has skyrocketed. 

And the icing on the sundae? The chances of entering a recession soon are very high. Not only here, but also throughout Canada, the United States, Europe, etc., etc.  

Meanwhile, the leaders of the political parties have sown the election gifts in order to woo voters.  

Too bad there are only two days left before the election. It would have been necessary to mobilize to demand from the five chiefs to redo their respective financial frameworks according to the new economic and financial reality.  

The economic forecasts on which the Minister of Finance, Éric Girard, used to prepare the Pre-election Report on the State of the Government of Quebec's Finances now appear manifestly overly optimistic.  

This suggests that revenues (taxes, taxes, etc. .) listed in said Pre-Election Report for the five fiscal years from fiscal year 2022-23 to fiscal year 2026-27 are likely too high.  

Following the panoply of electoral gifts offered by political parties, it is obvious that the budgetary balance presented in the financial frameworks of the parties no longer holds water since everyone's anticipated income will be lower than their forecasts.   

LEGAULT'S IMPRUDENCE 

It's crazy to point out what most political parties have presented to us as staggering increases in spending governmental.  

That said, I particularly blame the outgoing Prime Minister, François Legault.  

Why? Because he, following all the polls, has a 99.9% chance of staying in power, so much does he distance his opponents by great lengths.  

Mr. Legault and his economic trio, made up of the Minister of Finance, Éric Girard, the President of the Treasury Board, Sonia LeBel, and the Minister of the Economy, Pierre Fitzgibbon, had the responsibility and the duty to present a financial framework of “good family man”, that is to say within our financial means.  

By granting electoral gifts of $25.7 billion over 5 years, the 'establishment of the outgoing government of François Legault lacked prudence in weakening state finances.  

THE LIBERALS, NOT BETTER…  

I will be told that it is worse with the Liberals of Dominique Anglade when their electoral commitments amount to $31.1 billion. 

The difference between the Liberals of Anglade and the caquistes of Legault? Despite the dynamism of their leader, the Liberals have zero chance of regaining power following this election campaign.  

The Liberals may have promised the moon, the mass of voters never don't give a fuck, politically speaking, and that's why the Liberal Party is currently fighting for its survival.  

Among Ms. Anglade's relevant commitments, we note the “Seniors' Allowance” of $2,000 per year, tax-free, which would be paid to those aged 70 and over who are not in long-term accommodation. Cost of this measure: $10 billion over 5 years. 

THE GOOD IDEA PQUISTE  

In order to help the households most affected by the soaring rise in the cost of living, the Parti Québécois of Paul St-Pierre Plamondon had the brilliant idea of ​​offering this year a one-time financial allowance of $1,200 to people winning $50,000. People earning between $50,000 and $80,000 would be entitled to a one-time allowance of $750. 

This purchasing power allowance represents an expenditure of $6.3 billion $. Added to this is a one-time expenditure of $900 million to double the solidarity tax credit for low-income households.  

This kind of one-time financial assistance, which the CAQ also offers ($600 for people earning less than $50,000 and $400 for $50,000 to $100,000), seems to me to be much more relevant than a tax reduction. or taxes.  

THE CONSERVATIVE SHOCK 

Éric Duhaime's Conservative Party stands out from other parties by offering voters Québécois to do a huge housecleaning in the finances of the State.  

Over the five fiscal years, the Duhaime Conservatives would ax a host of government programs to save a total of $31.7 billion.  

Along with these cuts drastic measures, Duhaime promises to cut taxes and duties by $24.4 billion.  

Result: of all the parties, only the Conservative Party would end the five fiscal years in the “best” budgetary position than in the Pre-Election Report.  

Q.$. 

With Québec solidaire and its co-spokesperson Gabriel Nadeau-Dubois, the “rich” would go through the wringer of taxation.  

And with QS, we enter the select category of ” rich” as soon as our income crosses the $100,000 mark.  

These “rich” would suffer an additional tax bite of $5.1 billion over the next four years. &nbsp ;

Furthermore, will be part of the “great fortunes and great estates” all those who hold net assets greater than $1 million.  

And to help a “government” of Québec solidaire to finance its 36 billion dollars in electoral commitments, these “fortunate” people would be subject to a new tax grab that would bring into the government coffers nearly 10 billion dollars over four years. < /p>

Financial executives ers exceeded