The QLP corrects its financial framework… for the second time | Elections Quebec 2022

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The QLP corrects its financial framework… for the second time | ÉQuebec 2022 elections

The document, reviewed last week, included more errors.

Ex-finance minister Carlos Leitao was responsible for the liberal financial framework this year.

The Liberal Party of Quebec (PLQ) is still reviewing its copy.

The political party led by Dominique Anglade posted the third version of its financial framework, which it had already corrected last week due to an “omission” of $16.3 billion.

The document still contained errors.

In both its first and second versions, the financial framework notably overestimated by $506 million over five years the revenue to be derived from the special tax on digital giants (GAFAM) that the QLP would like to introduce, as well as from the fight against tax havens for individuals and businesses, which training would like to strengthen.

These errors were noted by the daily La Presse in its Sunday edition. Radio-Canada noted them later.

That said, they change very little in the end, insofar as the estimated amount of Liberal commitments, which fluctuates around $29.5 billion, remains substantially unchanged.

What does it ultimately change for the proposals we make? It doesn't change anything, insisted Dominique Anglade, in a radio interview granted Monday morning to the station 98.5 Montreal.

< p>“It does not change the fact that the proposals we are bringing are exactly the same, that the debt will remain stable [and] that in the end, we will return to a balanced budget at the end of seven years. »

— Dominique Anglade, Leader of the Liberal Party of Quebec

The PLQ was the first of the five main political parties to present its financial framework, on September 4th. It provides for a flood of spending that contrasts with the budgetary rigor shown by its former leader Philippe Couillard, in power from 2014 to 2018.

Having failed to include billions of dollars in its calculation of the evolution of the public debt, the party was however forced to modify its financial framework, 10 days after the publication of this one.

These changes had a significant impact on the projections for the evolution of the ratio of gross debt to GDP for 2026-2027, which fell from 37.7%, down 4.4 percentage points percentage compared to the current ratio, at 40.2%, down only 1.8 points.

The author of the liberal financial framework, Carlos Leitao, justified himself by pointing out that the calculation of Quebec's public debt [was] quite complex. Probably it was done too quickly, he admitted.

Mr. Leitao was until recently MNA for Robert-Baldwin, a riding on the west island of Montreal. He is not running again this year, but is acting as Liberal campaign chair.

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