Quebec’s finance minister unveiled a budget that significantly increased government spending to confront economic challenges. Eric Girard emphasized the need to bolster the Quebec economy amid U.S. tariff threats during the presentation of the 2025-26 budget in the National Assembly. Despite acknowledging the high deficit, Girard stressed the importance of supporting businesses and responding to uncertainties.
Titled “For a Strong Quebec,” the budget prioritizes investments totaling $12.3 billion over the next five years to enhance wealth creation and aid Quebecers. A significant portion of this allocation is aimed at assisting businesses in adapting to tariffs, launching new projects, and expanding market diversification beyond the U.S.
Despite efforts to cut administrative costs and generate savings, government expenditure surpasses revenue, leading to a projected deficit of $13.6 billion. The uncertainty surrounding Trump’s tariff policies further complicates economic forecasts, with Quebec estimating potential tariffs averaging 10% over two years.
Opposition parties criticized the budget, alleging mismanagement of public funds under the guise of addressing the U.S. trade war. While Girard defended the increased spending on social services, healthcare, and education, concerns were raised about the potential impact on Quebec’s financial future. The government aims to achieve a balanced budget by 2030, focusing on efficiency gains and disciplined measures to manage expenses and optimize tax credits.
Despite the opposition’s skepticism, Girard portrayed the budget as a balanced approach that prioritizes both social services and economic stability. The government’s strategy involves weathering economic uncertainties while safeguarding public services to navigate the challenging fiscal landscape ahead.
