Finance Minister Eric Girard acknowledged on Friday that the path to achieving a balanced budget is challenging. He highlighted that if a trade agreement between Canada and the United States is not reached next year, Quebec might need to suspend its balanced budget law.
During a speech at the Chamber of Commerce of Metropolitan Montreal, the minister outlined the key points of his budget update and expressed concerns about the potential impact of a lack of trade agreement with the U.S. President Donald Trump’s actions could have significant consequences on Quebec’s economy and budgetary situation, forcing the government to prioritize supporting the economy over adhering to budgetary targets.
As the 2026 election approaches, Girard indicated that the Coalition Avenir Québec (CAQ) plans to reduce the tax burden on Quebecers, but this would be contingent on achieving a balanced budget first. When asked about the financial feasibility of campaign promises, Girard emphasized the importance of presenting realistic financial plans, especially for parties with a strong chance of forming a government.
