Quebec to present economic update on Nov. 25 with focus on labour shortage

Finance Minister Eric Girard announced $125 million for school sports infrastructure as part of the 2021 budget Wednesday. Details will come out March 25. SOURCE: Eric Girard/Twitter

Quebec Finance Minister Eric Girard will present an economic update with a focus on the labour shortage on Nov. 25.

Quebec's top moneyman also pledged to present targeted measures to combat the rising cost of living.

In a press scrum at the National Assembly on Wednesday, Girard said he saw an 'important change' this year in inflation.

"Usually, we have an inflation rate of about 2 per cent per year. This year, it could average over 4 per cent. That's a big change," he said. There are several explanations for this. There are temporary and permanent elements, but what is certain is that we must help Quebecers."

Some of the relief measures will therefore be aimed at those 'who do not benefit from an increase in income to cope with increases in the cost of living,' he said.

In addition, last month, Premier François Legault had declared before members of the Fédération québécoise des municipalités (FQM) that the requalification of the workforce would be a priority.

"People who were in a sector where there is a little less future, and who want to go to a sector where there is more future, well we will (...) financially accompany people to requalify," he had said.

Without 'scooping' the mini-budget that is coming in November, this is going to be a very important subject.

In his opening speech on Oct. 19, Legault promised to add skilled workers in construction, information technology and engineering, for example.

On Wednesday, Girard reiterated his goal of returning to a balanced budget, after contributions to the Generations Fund, in 2027-2028.

- This report by The Canadian Press was first published in French on Oct. 27, 2021.

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