The reduction in tax rates announced by Minister Eric Girard is not taken from the income from taxes and duties collected by the government. It is financed by diverting revenue from the Generations Fund. A sleight of hand. It is our young taxpayers who will pay the price tomorrow.
I remind you that the Generations Fund was created in 2006 to tackle an ever-growing debt to finance current expenses – grocery expenses, as they are often called. Our debt per capita is still one of the highest in Canada.
Since 2006, all governments had stayed the course to comply with this law. To finance its electoral promise, the Legault government has just broken this consensus. What will become of the Generations Fund now?
There is a risk of witnessing an escalation of spending programs of political parties that will be financed – oh miracle – by once again diverting revenues from the Generations Fund. And so much the worse for future generations.
I hope that the youth wings of the political parties which, with Force Jeunesse, had strongly supported me in creating the Generations Fund, will rise up to defend their heritage.
With the accelerated aging of the Quebec population, this fund is essential to enable future generations to maintain the level of our public services.