The numbers
The Budget Quebec 2026 outlines a projected deficit of $6.3 billion, which represents 0.9% of the province’s GDP. The budget forecasts total revenues of $166,492 million against expenditures of $170,757 million.
In a notable shift, the budget allocates 4.1% more for health and social services, while education funding sees a modest increase of 2.4%, falling short of the required 3.8% increase. Overall program spending is set to rise by 1.6%, although a 3.2% increase was necessary to meet system costs.
Quebec’s Finance Minister, Eric Girard, emphasized the province’s economic stability, stating, “The economic foundations of Quebec are solid.” However, critics point out that the government is engaging in austerity measures despite improvements in public finances.
The budget includes significant allocations aimed at addressing pressing needs: $910 million is earmarked for major state missions, with $400 million specifically for health services, including $162 million for consolidating care and services. Education will receive $165 million, which includes $50 million for modular classrooms.
Housing support is also a priority, with $292.3 million allocated to improve access, including $46.1 million for the construction of 1,000 affordable housing units. Additionally, the budget sets aside $742.3 million for targeted support to Quebecers and communities.
Despite these allocations, the government is expected to incur a loss of $3.0 billion in 2026-27 due to tax cuts. Critics argue that while the government claims to be putting money back in the pockets of Quebecers, the tax reductions have significantly impacted the budget’s capacity to fund essential services. One observer noted, “The budget includes no big-ticket items or bells and whistles typically associated with a pre-electoral budget.“
As the province navigates ongoing economic uncertainty and prepares for upcoming elections, the implications of this budget will be closely watched. Details remain unconfirmed regarding how these allocations will be implemented and their potential impact on the province’s financial health moving forward.
