PQ releases its financial plan

Parti Québécois Leader Pauline Marois has released her party's financial plan during a news conference in Quebec City after getting slammed by her adversaries during the leaders' debates.

According to the PQ, its promises should cost $992 million dollars by the end of its term as Quebec's government if it is elected on Sept. 4.

This is approximately $200 million per year.

The party plans to fund its promises with the economic growth planned in the 2012-2013 budget and by imposing new taxes on people who earn more than $130,000 annually.

The PQ also plans to limit government programs' spending growth by 2.4 per cent over five years. This growth currently sits at three per cent.

If elected, Marois said she expects the budget to balance again next year.

Marois boasted the fact that she was the only finance minister to reduce the province's overall debt and said her party's commitments to the province are the least expensive of all the parties running in this year's election.

Leaders critical of party financials

While on the campaign trail, the PQ promised space for every child in daycares and to increase funds for home care for the elderly. The party also wants to freeze tuition fees, which it expects would cost $150 million. They also plan to abolish Quebec's health tax – a measure that would cost the province a little more than a billion dollars.

"In terms of revenue – contrary to the CAQ that invents revenues that will not exist – our financial framework is based on actual previsions from the financial minister. They are real revenues. This plan is therefore very responsible," said Marois.

Of the three leading parties, both the Liberals and the Coalition Avenir Québec have tried to support their electoral promises with financial plans; however, the PQ had opted to withhold the plan until now.

According to the Liberal's financial framework, the party has vowed $1.2 billion for projects by the fifth year of its mandate in a variety of sectors, particularly by offering tax credits for experienced workers and for reworking the province's infrastructure and Montreal's metro system.

Liberal Party Leader Jean Charest said Marois' financials don't add up.

"[Marois'] plan doesn't work, that explains why it's late," said Charest.

He also added that Marois' desire to freeze the tuition hike would not work because it would go over the budget.

The CAQ has offered a detailed plan that spans five years. The party estimates its electoral promises will cost $3.7 billion by the end of its term, claiming it will make healthcare and education its main priorities.