PQ Minority Government

The Parti québécois (PQ) has formed a minority government, which reduces near-term referendum risk. On the economic and fiscal front, however, the result changes less than it might appear. A weak economy, a shrinking working-age population and an already very tight spending path would have imposed similar constraints on a Liberal or CAQ government. The main parties all targeted a balanced budget by 2029–30, and their fiscal frameworks also relied on savings that remain difficult to document. The issue is therefore less the direction chosen than the government’s capacity to implement its plan.