Fall shutdown can be ‘catastrophic’ for Quebec financial system: Legault


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One other shutdown due to the pandemic can be a “catastrophe” for the financial system, based on the Coalition Avenir Québec authorities, which is already occupied with new packages to assist companies.

“We don’t see it taking place, however certainly, it damage rather a lot, closing businesses in the spring, so we don’t need it to occur this fall,” Premier François Legault stated on Wednesday. “It could be catastrophic.”

Legault was reacting to feedback made earlier by Quebec Financial system Minister Pierre Fitzgibbon.

“Economically talking, it might be a catastrophe,” Fitzgibbon had stated. The present $15-billion deficit would additionally enhance considerably, he stated.

As stricter measures to gradual the progress of the pandemic in Quebec loom, Fitzgibbon is already predicting a “troublesome fall” even when there isn’t one other shutdown.

He fears a cascade of dangerous financial information, enterprise closures and worse.

“There have to be no hemorrhaging,” he stated within the hallways of the Nationwide Meeting.