Quebec’s Former Premier ‘Seriously Worried’ About Provinces Economy

This article was last updated on April 16, 2022

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Former Premier of Quebec, Jacques Parizeau, recently mentioned in a column, published on Monday, that he is seriously worried about the state of Quebec’s economy. In the opinion column published in Journal de Montreal, Parizeau, stated that ‘it’s the first time in 30 years that I am worried about the economic future of Quebec.”

Mr. Parizeau citied reference of two studies recently published in recent weeks, by the University of Sherbrooke and HEC Montreal, which argue that Quebecers are paying extraordinary amount of taxes but still lacks far behind other provinces and countries in terms of productivity and spending power. According to the Sherbrooke study, unless Quebec’s government implements an elaborate change in its spending policies, the province will face “an apocalypse” in the next 35 years. On the other hand, the study published by HEC claims that Quebecers are steadily falling behind since the province is almost always spending more than it earns in revenue.

Author of the HEC study, Richard Gagné, stated last week that the study found Quebec spending too much time and money in order to expunge social inequality at the cost of growth. He predicted that soon the province will have to radically tone down its public services in order for the province and citizens to live within their means. The author stated, and Gagné. Parizeau agreed, that $7-a-day “daycare is a nice program, if we can afford it,” indicating that the province is in awful need of some “shock therapy.”

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