Quebec living beyond its means: HEC study

The HEC business school has released a damning report which concludes that unless Quebec gets its financial house in order, it risks becoming the poorest province in the country.

The report cites debt levels that have climbed steadily since the early 2000's and policies that are unsustainable without increased productivity, higher exports and tough fiscal choices.

The authors also say that the quality of life in Quebec is now below that of several OECD countries and most Canadian provinces.

Only Nova Scotia, Prince Edward Island and New Brunswick are lower on the scale.

The Director of the Centre for Productivity and Prosperity at the HEC, Robert Gagné says that public finances have to be tightened and that the government must take a hard look at the financial viability of funding current social programmes, cut spending and try not to do more damage by raising taxes.

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  1. clint posted on 01/29/2014 11:08 AM
    "Only Nova Scotia , Prince Edward Island and New Brunswick are lower on the scale."
    The only reason they appear to be lower is due to the "creative" bookkeeping we use here.
  2. Skeptic posted on 01/31/2014 08:44 PM
    Another study which is sure to be swept under the rug. Charest tried to turn this ship around in 2003 or 4 (can't quite remember). The proud citizens of the people's republic of Quebec took to the streets and he backed down. The province is slowly coasting towards financial ruin with half the population cheering it on so they can blame Canada, the other half, afraid to rock the boat, lest they should be labeled Quebec bashers for daring to question the gospel that is the Quebec model.
  3. Brad008 posted on 02/20/2014 08:44 PM
    Maybe the next time Quebec feels inclined to have a sovereignty vote, instead of voting in Quebec the rest of Canada should have a say in "go" or "stay". Clearly, the Marois Government is creating a huge anchor to Canada's overall prosperity....and togetherness.
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