Montréal, March 5, 2024 – On the eve of a budget that will be largely in deficit, the Centre for Productivity and Prosperity – Walter J. Somers Foundation (CPP) releases the fourteenth edition of Productivity and Prosperity in Quebec – Overview. Its main finding is clear: Quebec’s industrial policy is a failure and hinders the economic growth of the province.
“For 25 years, Quebec’s approach to economic development has remained the same,” explains Robert Gagné, Director of CPP and co-author of the study. “The government actively promotes the development of sectors it deems promising and passively seeks to preserve jobs in businesses that are not conducive to productivity, innovation, and investment. The result is an uninspiring economic environment that tends to limit economic growth instead of accelerating it, with the consequences we observe today.”
