Some of Quebec’s most prominent business leaders used a Montreal gathering on Friday to press political parties to make economic development a top priority for the province’s next government, just three days before Quebecers head to the polls.
Andrew Lutfy, CEO of Groupe Dynamite, told hundreds of entrepreneurs at the event that he believes Quebec has become “uninvestible,” calling it “the most onerous jurisdiction to do business in.” He said Quebecers need to shift their mindset toward winning rather than accepting underperformance.
Lutfy was joined by Alain Bouchard, co-founder of Couche-Tard, along with other business leaders, in delivering the message. The group pointed to Quebec’s ranking among the bottom 10 per cent of U.S. states and Canadian provinces for GDP per capita and purchasing power.
Economist Points to Regulatory Climate
Economist Moshe Lander said he was not surprised by the business leaders’ concerns, describing Quebec’s economic environment as more parochial, more of a “nanny state” and more heavily regulated than other jurisdictions. The business leaders said they want the next government to remove obstacles to growth, though they did not specify exactly which barriers they had in mind.
Election Timing Adds Uncertainty
The appeal comes amid ongoing referendum discussion ahead of the provincial vote. Lander said this kind of political uncertainty is likely making businesses uneasy, noting that companies generally dislike unpredictability. He also pointed to Quebec’s policies around language and culture as areas that can pose challenges for businesses operating in the province.
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