Photo: Jacques Boissinot archives The Canadian Press “It's not normal that we invest all our marbles in multinationals,” Paul St-Pierre Plamondon declared before the Chamber of Commerce of Metropolitan Montreal.
Matthew Carbasse
Posted at 7:24 p.m.
- Quebec
When asked what the pillars of the Quebec economy will be in an independent Quebec, the leader of the Parti Québécois answers without hesitation: SMEs.
“The CAQ has decided to bet big on a few projects, while a bunch of small and medium-sized businesses find themselves without support and without electricity,” Paul St-Pierre Plamondon explained to Devoir, on the sidelines of an event organized by the Chamber of Commerce of Metropolitan Montreal.
According to him, it is time to change Quebec’s economic model, which would consist of betting everything on large international companies.
“It's not normal that we invest all our money in multinationals,” he explains, openly criticizing the CAQ government and its “branch economy.”
To encourage the emergence of Quebec SMEs, the leader of the Parti Québécois is instead proposing to relaunch the Gazelles program that was created under Pauline Marois.
In exchange for government support, he will ask the SMEs benefiting from the program to respect two conditions: that they keep their head office in Quebec for a minimum period of time and that they pay their taxes in Quebec, without going through tax havens.
“Why aren't Quebec companies the ones with the battery expertise, when Quebec is one of the nations with the most available hydroelectricity ?,” he asks, in a barely hidden reference to the difficulties of François Legault's government in the Northvolt file.
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82 billion in the caisses
Furthermore, Paul St-Pierre Plamondon believes that making Quebec independent will allow it to regain financial health and solid public finances.
“It is very difficult to manage expensive and complex sectors such as education, health or social services with only half the resources available. Independence would give us back $82 billion with which we will make very different choices,” he explains.
“We cannot send half of our taxes to Ottawa in exchange for very few services and think that it will go very well.”
While he does not envisage nationalization in strategic sectors such as forestry or mining, he does not close the door completely because, in the end, “it is Quebecers who will choose.” Quebecers and the economic context that will prevail at the time of possible independence.
Automation and decarbonization
While the PQ is proposing to halve temporary immigration to Quebec, reducing the number of non-permanent residents from 600,000 to a range of 250,000 to 300,000, Paul St-Pierre Plamondon wants to focus on the automation and robotization of Quebec’s production system to compensate for the lack of workers.
The leader of the Parti Québécois thus wants to “innovate rather than rely on cheap labour, especially when we can’t house everyone.”
Another challenge for an independent Quebec: moving away from oil by focusing on hydroelectricity.
If Mr. St-Pierre Plamondon doesn’t explain how he will achieve this, it will be difficult to arrive, according to him, with the current management of the government.
“We had an energy surplus that the CAQ squandered by selling energy to our southern neighbors and welcoming multinationals that gobble up so much electricity that there is no more for our businesses,” he says.
As for Hydro-Québec rates, he wants to let the CAQ continue its reform before making a decision. However, he denounces the CAQ government's desire to increase rates in a disguised way, using taxes.
“The CAQ wants to make everyone pay, it's indefensible. We'll be more in the user-pays logic,” he says.
Taking advantage of the global context
While Donald Trump will soon be returning to the White House, Paul St-Pierre Plamondon wants to act “with diplomacy and prudence” with our southern neighbors. He therefore wants to give the Trump administration time to settle in before deciding on the development of trade between Quebec and the United States.
In any case, the global economy has always oscillated between cycles of economic liberalization, followed by more protectionist cycles, according to him.
Also, a more protectionist shift would not be viewed as such a bad thing for the Quebec economy. Mr. St-Pierre Plamondon even sees advantages for the environment because a more protectionist shift would promote short supply chains and reduce GHG emissions.
“There will be opportunities for Quebec,” he enthuses.