April 19, 2024

Presently when the PQ is mathematically proving that Quebec is wealthy sufficient to be grasp of its personal home, and when the federal workplace of the Parliamentary Funds Officer ranks Quebec on the high of essentially the most financially viable provinces, know that Quebec is doing comparatively nicely internationally.

That is evident from two research simply printed by researchers Suzie St-Cerny and Luc Godbout from the Analysis Chair in Taxation and Public Finance on the College of Sherbrooke: “Taking a look at Collective Enrichment: Understanding, Get Alongside and Act” and “Collapse within the Indicators of dwelling requirements and well-being”.

Primarily based on the most recent World Financial institution information primarily based on actual GDP “in U.S. {dollars} at buying energy parity,” Quebec ranks twenty second among the many 31 “superior economies which can be members of the OECD” to which we added Quebec.

Canada is in fifteenth place. From this choose group of round thirty international locations, Luxembourg, Eire, Switzerland, Norway and the US occupy the highest 5 locations within the rating.

Let’s not idiot ourselves. Quebec remains to be not very wealthy if we evaluate ourselves with the US, fairly the other. As measured by GDP per capita in U.S. {dollars}, the usual of dwelling in the US is 52.3% greater than in Quebec. Our wealth hole is 15.2% with Canada and 23.1% with the 31 superior OECD economies.

From an interprovincial perspective, Quebec’s way of life has nonetheless declined considerably in comparison with the oil producing provinces and Ontario.

The excellent news? Since 1990, Quebec has considerably improved its actual GDP per capita hole with Ontario, lowering it by 8.1 share factors. The hole as we speak is 12.3%. In 2022 it was 14%.

And François Legault’s CAQ authorities’s purpose is to cut back the hole with Ontario to beneath 10% by the tip of 2026. And in 2036 to 0%!

In accordance with researchers St-Cerny and Godbout, if Quebec had managed to shut the 14% hole with Ontario in 2022, the next would have been an asset to Quebec’s economic system:

  • Influence on actual GDP: +$59.2 billion
  • Influence on GDP per capita: +$6,804
  • Nominal GDP Influence: +$77.6 billion
  • Influence on the federal government’s personal income: +$16.3 billion
  • Common impact on wage per worker: +$9,000

Even higher

With a view to assess the standard of dwelling requirements in a rustic, not solely the prosperity indicator of actual GDP per capita is decisive.

The Human Growth Index, which incorporates the three dimensions of well being, revenue and schooling, additionally counts.

Out of a complete of 130 international locations, Canada ranks fifteenth. And if we embrace Quebec, we might be in sixteenth place. The primary three locations go to Switzerland, Norway and Iceland.

On the International Happiness Index, Quebec now performs higher than Canada, rating eighth out of the 130 international locations assessed. Canada ranks thirteenth. On the Happiness Index podium we discover Finland, Denmark and Iceland.

Of the 41 OECD international locations the place the Higher Life Index was measured, Canada ranks tenth. And Quebec’s place in Canada: 4th.