A group of prominent Quebec business leaders is urging the province’s next government to adopt more ambitious economic policies, warning that Quebec risks falling behind other jurisdictions without significant reforms. The appeal, delivered just days before Quebec’s provincial election on Monday, highlights concerns about the province’s growth prospects, regulatory environment, and overall economic competitiveness.

The initiative is being led by billionaire Andrew Lutfy, CEO of fashion retailer Groupe Dynamite Inc., and has support from notable figures including Alain Bouchard, founder and chairman of Alimentation Couche-Tard Inc., Laurent Beaudoin of the Bombardier family, and Paul Desmarais III of Power Corporation of Canada. Speaking at an event in Montreal, Lutfy stressed that while Quebecers tend to avoid discussions about wealth, focusing on wealth creation is essential for the province’s future. “The more wealth Quebec creates, the more choices it will have, and the more capacity it will have to invest and finance its priorities,” he said.

Lutfy emphasized that the appeal is non-partisan and stems from a sense of urgency. Quebec faces several structural challenges, including an aging population and the impact of international trade tensions since U.S. President Donald Trump’s election, which have disproportionately affected the province. According to recent data cited by Lutfy, Quebec ranks in the bottom 10 percent among Canadian provinces and U.S. states on key prosperity indicators. The provincial finance department has projected modest real GDP growth of 0.7 percent this year and 1.4 percent next year, figures that fall short of goals set by the business group. Lutfy called on the next government to aim for 3 percent annual real GDP growth and an economy valued at $1 trillion by 2033.

Alain Bouchard, addressing reporters from Asia, criticized Quebec’s regulatory framework as outdated and overburdening businesses, noting the need to review rules that have persisted for decades. He also urged the government to reduce its reliance on subsidies, which he said often favor foreign corporations over local entrepreneurs. Bouchard suggested reforms to give workers more time to learn French to improve integration and recommended prioritizing core government services such as health and education, describing the civil service as bloated and extending beyond its main responsibilities.

Both Lutfy and Bouchard cautioned that continued regulatory and fiscal challenges are driving investment and corporate expansion outside Quebec. Groupe Dynamite operates in over 50 provinces, states, and countries, yet Lutfy described Quebec as “the most onerous jurisdiction to do business in” and less attractive compared to other markets worldwide. Likewise, Couche-Tard, with over 17,000 international stores, is underinvested in Canada relative to its revenues due to the complex regulatory environment.

The business leaders acknowledged the risks in publicly voicing their concerns but emphasized the need for transparent dialogue. “If we don’t speak up … we’ll just continue to complain amongst ourselves,” Bouchard stated, calling the current situation “intolerable” and urging decisive action from Quebec’s next government.