22:59:09 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,214,075,936
Close 2024-01-31 C$ 62.87
Market Cap C$ 76,328,954,096
Recent Sedar Documents

Post says Scotiabank sees Quebec narrow the GDP gap

2024-02-01 08:53 ET - In the News

The Financial Post reports in its Thursday edition that Quebec's gross domestic product per capita, or standard of living, has been lower than its main trading partners, Ontario and the United States, for the past 40 or so years. The Post's Marisa Coulton writes that GDP per capita currently hovers at around $49,000 in Quebec and $54,000 in Ontario. Premier Francois Legault says he has managed to shrink the gap from 16.1 per cent in 2018 to 13.5 per cent in 2022. Some, however, question whether the gains so far are sustainable. The recent narrowing may have more to do with an economic slowdown in Ontario than with strides in Quebec, said Jonathan Deslauriers at the HEC Montreal business school. In the mid-20th century, Quebec's economy was mostly centred around clothing and textiles. Ontario, however, was more focused on the automotive sector and steel. The upside is that in 2022, the average price of a Quebec home was $483,000 compared with $931,000 in Ontario. Experts, including representatives of Scotiabank, recommended that Quebec invest more in education and training, foster a competitive environment, review the tax system on individuals and businesses, and introduce incentives to encourage business investment.

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