The Province of Quebec has high debt, low economic growth, and a gloomy economic outlook. More gubmnt spending will not turn things around, and a permanent change in the economic climate will (a) take time to create and (b) not be believed until it has persisted for some time.
A sad tale of woe. And this summary from Maclean's puts it well:
For decades Quebec businesses have been plagued with repeated bouts of separation anxiety and the constant irritant of the province’s language police. The province punishes businesses with some of the highest taxes in North America, yet it has rung up a $2.4-billion deficit and a debt load equal to half its GDP, the highest in the country. When not arbitrarily overriding the rights of shareholders to protect underperforming Quebec companies, the government has flip-flopped on its attitude toward resource development. In short, it’s an economic environment layered with uncertainty, instability and state interference.
Regime uncertainty is probably one of the worst things that can happen to an economy. If entrepreneurs have little confidence in what they can count on in the way of regulations, gubmnt policies, and economic climate, they will choose safer investments and/or business ventures in other jurisdictions.
The only hope for Quebec is to create an economic climate that will promote economic growth and then stick with that climate for a number of years. Undoing regime uncertainty cannot be done quickly or easily.