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Yet another report has been published that details Montreal’s economic decline versus other cities in Canada. It’s a familiar story by now.

The latest study by the recently formed Institut du Québec research group raises the usual alarm bells. While Montreal remains the engine that drives the province, it underperforms in a host of ways when you measure it against the rest of the country.

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If the metropolitan region had simply grown at the average rate of economic growth in Canada over the last 25 years, per capita income would be $3,450 higher, according to the research done in conjunction with the Conference Board of Canada and HEC Montreal business school.

The untold story is the cumulative effect of decades of chronic underperformance. What would Montreal look like today if it had kept pace?

The Montreal region now has a lower per capita income than such metro areas as Quebec City, Halifax and Ottawa-Gatineau, not to mention such major centres as Toronto, Calgary and Vancouver.