MONTREAL – When most CEOs make a speech to a body like the Montreal Board of Trade, it’s usually to sing the praises of their own company – or to demand something be done by government to alter this or that within their own market or industry.
Rare is the CEO to come right out and make a strong political stand, but Cogeco CEO Louis Audet did just that Wednesday afternoon, attacking the provincial government for its actions (and inaction) and challenging business leaders to grab the bull by the horns and help drag the province into the future – and back into growth.
“We are all painfully aware of the fact we are not creating enough wealth in Quebec,” he told the room full of business leaders in French (the company provided an English translation). “A look at the per capita GDP statistics for 2012 tells us that out of Canada’s 13 territorial jurisdictions, Quebec ranked 10th, at $44,428. If we include the U.S. states, we came in 37th out of 64.”
Despite that poor showing, “as a society, we keep on taking certain decisions that do us enormous economic harm,” Audet added. “I’m not a politician, but I can’t help thinking that the proposed ‘Quebec Charter of Values’ is a project that is damaging to our economy and, ultimately, to our ability to fund the social programs that our elected officials will want to put forward, regardless of which party is in power.
“(I)ndustrialized countries that do not favour immigration are condemned to negative economic growth. Now, imagine how the message of the Values Charter is playing in other countries! It is being perceived as a strategy of exclusion fuelled by xenophobia – the opposite of our multicultural, open society. It is not the sort of message likely to attract the immigrants needed to ensure economic growth, as some countries known for practicing a variety of exclusionary methods—Japan or Russia, for example—have learned the hard way.”
The ill-conceived Charter, he added, is just going to harm the Quebec economy and its people. “This is no longer about debating the merits of laïcité – secularism,” he said. “This is no longer about Quebec society’s flagging self-confidence, or the fear of otherness. The discourse of division and exclusion that this proposed legislation has brought about is worrisome, and it runs counter to the values of multiculturalism and tolerance that have always been hallmarks of Quebec society. The contrast between the government’s slogan ‘A Quebec for all,’ and the proposed Charter lays bare an attitude of cynicism—and intimidation, even—that our society cannot tolerate any longer.”
“I call upon the Government of Quebec to find the political courage to put an end to this process, which is humiliating both for long-time Quebecers and for those who have arrived more recently.” – Louis Audet
Audet said he doesn’t know, exactly, what problem the proposed Charter is attempting to solve, but the profound backlash against it shows it must be abandoned. “I call upon the Government of Quebec to find the political courage to put an end to this process, which is humiliating both for long-time Quebecers and for those who have arrived more recently.”
Audet then turned his attention to the prevailing Quebec societal values identified by a recent poll the company paid for, and then challenged the business community to make – and demand – change.
Done by the CROP polling firm in October 2013, the new study, called “Economic solidarity in Quebec: Attitudes and expectations with regard to governments and businesses” showed while 50% of Quebeckers recognize the value of private enterprise, some the other half believe businesses do nothing but damage society.
The report, said Audet, showed Quebeckers generally break down within four groups of prevailing attitudes:
“Progressives believe that equalizing wealth and improving access to services is the principal role of government. At the same time, they feel that private businesses aren’t at all harmful to society—quite the contrary,” he said.
“Economic Conservatives think that when private enterprise creates wealth, all of society benefits. In their view, entrepreneurial initiatives have priority, and governments create dependency.
“The Ideological Left says that in times of socio-economic difficulty, the most important thing is to preserve social gains at all costs. The priority should be equal distribution of wealth. This group believes that very little corporate wealth trickles down to society, and that companies are harmful to society.
“Darwinists think that companies are harmful and that little of their wealth is transferred to society as a whole. Their philosophy is that one must succeed without reliance on government, and that the only way to do that is through scheming and disobedience,” he explained.
Going a step further, he added “the conclusion is that under the present conditions, it is impossible for Quebec to move forward at its proper pace. If one half of society is continually called upon to pull the other half upward, we will never succeed, given the context of global competition, which is here to stay.
“Seen in that light, the concept of the ‘Prosperity Campaign’ put forward by the Conseil du Patronat is easier to understand. Unfortunately, it would appear there are still not enough executives on board with this idea to finance the three-year advertising campaign that has been envisioned to change people’s attitudes. The Conseil du Patronat’s campaign is necessary, and Cogeco supports it. I urge you to do the same.”
That’s not enough, however. With half of the province’s population showing a “profound misunderstanding of just how much economic ground Quebeckers, rich and poor alike, have lost and of how the world economic system functions… I conclude that there is an urgent need to introduce (some would say reintroduce) a mandatory ‘home economics’ course in every high school in Quebec,” Audet added.
His outline for the course would be to teach:
– The need for households, businesses and governments to live within their means.
– A moderate debt load as a tool for well-being.
– Businesses as generators of jobs and opportunities, for individuals and their families.
– The requirement for profits to allow companies to invest and to create even more employment.
– The importance of healthy capital markets as sources of additional funding for companies to create jobs, and as a haven for individuals’ savings as they look toward their retirement years.
“Naturally, as businesspeople, all this is obvious to you. But as I’ve said, it apparently is not obvious to one in two Quebecers. In this respect, perhaps it is too late for our generation; but it certainly is not too late for the next,” said Audet.
“I therefore ask you to echo my message. The Quebec Ministry of Education must act.”
A strong, necessary stance from a Quebec business leader. We hope to see more of this.
