Thank you, Madam Speaker.

Honourable senators, I rise to share some of the results of an analysis recently published by the Institut du Québec in collaboration with Montréal International and the Chamber of Commerce of Metropolitan Montreal.

Released last month and entitled Comparer Montréal, this study assesses the state of the city and compares it with 14 other North American cities of similar size and importance, analyzing six indicators, including quality of life, economic activity, economic growth and the environment.

The biggest takeaway from this study is that Montreal is top class when it comes to quality of life and stands out for its affordable housing, with the proportion of people spending 30% or more of their income on housing lower than in other cities. It also has the lowest percentage of its population living below the poverty line. Montreal, along with Toronto and Vancouver, fill the top three positions for the lowest homicide rates and have the best and lowest income inequality results.

As the report suggests, quality of life is a key factor in reinforcing the city’s role as an economic locomotive, improving its attractiveness to further entice companies, talent and immigrants to ensure its continued growth. On the economic front, Montreal remains in the bottom half of the peloton, but there are encouraging signs. The report puts forward two major items that should be prioritized to increase economic activity.

First, we must improve our productivity. This is something I’ve said many times before, and it was also one of the issues raised in our recent Banking Committee report on the Canadian economy. This is not unique to Montreal. Canada has a major productivity deficit compared to the U.S.

Second, despite being an attractive destination for post‑secondary education with world-class institutions in English and French, Montreal needs to increase the rate of educated and skilled workers. On that note, Montreal did crack the top five with respect to university graduates in science, technology, engineering and mathematics, which certainly helped the city inch up two spots to reach the sixth position for innovation.

While the study paints an encouraging picture, it is clear that more can be done. The report proposes some courses of action to improve Montreal’s economy and ensure that Montreal reaches its full potential.

Honourable senators, I am delighted with Montreal’s performance, which positions it as a destination of choice for entrepreneurs, immigrants and foreign capital. Montreal is still a very livable city.

Thank you. Meegwetch.