To go back to the example of Ontario, which eliminated the tax credit in 2005, this had a very serious impact on the level of available venture capital. As of 2005, the amounts available in Ontario dropped precipitously. Currently, even though Ontario has a significantly higher GDP than Quebec, both provinces are at the same level as compared to the Canadian average, that is to say that both Quebec and Ontario have 36% of Canadian venture capital reserves. In short, both provinces are at the same level, even though Quebec has a far lower GDP. So that had a considerable effect on the availability of venture capital in Ontario. I would expect that the effect will be the same on the venture capital available in Quebec.
On November 18th, 2013. See this statement in context.