The Quebec government has just announced its intention to merge the Société générale de financement (SGF) and Investissement Québec. However, nothing indicates that their respective mandates will be modified. The debate that has begun over this reform offers the perfect occasion for evaluating the historical results of the SGF. Doing so will clarify why it is important to redefine the mandate of the government corporation that will result from this merger. The province of Quebec will benefit if the government leaves the financial risks associated with business development to the private sector while guiding economic development through an appropriate regulatory framework.
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