30 October 1995 was the day Canada almost tore itself in half[1]. Within hours of the vote capital started to exits, the banks shut down domestic FX trading to stop the bleeding, the loonie slumped, and Quebec-listed stocks went to shit.[2] ofc, ottawa responds by slashing transfers and public spending in the 1995-97 budgets. [3]They literally said, very loudly to province “do more with less.” Health care, social services, and infrastructure entered a period of massive of under investment, while provinces raised tuition, tolls, and property taxes to plug the gap. That all started the Clarity Act fight[4].
As a Canadian, I left Canada because my countrymen insist on shooting us in the foot, mostly in my opinion, because Canadians don't have enough to worry about on average. It seems we are hell bend on continuing the trend. It seems Canadians will do anything to avoid building a cohesive country... 30 October 1995 flipped Canada from build mode to the fetal position, and we're still in it.
[1]https://en.wikipedia.org/wiki/1995_Quebec_referendum
[2]https://papers.ssrn.com/sol3/papers.cfm?abstract_id=841344