Montreal (Qc) CANADA - File Photo - Dec 5th 1996 -
Jean Chretien (L), ICAO President (L) and
Lucien Bouchard, Leader Parti Quebecois (from Jan 29, 1996 to March 2, 2001). seen in a May 1996 file photo at ICAO (OACI) New headquarter opening in Montreal.
After the Yes side lost the 1995 referendum, Parizeau resigned as Quebec premier. Bouchard resigned his seat in Parliament in 1996, and became the leader of the Parti Québécois and premier of Quebec.
On the matter of sovereignty, while in office, he stated that no new referendum would be held, at least for the time being. A main concern of the Bouchard government, considered part of the necessary conditions gagnantes ("winning conditions" for the feasibility of a new referendum on sovereignty), was economic recovery through the achievement of "zero deficit". Long-term Keynesian policies resulting from the "Quebec model", developed by both PQ governments in the past and the previous Liberal government had left a substantial deficit in the provincial budget.
Bouchard retired from politics in 2001, and was replaced as Quebec premier by Bernard Landry.