Blog – How is the Middle Class doing in Canada – October 2022
Justin Trudeau and his team keeps saying they are making things more affordable. The problem is facts show many households no matter their income is struggling with high cost of living. Trudeau refuses to either canceled the carbon tax or pause the hikes.
Trudeau told the world in 2015 that Canada should be know for its resourcefulness. The problem since 2016 the standard of living in Canada has decline. Trudeau’s deficits did little to address issues with productivity, innovation, skills gap, and supply chain. Trudeau could have made Canada natural resources sector a global leader but chose to expand government including social programs. https://www.slideshare.net/paulyoungcga/2019-election-world-economy-slow-growth-canada-july-2019 or https://www.slideshare.net/paulyoungcga/gdp-and-economic-analysis-canada-and-the-world-july-2022pptx
The middle class has not seen issue with both cost of living and housing in over 40 years. Trudeau refuses to acknowledge there are issues. Trudeau has decided to throw more gasoline on the fire by rushing out programs like dental care without proper checks and balances.
Immigration is also a mess. Sean Fraser has done little to address issues with previous audit reports as it relates to immigration fraud.
Chrystia Freeland talks about the green transition. The green transition has been happening for years. Canada could have played a bigger part but Trudeau’s policies have done little to support the circular and green economies – (2015 - https://www.slideshare.net/paulyoungcga/canada-green-technology-stats or https://www.slideshare.net/paulyoungcga/mitigation-of-climate-change-green-and-circular-economy-june-2022pptx
2. PAUL YOUNG - BIO
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos
3. AGENDA
TI General Median Income
Job Quality
TD and Automation
Innovation
Manufacturing
Natural Resources
Cost of Living
Housing
Transition to the green and circular economy
PRESENTATION TITLE 2/11/20XX 3
7. AUTOMATION AND JOBS
PRESENTATION TITLE 2/11/20XX 7
Automation and
Jobs.pdf
• Many jobs could face automation -
https://www.saviom.com/blog/12-jobs-that-
robots-ai-will-replace-in-the-future-and-12-
that-wont/
• There are skills gaps issues -
https://canada.constructconnect.com/dcn/
news/labour/2021/10/no-simple-answer-to-
solve-the-massive-skilled-labour-shortage-
canadata-panel
• Government jobs continue to outpace
other sectors in terms of growth -
https://www.slideshare.net/paulyoungcga/how-
to-fix-the-goverance-model-for-the-public-
sector-government-249941842
• Canada should be leading the world when
it comes to development of its natural
resources in a sustainable way -
https://www.slideshare.net/paulyoungcga/what
-is-next-for-canada-and-worlds-natural-
resources-250492008
8. TD / AUTOMATION
PRESENTATION TITLE 2/11/20XX 8
pandemic_digitalizati
on.pdf
Mission Accepted: Deploying Digital Transformation
To say the past 12 months have been tough for manufacturers is an understatement.
COVID-19 lockdowns and restrictions continued to impact operations.
Buying habits and customer expectations evolved.
Supply chains started crumbling.
Hackers recognized manufacturers as a prime target.
My work: https://www.slideshare.net/paulyoungcga/digital-economy-adoption-by-small-to-mediumsize-enterprises
9. TD AND INNOVATION
PRESENTATION TITLE 2/11/20XX 9
Canadas_Innovation_
Challenge.pdf
Blog – New Normal
The new normal is here to stay - Link:
https://www.linkedin.com/pulse/blog-small-medium-size-
manufacturers-expecting-growth-paul-young/?published=t
10. MANUFACTURING –
CANADA
PRESENTATION TITLE 2/11/20XX 10
https://financialpost.com/news/economy/how-canada-can-get-back-some-of-its-former-glory-as-a-maker-of-
things-the-world-wants-to-
buy?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1626082199
This is how you fix the issues:
- eliminate the carbon taxes
- Streamlining of regs
- fix the tax policies
- Support the circular economy through policies that benefit everyone
https://www.slideshare.net/paulyoungcga/manufacturing-canada-analysis-and-commentary
11. NATURAL RESOURCES
PRESENTATION TITLE 2/11/20XX 11
There needs to be a drastic change in federal policies to better support the natural resources sector. I estimate
current tax and regulatory policies are costing the federal government between $10B to $16B in loss tax
revenues.
Canada has seen lower natural resources as % of GDP than Australia.
Trudeau told world in 2016 that Canada should be know for its resourcefulness. Trudeau could have made
Canada a global leader in sustainable natural resources development but chose to push his social agenda.
https://www.slideshare.net/paulyoungcga/what-is-next-for-canada-natural-resources-sector-september-
2022pptx
15. BMO – CONSUMER
PRICE INDEX
Source –
https://economics.bmo.com/en/publications/detail/ae97550
d-8a18-46fc-bb31-ca013cee5f45/
BMO - Inflation - CPI
- Canada - July 2022.pdf
Canadian CPI (Aug.)
— Another Step Down a Long Road.pd
18. TD BANK AND INFLATION
TD and Middle
Claass.pdf
19. MIDDLE CLASS 2015 ELECTION PROMISE
PRESENTATION TITLE 2/11/20XX 19
• Carbon Tax “The federal government’s own impact analysis shows that Trudeau is increasing costs. Trudeau promised not to do that, but he
lied to us, plain and simple. And Canadians will be left paying the price.” - https://www.rcinet.ca/en/2020/12/23/liberal-plan-to-reduce-
emissions-will-hurt-lower-middle-income-groups-critics/ or https://torontosun.com/opinion/columnists/terrazzano-trudeaus-second-carbon-
tax-means-higher-costs-for-canadians
• Wealthy “The report, “Measuring Progressivity in Canada’s Tax System,” says while the top 20% of income-earning families in Canada
making more than $206,267 annually pay almost two-thirds of federal and provincial income taxes (63.2%), and more than half of all taxes
(54.7%), their share of total income is only 44.1%.” - https://torontosun.com/opinion/columnists/goldstein-make-the-rich-pay-new-reports-
show-in-canada-we-already-do
• Shrinking middle class - https://theorca.ca/visiting-pod/the-shrinking-middle/
• Middle class continues to follow behind the cost of living - https://ca.news.yahoo.com/primerica-study-finds-income-falling-120400722.html
• Public sector - https://torontosun.com/opinion/columnists/gunter-the-public-sector-fared-very-well-during-lockdown
22. FOOD PRICES
AND
CONSUMER
PRICES
• Produce Price index keeps rising
• Gasoline / transportation continue to
rise due to factors like carbon tax and
fuel standard tax
• Canada needs to build a resilient
supply chain
• Farmers continue to be hammer with
higher costs
•
• https://www.slideshare.net/paulyoung
cga/retail-sales-canada-may-2021
PRESENTATION TITLE 2/11/20XX 22
24. GREEN AND CIRCULAR ECONOMY
PRESENTATION TITLE 2/11/20XX 24
Blog - RBC report says $2 trillion needed to reach 2050 target of net zero economy
A new report says the country will need roughly $2 trillion to put the economy on a path to net-zero emissions in 30 years, including government spending
on things like skills training and backstops to prod the necessary investments.
The report from RBC Economics estimates governments, businesses and communities would have to spend at least $60 billion annually to cut emissions by
75 per cent of current levels and reach the 2050 target of net zero.
Money will be needed to build out the electricity system to handle the expected rise in electric vehicles, which will also need some subsidies to get them off
assembly lines and onto Canadian roads, the report says.
There will also have to be investment in retrofitting old buildings faster than current federal plans predict, retraining 100,000 workers with new skills for
fast-growing green sectors, and skills training programs to add 200,000 more into the labour force by 2030.
Government:
The government has increased its emissions-reduction targets for 2030 as required by the climate agreement.
Internal government documents suggest the Liberals are acutely aware of the cost to shift the country to net zero and have looked to push banks and other
private sector investors to help with funding and financing.
But the report also warns of moving too fast, too soon. If there was a sudden and severe decline in oil and gas production, government revenues would fall
by about $8 billion annually, which the report says could hamper, not help, the transition.
https://www.canadianmanufacturing.com/manufacturing/rbc-report-says-2-trillion-needed-to-reach-2050-target-of-net-zero-economy-274560/
My work: https://www.slideshare.net/paulyoungcga/how-to-mitigate-the-threats-of-climate-change-october-2021
Net_Zero_Master.pdf
25. SUMMARY
• % of total employment making above wages has grown since Nov/15. The problem is that there is nearly
over 1M jobs in sectors like hospitality and retail. Both retail and hospitality sector continue to be
transformed as part of the new normal
• The shortages of key skills, especially in areas of STEM –
• Middle class is still facing many issues like high costs of housing.
• Failure of Trudeaunomics – https://www.slideshare.net/paulyoungcga/justin-trudeau-era-of-canada-october-2015-to-
august-2022pptx
• There are many risks impacting the global economy. The ability of all levels of government and the private sector to
mitigate risks will be key to building an inclusive and sustainable economy.
PRESENTATION TITLE 2/11/20XX 25
Blog – How is the Middle Class doing in Canada – October 2022
Justin Trudeau and his team keeps saying they are making things more affordable. The problem is facts
show many households no matter their income is struggling with high cost of living. Trudeau refuses to
either canceled the carbon tax or pause the hikes.
Trudeau told the world in 2015 that Canada should be know for its resourcefulness. The problem since
2016 the standard of living in Canada has decline. Trudeau’s deficits did little to address issues with
productivity, innovation, skills gap, and supply chain. Trudeau could have made Canada natural
resources sector a global leader but chose to expand government including social programs.
https://www.slideshare.net/paulyoungcga/2019-election-world-economy-slow-growth-canada-july-
2019 or https://www.slideshare.net/paulyoungcga/gdp-and-economic-analysis-canada-and-the-world-
july-2022pptx
The middle class has not seen issue with both cost of living and housing in over 40 years. Trudeau
refuses to acknowledge there are issues. Trudeau has decided to throw more gasoline on the fire by
rushing out programs like dental care without proper checks and balances.
Immigration is also a mess. Sean Fraser has done little to address issues with previous audit reports as it
relates to immigration fraud.
Chrystia Freeland talks about the green transition. The green transition has been happening for years.
Canada could have played a bigger part but Trudeau’s policies have done little to support the circular
and green economies – (2015 - https://www.slideshare.net/paulyoungcga/canada-green-technology-
stats or https://www.slideshare.net/paulyoungcga/mitigation-of-climate-change-green-and-circular-
economy-june-2022pptx
R P-2223-014-S --hou
se-pr ice-assessment-update--evaluation-pr ix-pr opr ietes-mise-jour _en.pdf
CEOs ar e convinced a
r ecession is coming, but small businesses ar en't so sur e KPMG.pdf
Canadian labour
shor tage is a long-ter m challenge, R S M Canada r epor t says - Canadian Manufactur ing.pdf
Quick guide for
Canadian manufactur er s on cr afting effective invoice and expense policies - Canadian Manufactur ing.pdf
Indigenous food
sover eignty r equir es better and mor e accur ate data collection - Canadian Manufactur ing.pdf
Hur r icane Ian capped
2 w eeks of extr eme stor ms ar ound the globe Her e’s w hat’s know n about how climate change fuels hur r icanes - Canadian Manufactur ing.pdf
Middlec Class and
Canada - October 2022.pptx
Canada's labour
shor tage w ill be a long-ter m challenge for the economy, new r epor t finds.pdf
Household Income -
Canada - 2022.pdf
Dental cheques, r ent
suppor t w ould dr ive up inflation w ithout offer ing cost-of-living r elief, Conser vatives say National Post.pdf
GUES T OP-ED The
gover nment’s defence of their car bon tax is indefensible Tr ue Nor th.pdf
Yes, payr oll taxes ar e
taxes. No, Tr udeau shouldn't be r aising them - Ener gy New s for the Canadian Oil & Gas Industr y Ener gyNow .ca.pdf
Tr udeau gover nment
not ser ious about making life mor e affor dable - L ake S uper ior New s - Tr oy Media.pdf
Canada’s Wealthiest
Households S aw Their Net-Wor th Fall $200k, $78k Was R eal Estate - Better Dw elling.pdf
Posthaste Why
Canada needs to come out 'full guns blazing' on housing Financial Post.pdf
Jobs That Will Be
Needed in Canada in the Futur e.pdf
Welcome to the
automation economy - Pr otocol.pdf
Employer s, Take Note
New R ules For For eign Wor ker s And Tr avel To Canada - Employee R ights_ L abour R elations - Canada.pdf
Update on
Per for mance R esults.pdf
1. Inflation / Middle Class – https://nationalpost.com/news/politics/mps-debate-second-reading-
of-dental-care-targeted-inflation-relief
2. Carbon tax - https://tnc.news/2022/10/01/tobin-carbon-tax/
Summary:
Inflation continues to be an issue for many Canadians.
Green inflation continues to key part of the rise of inflation
More and more people are being left out of the housing market
https://www.slideshare.net/paulyoungcga/cost-of-living-canada-december-2021
Summary:
Inflation continues to be an issue for many Canadians.
Green inflation continues to key part of the rise of inflation
More and more people are being left out of the housing market
https://www.slideshare.net/paulyoungcga/cost-of-living-canada-december-2021
Summary:
Inflation continues to be an issue for many Canadians.
Green inflation continues to key part of the rise of inflation
More and more people are being left out of the housing market
https://www.slideshare.net/paulyoungcga/cost-of-living-canada-december-2021