I did not need a report to know that living standards are heading in the wrong direction under Trudeau.
QuoteCanadians are currently experiencing one of the worst and longest declines in their standard of living in decades, according to a new report by the Fraser Institute.
"Despite claims to the contrary, living standards are declining in Canada," study co-author Grady Munro says in the report by the fiscally conservative think tank, "Changes in Per-Person GDP (Income): 1985 to 2023."
The study says that from April 2019 to the end of 2023, inflation-adjusted, per-person GDP in Canada, a broad measure of living standards, fell from $59,905 annually to $58,111 — a 3% loss and the third-steepest decline in almost 40 years.
Only a 5.3% drop in real GDP Canadians experienced from 1989 to 1992 and a 5.2% drop from 2008 to 2009 were more severe.
The study also says the latest decline in living standards which lasted for 18 fiscal quarters from 2019 to 2023 is already the second-longest in almost 40 years, surpassed only by one that lasted 21 fiscal quarters from1989 to 1994, "and if not stabilized in 2024, this decline could be the steepest and longest in four decades."
A chart in the Liberals' 2022 budget projected that Canada was in danger of experiencing the lowest annual growth in real GDP per capita between 2020 and 2060 among 16 comparable countries that are members of the Organization for Economic Co-operation and Development, as well as lower growth than the OECD average and lower than every other member of the G7 — U.S., U.K., Germany, France, Italy and Japan.
"Most Canadian businesses have not invested at the same rate as their U.S. counterparts. Unless this changes, the OECD projects that Canada will have the lowest per-capita GDP growth among its member countries."
The problem, critics say, is that in the Liberals' 2024 budget released last month, its major themes — higher spending, higher deficits, higher debt and higher capital gains taxes — are all sure-fire ways to reduce business confidence in the economy, discouraging private sector investment aimed at increasing productivity and innovation.
https://torontosun.com/opinion/columnists/goldstein-canadians-standard-of-living-is-on-decline-report-says
Quote from: Brent on May 16, 2024, 03:14:03 PMI did not need a report to know that living standards are heading in the wrong direction under Trudeau.
https://torontosun.com/opinion/columnists/goldstein-canadians-standard-of-living-is-on-decline-report-says
One might assume Trudeau used Hugo Chavez as his governing template.
Quote from: Thiel on May 16, 2024, 05:20:33 PMOne might assume Trudeau used Hugo Chavez as his governing template.
Or Josef Stalin.
Quote from: Brent on May 16, 2024, 03:14:03 PMI did not need a report to know that living standards are heading in the wrong direction under Trudeau.
https://torontosun.com/opinion/columnists/goldstein-canadians-standard-of-living-is-on-decline-report-says
I'll be back for a holiday next month and to take my sons back with me. I doubt the country has improved or will either.
Canada spends more on debt service charges than we do on health care. Conman Carney is making it worse.
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Payroll employment in Canada was revised down by 60,000 people in February.
Canada has produced zero net jobs since Carney was appointed pm.
Canadian oil and gas producers have anticipated higher profits this year as prices have surged due to the Iran conflict, but major industry players are still holding off on investing in new major capital projects amid ongoing concern about perceived regulatory and policy barriers in this country.
Recently, at a conference in Toronto, Lisa Baiton, CEO of the Canadian Association of Petroleum Producers (CAPP), said Ottawa is still "talking about a carbon tax when no other producing and exporting nation does that to their producers."
She went on to say that instead of Canada seizing the moment given the current global energy crisis, "we are focusing on things that add cost and make us less competitive."
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An activist group is calling for a massive expansion of Canada's permanent resident program.
The Migrant Rights Network is demanding the federal government give the 1.9M temporary workers in Canada the ability to become Canadian citizens, regardless of their "language proficiency and education credentials."
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The Liberals knew what would happen.
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