The document provides an economic scorecard for the Liberal Party of Canada by Paul Young, a CPA and expert in various fields including academia, risk management, and public policy. It analyzes key economic indicators such as GDP, jobs, wages, competitiveness, and the fiscal management of the Liberal government. The analysis finds that the Liberals have failed to live up to many of their 2015 election promises and have not improved Canada's economic performance or global competitiveness compared to the previous Conservative government.
Liberal Party of Canada – Economic Scorecard Analysis
1. Liberal Party of Canada –
Economic Scorecard -
PAUL YOUNG CPA, CGA
JUNE 18, 2018
2. Paul Young - Bio
• CPA, CGA
• Academia (PF1, FA4 and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Financial Solutions
• SME – Supply Chain Management
Contact information:
Paul_Young_CGA@Hotmail.com
3. Summary
Government role is to support social programs as well as policies that will
support economic growth
The Liberals since they took office their focus has been on social issues
which are being driven by agenda 2030 -
https://www.slideshare.net/paulyoungcga/what-is-agenda-2030
Trudeau said he would run modest deficits which he has not
Trudeau has failed on major planks of his 2015 election campaign
Trudeau has caused tensions with countries like India, Australia, China,
Philippines, etc.
4. Agenda
Summary
GDP by Decade
GDP Analysis
Jobs Analysis
Wage Analysis
Middle Class
Competitiveness
Small Business
Goods to Market
Fiscal Management
Environment
Open and Transparent Government
Military
Veterans
Immigration
Foreign Affairs
6. GDP Analysis
Source – Stats Canada and http://www.gbm.scotiabank.com/English/bns_econ/forecast.pdf
• Liberal GDP will average 2.1% for their
mandate
• Liberals stimulus did nothing for the economy
-
https://www.forbes.com/sites/peterferrara/201
2/07/12/obamanomics-the-final-nail-in-the-
discredited-keynesian-coffin/#3249787fba7d
• Liberals have no plans to balance the budget
7. Job Analysis
Source – Stats Canada
• More people are working P/T jobs – Bill Morneau told people to get used to Job Churning -
http://www.metronews.ca/views/winnipeg/urban-compass/2016/10/24/finance-minister-bill-
morneau-does-not-understand-job-churn.html
• Liberals have dropped Goods Producing Jobs to 21.2% of Total Jobs
• Manufacturing and construction jobs have been added
• Natural Resources sector continues to bleed jobs
8. Wages
Source – Stats Canada
Wages – Canada
1. Harper had it right about wages -
http://business.financialpost.com/opinion/wi
lliam-watson-turns-out-the-harper-
government-was-actually-terrific-for-wage-
growth
2. https://globalnews.ca/news/3531614/averag
e-hourly-wage-canada-stagnant/ - Liberals
campaign was they were going to improve
wages - https://www.liberal.ca/wp-
content/uploads/2015/10/New-plan-for-a-
strong-middle-class.pdf
9. Middle Class
Trudeau’s GDP and Job growth are also not accurate in
terms of health of the economy -
https://www.slideshare.net/paulyoungcga/real-truth-
canada-and-united-states-gdp-january-2018
Canada is less competitive today than it was when
Harper left office -
https://www.slideshare.net/paulyoungcga/competitiven
ess-canada-vs-other-countries-january-2018
Harper had the best middle class in the world, right?
https://www.youtube.com/watch?v=yOl37VcG89c
(Trudeau has failed the middle class)
https://www.slideshare.net/paulyoungcga/middle-class-
canada-february-2018
80% of the Middle class are paying higher taxes under
the Liberals -
https://globalnews.ca/news/3769136/taxes-middle-
class-liberals/
This video is from a few years
back when CPC were in Power
10. Competitiveness
Source -
https://twitter.com/BloombergCA/status/966029218692980
737
Morneau and his team are doing the following:
-Hike payroll taxes (CPP)
-Introducing Carbon Tax (Regressive tax)
-Raising the cost for business due to longer regulatory
process
-Failing to complete trade deals
Canada is less competitive today!
https://www.slideshare.net/paulyoungcga/competitiven
ess-canada-vs-other-countries-january-2018 or
https://www.slideshare.net/paulyoungcga/capital-
investment-and-corporate-taxation-canada
Source -
https://www.thestar.com/news/canada/2018
/02/27/federal-budget-fails-to-help-
canadian-businesses-stay-competitive-
critics-charge.html
11. Small Business
“Canada’s minister of small business and tourism has acknowledged that the
Liberals should have done their homework a bit better before proposing a series of
controversial changes to the tax code last summer.
“Perhaps more information was necessary,” Bardish Chagger told The West Block‘s
Vassy Kapelos during an interview this weekend.
Small business is the back bone of the economy -
https://www.ic.gc.ca/eic/site/061.nsf/vwapj/ksbs-psrpe_june-
juin_2016_eng.pdf/%24file/ksbs-psrpe_june-juin_2016_eng.pdf
The new income sprinkling reasonability test will be a nightmare to enforce by
CRA - http://www.newswire.ca/news-releases/despite-some-improvements-new-
income-sprinkling-rules-still-a-lump-of-coal-for-small-business-663960463.html
Small business tax rate won’t matter if there is businesses shut down either
through Minimum Wage hikes (http://ottawacitizen.com/news/local-news/black-
tomato-to-close-after-23-years-owner-blames-minimum-wage-hike) or high
hydro rates (http://business.financialpost.com/opinion/a-whole-new-way-screw-
up-hydro-is-underway-in-ontario-and-b-c) or NAFTA Failings
(https://globalnews.ca/news/3918573/canadian-business-u-s-nafta/)
Chagger’s riding is home to start ups -
https://techvibes.com/2017/11/23/kitchener-waterloo-is-canadas-fastest-
growing-market-for-tech-talent
CFIB Survey shows small business are not happy with the new income sprinkling
and passive investment rules - https://insurance-journal.ca/article/small-
businesses-remain-very-concerned-about-proposed-tax-changes-says-cfib-survey/
The bigger issues is CRA will need resources which means other areas will be
impacted, like tax havens or transfer pricing or R&D credits -
https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/tax/en_TP_OECD
_Country_Profiles_AODA.pdf or
http://www.macleans.ca/politics/ottawa/ottawa-claims-it-will-reap-25-billion-
from-tax-cheats-thats-wishful-thinking/ (You need resources including treaties to
enable closing down tax havens)
12. Blog – Goods to Market
Drillers are moving capital to USA as the USA is open more for business than Canada -
https://www.canadianmanufacturing.com/operations/exodus-canadian-drillers-move-rigs-south-chase-better-
prospects-texas-207499/
Approving and Building pipelines are two different events - https://globalnews.ca/news/3996008/bc-
government-strike-another-blow-to-stop-kinder-morgan-pipeline-expansion/
Trade Wars with the USA - http://business.financialpost.com/news/economy/forget-nafta-the-trade-war-with-
canada-has-already-started
No Software lumber deal despite having two years to get a deal done - https://ipolitics.ca/2018/01/29/give-us-
softwood-deal-well-drop-wto-case-canada-tells-u-s/
Lack of capital investment into Ports/Rail lines - https://globalnews.ca/news/3987860/port-of-hamilton-sees-
record-year-for-agricultural-shipments/. Hamilton had a great year, but that was due to investments made by
previous governments
More goods like oil are moving by rail. Rail is much more dangerous to transport oil than pipelines -
http://www.statcan.gc.ca/daily-quotidien/180131/dq180131c-eng.htm
Manufacturing continues to struggle with high hydro rates, more regulations and more taxes – The only reason
that growth was increased in November 2017 was due to lumber, petroleum and metal fabrication production
being up. https://www.slideshare.net/paulyoungcga/manufacturing-canada-november-2017
Trump continues to move to low tax and low regulation as compare to Trudeau that force carbon taxation,
hikes to CPP, small business tax reforms and more regulations -
https://www.slideshare.net/paulyoungcga/competitiveness-canada-vs-other-countries-january-2018
Canadian Manufacturing Association also said Harper’s policy were right in terms of supporting manufacturing
through innovation funds, tax policies, trade policies, etc. http://mb.cme-mec.ca/?lid=YXN82-W3NF7-
IC132&comaction=show&cid=3CWP8-FKASM-JYNFE
Your so called economic team is made up liberal party supporters as such is weak.
https://www.liberal.ca/liberals-unveil-membership-of-economic-council-of-advisors/
Liberal Party of Canada 2015 Election
Promise
https://www.liberal.ca/realchange/getting-
canadian-goods-to-market/
“Trade is vital for our economy. It opens
markets, grows Canadian businesses, and
creates good-paying middle class jobs –
jobs that pay wages that are 50 percent
higher than industries that are not export
intensive. That is good news for the middle
class and the communities they call home.
Stephen Harper’s approach to trade,
however, has failed. His Conservative
government has recorded the largest trade
deficit in Canadian history, and Canadians
are paying the price in lost job
opportunities.
While Stephen Harper may sign trade
deals, he walks away from partnering with
businesses and entrepreneurs to ensure
they can succeed in new markets and
create wealth and jobs for Canadians.
13. Tax, Profits and Capital Spending
Source – Government of Canada, BMO Economics and Stats Canada or https://www.bnn.ca/awash-in-red-ink-
canadian-clean-tech-struggling-despite-ottawa-s-green-goals-1.729679
Clean Technology
Annual Sales $65.0B (estimated)
Net Loss $3.7B(aggregate)
The old economy is
generating the funds to
support Clean Technology
Steel Tariffs
17. Harper’s approach in 2008-2009
Tax cuts
Infrastructure spending
EI extensions
Other targeted spending
Other new programs
- Tax cuts net Canadians $30B in savings
- Dedicated funding via Gas Tax and Build
Canada Funds
- Extension of EI benefits to workers
- Honored the CST and HST transferred
- Family tax benefits
- Tax Credits
- Pension Splitting
- TFSA
18. Rebuttal #1 – Surplus/(Deficits)
http://globalnews.ca/news/3739447/liberals-deficit-path-bill-
morneau/?utm_source=GlobalNews&utm_medium=Facebook
I am not surprised with this comment as the Liberals expenses are growing about 2x times faster than the
growth of GDP. Here is my surplus/deficit calculation - https://www.slideshare.net/paulyoungcga/canada-
cpc-and-liberals-surplus-debate. Yet if Harper did the same thing in terms of spending and deficits then
the left would have crucified him. So, why does PM Selfie get a free pass?
Secondly, the economy is projected to grow at slower rate in 2018 and beyond, why? Federal government
is pushing national carbon tax starting in 2018. The carbon tax will take money out of the economy -
http://business.financialpost.com/commodities/energy/ottawas-carbon-tax-plan-to-shrink-economy-by-
3-billion-hurt-loonie-in-2018-study. The adjustment is small, but it was shave a point or two off GDP.
Canada is also seeing correction in areas like manufacturing, construction, energy and utility sector.
Thirdly, GDP is project to drop back down to 1.9% to 2.2 range
https://www.slideshare.net/paulyoungcga/gdp-outlook-canada-and-the-world-september-8-2017 - see
slide 3 which shows you that Trudeau growth is same Harper was achieving post 2008-2009 recession.
19. Environment
In 2014 is when Canada was ranked 24th in the world when it came to sustainability including the environment. The Liberals took office in 2015 as such
the ranking for Canada is now 25 when it comes to sustainability. So, where are all these improvements to the environment? There are none! All the LPC
did was keep the same policies with one exception that is imposing a carbon tax on all provinces. Yet carbon taxes have been a failure. Australia yanked
the carbon tax as they were too punitive to the economy and did nothing for global emissions - http://www.cbc.ca/news/world/australia-s-carbon-tax-
repealed-after-2-years-1.2709642
Additional Sources - https://www.slideshare.net/paulyoungcga/environmental-ranking-sustainability-index-canada-and-world-november-2017 or
https://www.slideshare.net/paulyoungcga/global-emissions-co2-november-2017 or https://www.youtube.com/watch?v=C35pasCr6KI&t=468s
In 2014 is when Canada was ranked 24th in the world when it came to sustainability including the environment. The Liberals took office in 2015 as such
the ranking for Canada is now 25 when it comes to sustainability. So, where are all these improvements to the environment?
https://www.slideshare.net/paulyoungcga/environmental-ranking-sustainability-index-canada-and-world-november-2017 or
https://www.slideshare.net/paulyoungcga/global-emissions-co2-november-2017
We have United Nations which is pushing agenda 2030 including forcing carbon tax on countries like Canada. The United Nations never looks at how
foreign aid is used to improve areas of the environment like water management, deforestation, land management and air quality, why?
https://www.slideshare.net/paulyoungcga/agenda-2030-new-world-order-canada-november-2017 and
https://www.slideshare.net/paulyoungcga/foreign-aid-transparency-and-accountability-united-nations-december-2017
Other Sources - https://www.slideshare.net/paulyoungcga/environmental-issues-it-is-not-about-climate-change-february-2018
20. Open and
Transparent
Government
One of key to strong government is ensuring the integrity of government is
protecting. Government’s role is to serve the people in terms of supporting social
programs.
Trudeau said he would be more open and transparent with his government and
that has not been the case
Election Promise 2015 - https://www.liberal.ca/wp-
content/uploads/2015/06/a-fair-and-open-government.pdf
Key Quote
“Let's dispel once and for all with this fiction — to borrow a mangled phrase from a
dear departed Republican primary candidate — that the Liberal Party has brought
transparency to the Canadian government. The Liberal Party has not brought
transparency to the Canadian government.
We have known this for some time. Justin Trudeau's star cabinet ministers have made
fatuous non-answers the unofficial lullaby of most press conferences and question
periods.
Want to know why the Liberals abandoned electoral reform? Well, here are some
platitudes about the value of diverse voices in our democracy. How closely will the
government be involved in its supposedly arms-length multibillion-dollar infrastructure
bank? Uh … can I interest you in some banal remarks about building up the middle
class? How about quotes about investing in Canadians' future? – CBC – May 12, 2017 -
http://www.cbc.ca/news/opinion/government-transparency-1.4111341
Source - https://www.slideshare.net/paulyoungcga/open-and-transparent-government-
justin-trudeau-and-lpc-march-2018
21. Military
Liberals are nickel and dime of taxpayers to cut costs. Liberals have no fiscal plan to
balance the budget. It seems small business, middle class and military are the target
instead of tax havens and tax shelters -
https://www.slideshare.net/paulyoungcga/military-canadian-defense-november-2017
The military is already stretched including additions to headcount.
http://www.forces.gc.ca/en/about-reports-pubs-report-plan-priorities/2017-spending-
and-human-resources.page. It is hard to undertake missions abroad when you lack both
the resources and equipment. The Liberals defense plan pushes spending out to 2020 and
beyond - https://www.slideshare.net/paulyoungcga/military-canadian-defense-
november-2017
Where do we have peace? It is not the Middle East or Africa, right? So, how can you send
peacekeepers when there is no peace? http://www.cnn.com/2017/08/15/africa/un-
mission-timbuktu-attacked/index.html
Where is the UN? UN is great asking for money, but does little to curb corruption, right?
https://www.slideshare.net/paulyoungcga/foreign-aid-transparency-and-accountability-
october-2017
Source -
http://www.ctvnews.ca/video?binId=1.810401&cid=sm%3Atrueanthem%3Actvnews%3A
post&clipId=1254907&playlistId=1.3670791&utm_campaign=trueAnthem%3A+Trending
+Content&utm_content=5a04fa1500bd470006e9f036&utm_medium=trueAnthem&utm_
source=facebook
22. Veterans
Tweet – Veterans Affairs – LPC and Trudeau
Vets do not like the new pension.
http://www.cbc.ca/news/opinion/pension-for-life-
1.4468956
Pension does not kick in until after 2019 -
https://www.thestar.com/news/canada/2017/12/20
/liberals-unveil-pension-plan-for-injured-veterans-
but-wont-take-effect-until-2019.html
Harper was not perfect, but never told Veterans
there was no moneys -
https://www.slideshare.net/paulyoungcga/veterans
-affairs-canada-february-2018
Source -
https://www.youtube.com/watch?v=TgRAcpq8Hag
Source -
https://www.youtube.com/watch?v=bzAW-xCMB1k
23. Immigration
Who said he would welcome everyone?
http://globalnews.ca/news/3212041/justin-trudeau-refugees-donald-
trump-travel-ban/ “To those fleeing persecution, terror & war,
Canadians will welcome you, regardless of your faith. Diversity is our
strength #WelcomeToCanada. The ironic thing is that Trudeau did not
bring in the Christians or Yazidis “http://natoassociation.ca/is-
canada-doing-enough-to-help-yazidi-refugees/. The only reason
1,200 Yazidis came to Canada was due to CPC!
Here is what people think on immigration -
http://torontosun.com/news/national/canadians-sour-on-
immigration-according-to-government-survey
There is also a cost to refugees -
https://www.slideshare.net/paulyoungcga/refugee-crisis-canada-
june-2017
I am also very surprised that many people do not read beyond the
headlines, especially in terms of what ISIS is doing as part their next
action. http://www.nationalreview.com/article/450288/angela-
merkel-refugee-policy-threatens-german-security “It is not news that
ISIS has used the Syrian refugee crisis to infiltrate Europe. In January
2015, ISIS told Buzzfeed that it was doing precisely that. And in
November 2015, Iraqis posing as Syrian refugees helped slaughter
130 people on the streets of Paris.
Liberals / Refugees - http://www.macleans.ca/opinion/canadas-
immigration-system-is-no-kinder-than-americas/
Here are the stats - http://www.cic.gc.ca/english/refugees/asylum-
claimants-historical.asp
24. Foreign Affairs
Prime Minister and presidents speak to their
counterparts around the world. Many presidents
and prime ministers won’t agree with each other
on policy, but you need to respect each leaders
position
There is pattern with Trudeau that is world does
not view Trudeau as heavyweight, but a
lightweight
Trudeau maybe a fan with citizens of various
countries, but not leadership.
Trudeau has been called out many times for his
nonsensical statements.
Source -
https://www.slideshare.net/paulyoungcga/foreig
n-policies-and-affairs-justin-trudeau-and-
liberals-february-2018 or
https://rightlog.in/2018/02/trudeau-india-
khalistanis-01/