Has Justin Trudeau and Liberals made lives better for the Middle Class in Canada?

DID JUSTIN
TRUDEAU
SUPPORT
THE MIDDLE
CLASS IN
CANADA
Paul Young CPA CGA
October 27, 2021

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

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

MEDIAN INCOME
ANALYSIS
Canada 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2007to2015 2016to2019
Allages 32,571,174 32,889,025 33,247,118 33,628,895 34,004,889 34,339,328 34,714,222 35,082,954 35,437,435 35,702,908 36,109,487 36,545,295 37,065,178 37,593,384
yearoveryear 1.0% 1.1% 1.1% 1.1% 1.0% 1.1% 1.1% 1.0% 0.7% 1.1% 1.2% 1.4% 1.4% 1.0% 1.3% LPC
GDP/Income 1,514,764 1,604,508 1,618,908 1,611,692 1,701,548 1,812,700 1,844,064 1,933,124 2,013,944 1,991,680 2,066,148 2,182,852 2,232,208 2,343,508
yearoveryear 5.9% 0.9% -0.4% 5.6% 6.5% 1.7% 4.8% 4.2% -1.1% 3.7% 5.6% 2.3% 5.0% 3.1% 4.2% LPC
PerCapitaIncome 46,506
$ 48,786
$ 48,693
$ 47,926
$ 50,038
$ 52,788
$ 53,121
$ 55,102
$ 56,831
$ 55,785
$ 57,219
$ 59,730
$ 60,224
$ 62,338
$
yearoveryear 4.9% -0.2% -1.6% 4.4% 5.5% 0.6% 3.7% 3.1% -1.8% 2.6% 4.4% 0.8% 3.5% 2.1% 2.8% LPC
#ofFamilies 14,157,690 14,330,960 14,546,430 14,714,650 14,888,680 15,120,820 15,299,720 15,529,000 15,740,980 15,917,480 16,093,810 16,378,990 16,716,230 17,014,030
yearoveryear 1.2% 1.5% 1.2% 1.2% 1.6% 1.2% 1.5% 1.4% 1.1% 1.1% 1.8% 2.1% 1.8% 1.3% 1.7% LPC
Medianbefore-taxfamilyincome1213 45,190 47,240 48,710 48,470 49,170 50,610 52,120 53,210 54,630 55,930 56,600 58,230 59,890 61,310
yearoveryear 4.5% 3.1% -0.5% 1.4% 2.9% 3.0% 2.1% 2.7% 2.4% 1.2% 2.9% 2.9% 2.4% 2.4% 2.3% CPC
Medianafter-taxfamilyincome212 39,760 41,880 43,320 43,650 44,230 45,390 46,700 47,700 48,800 49,840 50,620 52,090 53,440 54,790
yearoveryear 5.3% 3.4% 0.8% 1.3% 2.6% 2.9% 2.1% 2.3% 2.1% 1.6% 2.9% 2.6% 2.5% 2.5% 2.4% CPC
Source Table:17-10-0005-01(formerlyCANSIM051-0001) 0.3666667
Source Table:36-10-0103-01(formerlyCANSIM380-0063)
Source Table:11-10-0017-01(formerlyCANSIM111-0045)

JOB QUALITY

EMPLOYME
NT – SEPT
2021 VS
NOVEMBER
2015

EMPLOYMENT – NOV/15 VS OCTOBER 2019

AUTOMATION AND JOBS
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

TD / AUTOMATION
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

TD AND INNOVATION
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

MANUFACTURING –
CANADA
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

NATURAL RESOURCES
https://www.nationalnewswatch.com/2021/06/04/does-canada-need-another-pipeline-feds-ask-days-after-biden-
cancels-keystone-xl-2/#.YLnpxqEpDQy
Canada needs to start putting emphasis on the supply chain as part of maximizing its natural resources.
https://www.slideshare.net/paulyoungcga/how-to-maximize-the-natural-resources-for-canada
Natural Resources sector jobs pay between 30-40% higher than the service sector jobs

COST OF LIVING

MIDDLE CLASS 2015 ELECTION PROMISE
• 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

HOUSING
Blog – Affordability of Housing – Canada – July 2021
Avg. monthly payment for mortgages is close to $1,500/month
Average house price in Canada is close to 670K or about 126K since 2015.
Cdns are being left out of the real estate market
https://www.slideshare.net/paulyoungcga/affordable-housing-and-homelessness-canada

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

GREEN AND CIRCULAR ECONOMY
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

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 - Blog – How to Reform STEM – Education and
Training - https://www.linkedin.com/pulse/how-reform-stem-education-training-paul-young/?published=t
• Middle class is still facing many issues like high costs of housing.
• Failure of Trudeaunomics - https://www.slideshare.net/paulyoungcga/failure-of-trudeaunomics-august-2021
• Not enough focus has been given to building a resilient supply chain management system in Canada - Blog – How to
Reform STEM – Education and Training - https://www.linkedin.com/pulse/how-reform-stem-education-training-paul-
young/?published=t
• 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. https://www.linkedin.com/posts/paul-
young-055632b_materiality-question-dogs-secs-esg-disclosure-activity-6833707246556450816-JYAL
•

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