GDP is key measurement for a country. Allot is said about GDP, especially by various government. The reality is government gets to much credit for booming economy and too much fault for recession. There are many factors drive GDP including taxation, business returns, consumer spending and government spending. 2/3 of economies tend to be driven by consumer spending. If you set policies that takes more money out people’s pocket book then that will lead to less consumer spending. Canada no longer has the fastest growing economy in the G-7 - http://www.gbm.scotiabank.com/English/bns_econ/forecast.pdf

1. REAL TRUTH - CANADA AND UNITED STATES - GDP
BY: PAUL YOUNG, CPA, CGA
DATE: JANUARY 26 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. INTRODUCTION
 GDP is key measurement for a country. Allot is said about GDP, especially by various government. The
reality is government gets to much credit for booming economy and too much fault for recession.
 There are many factors drive GDP including taxation, business returns, consumer spending and
government spending. 2/3 of economies tend to be driven by consumer spending. If you set policies
that takes more money out people’s pocket book then that will lead to less consumer spending.
 Canada no longer has the fastest growing economy in the G-7 -
http://www.gbm.scotiabank.com/English/bns_econ/forecast.pdf

4. AGENDA
 What is GDP
 Example of GDP
 GDP by decade
 GDP / Canada Example (GDP % by Government)
 GDP Global Forecast
 GDP / Canada (LPC vs CPC)
 Role of Government and GDP
 Middle Class

5. WHAT IS GDP?
Source - https://www.investopedia.com/ask/answers/199.asp or https://www.thebalance.com/what-is-gdp-definition-of-gross-domestic-product-
3306038
Gross domestic product is the best way to measure a
country's economy. GDP is the total value of everything
produced by all the people and companies in the country. It
doesn't matter if they are citizens or foreign-owned
companies. If they are located within the country's
boundaries, the government counts their production as GDP.

6. GDP BY DECADE
Source - https://www.nextbigfuture.com/2017/12/a-multi-decade-economic-
boom.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2Fadvancednano+%28nextbigfuture%29

7. USA GDP

8. CANADA VS USA GDP
• USA has passed Canada in terms of the highest GDP per G7
• Germany will also pass Canada in terms of GDP Growth

9. LIBERALS / MIDDLE CLASS
Source - https://www.liberal.ca/trudeau-unveils-liberal-platform-for-a-strong-middle-
class/
“Stephen Harper wants us to think
that if it weren’t for him, our
economy would fall apart. But
Canada’s economy doesn’t depend
on him. It depends on Canadians. It
depends on the people I meet all
across this country, every single
day,” said Mr. Trudeau. “People want
economic growth, good jobs, and
more money in their pockets. They
want to see their voices and values
represented in Ottawa. Canadians
want a better government, not just a
different one. It’s time for real
change, and that is exactly what the
Liberal plan provides.”
Liberal 2015 GDP by PM
Wage Growth by Year

10. BLOG –
EMPLOYMENT –
ENTRY-LEVEL
 Did the Liberals not run on jobs for all? https://www.liberal.ca/realchange/opportunities-for-young-
canadians/
 “After ten years under Stephen Harper, good-quality job opportunities for young Canadians are tougher nd
tougher to find. Faced with high unemployment and underemployment, many young people have stopped
looking for work altogether.
 This is hard for both young people and their families. Many parents are seeing their household debt rise and
retirement savings dwindle as they struggle to support their grown children, who often return home. It is
time to invest in young Canadians – to help them get the work experience they will need to start their
careers and contribute fully to our economy.
 Yet in 2016 the job quality index hit the worst level in decades. So, much for sunny ways and jobs, right?
Issues with entry level jobs: -
 https://globalnews.ca/news/3914000/university-graduates-entry-level-jobs-canada/ “In 2016, around one in
two entry-level jobs did not require a minimum level of education (87,500 vacancies). A quarter of those
gigs (48,400 vacancies) required a high school diploma and one in five (18,300 vacancies) required a college
diploma. Only 14,000 entry-level jobs required a university degree. For comparison, over 250,000 Canadians
graduated from university in 2010. - https://globalnews.ca/news/3914000/university-graduates-entry-level-
jobs-canada/?utm_source=%40globalnews&utm_medium=Twitter
 Goods producing sector continue to lag other sectors in terms of job growth -
https://www.slideshare.net/paulyoungcga/wages-and-employment-canada-policy-analysis - Goods
producing sector would lead to engineering, quality control inspectors, supply chain management, inventory
control, etc.
 Retail/wholesale sector lead a good chunk of the growth. Warehousing is going through automation -
https://www.xconomy.com/boston/2017/11/20/locus-robotics-gets-25m-to-help-warehouse-owners-
compete-with-amazon/
 Job Quality Index - http://www.cbc.ca/news/business/wages-cibc-job-quality-1.3872389 “The quality of
employment in Canada is falling, according to a report from CIBC, with more low-paid jobs and those
earning less than the average wage falling further behind. Both young people and Canadians over 55 are
stuck in the low-wage job sector, primarily in-service jobs. But even among workers aged 25 to 54, 53 per
cent had jobs that paid between 50 and 100 per cent of the average wage.
 http://www.huffingtonpost.ca/2017/12/03/stingy-canadian-employers-face-workforce-crisis-in-2018-
report_a_23295535/ “Canada's employers face a potential "workforce crisis" next year, as employees take
advantage of a strong job market to leave their jobs in search of better pay and work conditions, a new
report says. And it's due to employers' own reluctance to improve wages and hire permanent workers,
according to the report from recruitment agency Hays Canada.

11. BLOG #1 – MIDDLE CLASS
 http://www.torontosun.com/2017/10/11/canucks-believe-middle-class-dream-replaced-by-nightmare-poll
 Yet Trudeau said the article is wrong? https://globalnews.ca/news/3769136/taxes-middle-class-liberals/ I hate to tell PM Selfie that Trudeau
is wrong. You cannot eliminate tax credits, income tax splitting, etc. and then expect taxes will go down, because they do not!
https://www.slideshare.net/paulyoungcga/did-the-middle-class-cut-truly-help-canadians . FYI - The child tax benefit did not reduce poverty
by 400,000.
 Trudeau so called middle class tax cut did not work - https://globalnews.ca/news/3769136/taxes-middle-class-liberals/. This is before carbon
tax is implemented across Canada 2019. The carbon tax will hurt low to middle class more than the wealthy.
http://www.cbc.ca/news/canada/saskatoon/australian-carbon-tax-opponent-chris-berg-saskatchewan-1.3884765
 Yet the PBO office said CPC cuts help low to middle class Canadians. Trudeau again got it wrong about Harper and his policies!!!!
https://globalnews.ca/news/1356467/tax-cuts-since-2005-net-canadians-30b-pbo/.
 Wage growth - How about the fact your government has lost 75,000 mfg jobs? http://business.financialpost.com/opinion/75000-
manufacturing-jobs-lost-thats-the-price-of-ontarios-electricity-disaster How come incomes have grown only 3.8% for 10 years?
http://www.cbc.ca/news/politics/statistics-canada-census-2016-income-hightlights-1.4287179
 In 2014 is when Canada had the best middle class in the world - https://beta.theglobeandmail.com/report-on-business/top-business-
stories/canadas-middle-class-now-worlds-richest-study-suggests/article18090490/?ref=http://www.theglobeandmail.com&
 People complain about corporations and yet they contribute to wealth distribution –
 Harper did not just focus on tax cuts including corporate tax, but also set up innovation funds and sign trade deals to expand exports.
https://www.slideshare.net/paulyoungcga/wealth-distribution-canada-corporate-tax-july-2017. Trudeau was elected and said he will focus
on clean technology, right? https://www.liberal.ca/wp-content/uploads/2015/08/A-new-plan-for-Canadas-environment-and-economy.pdf
The problem is clean technology companies are not making money, right? http://www.bnn.ca/awash-in-red-ink-canadian-clean-tech-
struggling-despite-ottawa-s-green-goals-1.729679
 Harper created many innovation funds, sign trade agreements, expanded ports like Montreal, Prince Rupert, etc. Harper was all about
getting goods to market. More could have been done, but pipelines as well as lack of priorities by governments including Ontario on natural
resource development set Harper back - https://www.slideshare.net/paulyoungcga/merchandise-trade-canada-july-2017
 Liberals love to fabricate the facts - https://www.slideshare.net/paulyoungcga/liberal-party-of-canada-election-promises-september-2017.
FYI the middle class tax cut was supposed to be revenue neutral and it was not - http://www.huffingtonpost.ca/2015/12/07/liberals-middle-
class-tax-cut-rich_n_8740118.html

12. TWEET – CANADA COMPETITIVENESS
 http://business.financialpost.com/opinion/jack-mintz-if-trudeau-ever-accepts-reality-heres-how-he-can-save-
canadas-competitiveness

 Trudeau does not get it about competitiveness or his government would not push carbon tax, more regulations,
elimination of tax credits and small business tax proposals
 Carbon Tax - http://business.financialpost.com/commodities/energy/ottawas-carbon-tax-plan-to-shrink-economy-by-3-billion-
hurt-loonie-in-2018-study
 NAFTA - https://www.thestar.com/news/canada/2018/01/25/trudeau-confident-nafta-deal-within-reach-as-canada-tables-new-
proposals.html
 Regulations - http://www.cbc.ca/news/canada/calgary/ceri-eastern-refineries-canadian-oil-1.4502037
 Regulations - http://business.financialpost.com/commodities/this-isnt-an-episode-of-columbo-burnaby-lawyers-grill-kinder-
morgan-at-trans-mountain-route-hearing
Other Sources - https://www.slideshare.net/paulyoungcga/cost-competitiveness-canada-december-2017

13. MIDDLE CLASS