Canada's GDP - July 2020
•Download as PPTX, PDF•
0 likes•958 views
The document provides an analysis of Canada's GDP and economic outlook in July 2020. It discusses: - Canada's large COVID-19 deficits and debt levels which are unprecedented. - GDP growth projections showing a potential V-shaped recovery for the global and Canadian economies, but risks remain. - GDP breakdown by sector in Canada, showing recovery in some industries but not others. - Recommendations for economic reforms like supporting job growth, improving education and skills training, and reforming government.
Recommended
More Related Content
What's hot
What's hot (20)
Similar to Canada's GDP - July 2020
Similar to Canada's GDP - July 2020 (20)
More from paul young cpa, cga
More from paul young cpa, cga (20)
Recently uploaded
Recently uploaded (20)
Canada's GDP - July 2020
- 1. Canada–GDP–July2020 P a u l Yo u n g C PA C G A S e p t e m b e r 3 0 , 2 0 2 0
- 2. PaulYoung-Bio • CPA, CGA • Academia (PF1, FA4 and MS2) • SME – Risk Management • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Internal Controls • SME – Financial Planning and Analysis • SME – Business Strategy • SME – Emerging Technology • SME – Financial Solutions • SME – Business Process Change • SME – Supply Chain Management Contact information: Paul_Young_CGA@Hotmail.com
- 3. Agenda • Deficit and Debt (Actual and Forecasted) • Global Forecast • World Economy • Stock Market • GDP growth / G7 • GDP by Sector • Middle Class • Guarantee Income • Reforming Government (all levels) • Low Income • Failures of Moreaunomics • Summary
- 4. Deficit/Canada Source - https://www.bnnbloomberg.ca/economics/video/canada-s-covid-19-massive-deficit-is-something-we-ve-never-seen-in-this-country-pbo~1979752 or https://ipolitics.ca/2020/06/23/pbo-estimates-cerb-extension-to-cost-ottawa-17-9-billion/ or https://www.owensoundsuntimes.com/news/local-news/owen- sound-joins-call-for-federal-provincial-covid-19-aid-for-municipalities or https://www.theglobeandmail.com/politics/article-trudeau-to-offer-premiers-billions-to- help-reopen-provincial-and/ https://www.pbo-dpb.gc.ca/en/blog/news/RP-2021-027-S--economic-fiscal-outlook-september-2020--perspectives-economiques- financieres-septembre-2020
- 5. Deficit/Canada Source - https://www.bnnbloomberg.ca/economics/video/canada-s-covid-19-massive-deficit-is-something-we-ve-never-seen-in-this-country-pbo~1979752 or https://ipolitics.ca/2020/06/23/pbo-estimates-cerb-extension-to-cost-ottawa-17-9-billion/ or https://www.owensoundsuntimes.com/news/local-news/owen- sound-joins-call-for-federal-provincial-covid-19-aid-for-municipalities or https://www.theglobeandmail.com/politics/article-trudeau-to-offer-premiers-billions-to- help-reopen-provincial-and/ https://www.pbo-dpb.gc.ca/en/blog/news/RP-2021-027-S--economic-fiscal-outlook-september-2020--perspectives-economiques- financieres-septembre-2020 • GDP was based on Industry Analysis as such maybe a little different than the GDP used by private sector and the PBO
- 6. GDPGrowth
- 8. WorldEconomy • This is an estimate, but does tie back to v shape recovery • However, there should still be caution a there are a lot of risks with the global economy • https://www.slideshare.net/paulyoungcga/what-is-next-for-the-global-economy-august-2020
- 9. StockMarket
- 10. GDP–G7 Source – Stats Canada
- 13. JobsandGDP Recovery S o u r c e – S t a t s C a n a d a
- 14. AboveWages–Canada Source – Stats Canada • There are issues with job quality - https://www.slideshare.net/paulyoungcga/job-quality-canada-235057299 • Reshaping policies related to education and training - https://www.slideshare.net/paulyoungcga/human-capital- management-skills-and-education • Automation will increase post covid19 - https://www.slideshare.net/paulyoungcga/business-automation-whats- next • All levels of governments need to focus on supply chain management - https://www.slideshare.net/paulyoungcga/how-best-to-reshore-supply-chains • Government needs to be reform - https://www.slideshare.net/paulyoungcga/public-sector-how-to-reform-all- levels-of-government • EI and UBI - https://www.slideshare.net/paulyoungcga/policy-employment-insurance-and-cerb-canada-august- 2020
- 15. GuaranteeIncome Basic income? How about we fix what ails the economy? COVID19 Post Economic issues You can expect 500K or more jobs not coming back post-covid19. Could this be grounds for the government to push basic income? 1. Job Quality - https://www.slideshare.net/paulyoungcga/job-quality-canada-vs-usa 2. Growing the economy - https://www.slideshare.net/paulyoungcga/slow-economic-growth-canada-march-2020 3. Emphasis on the skill trades - https://www.slideshare.net/paulyoungcga/2019-election-skills-management-career-and- employment-canada-september-2019 4. Failures of Guarantee Income - https://www.slideshare.net/paulyoungcga/is-guarantee-income-the-right-approach-for-canada-and- other-countries Throwing money at the symptoms does not make the problem go away! @jyduclos you and your government constantly mislead the world and cdns on poverty. You deny that poverty had decrease under previous govt. You deny the impact of your policies like a carbon tax on low-income earners, why? https://www.slideshare.net/paulyoungcga/why-has-poverty-still-exist-around-the-world @emilia_suze @GasPriceWizard @theJagmeetSingh my work ties to solutions. When has your party ever brought forward solutions other than hiking taxes on both businesses and the top 1%,, There is no need for a wealth tax - https://www.slideshare.net/paulyoungcga/wealth-tax-does-the-world- need-a-wealth-tax
- 16. ReformingGovernment Over the years the size and cost of government has grown. COVID19 has shown that very few governments had crisis management plans to handle a major crisis. All levels of governments are faced with constraints like the following: 1. Union contracts including a broke arbitration process - https://www.owensoundsuntimes.com/news/local-news/owen-sound-fire- arbitration-decision-will-produce-substantial-savings 2. Compensation reforms (pensions and wages) - https://www.slideshare.net/paulyoungcga/2019-election-public-sector-efficiency- canada-july-2019 3. All levels of government need to embrace data and AI as part of streamlining reporting as well as automating internal audit programs - https://www.slideshare.net/paulyoungcga/the-role-of-operational-and-performancebased-auditing-on-government-and- the-private-sector 4. Local government needs to embrace new models when it comes to building affordable housing - https://www.slideshare.net/paulyoungcga/urban-and-rural-planning-whats-next-236315321 5. All levels of government need to find efficient and effective ways to build new infrastructure as well as replace aging infrastructure - https://www.slideshare.net/paulyoungcga/construction-sector-whats-happening 6. Reforming public safety including the use on analytics and more oversight - https://www.slideshare.net/paulyoungcga/how-do-we- improve-public-safety-including-police-reforms 7. More emphasis on education and training - https://www.slideshare.net/paulyoungcga/human-capital-management-skills-and- education 8. More emphasis on economic development - https://www.slideshare.net/paulyoungcga/transforming-the-economy-postcovid19- canada-and-the-world 9. Better support for buying locally - https://www.slideshare.net/paulyoungcga/canada-retail-sales-april-2020 10. More coordination with private sector on broadband expansion - https://news.ontario.ca/opo/en/2020/06/ontario-improving- broadband-and-cell-service-for-rural-communities.html
- 17. PovertyandDepressedareas • Canadians are still struggling with affordability - https://www.slideshare.net/paulyoungcga/affordability-analysis-and-commentary-canada-june- 2020 • High unemployment in urban areas - https://dailyhive.com/edmonton/edmonton-highest- unemployment-coronavirus • Top 10 most depressed areas in Canada - https://www.immigroup.com/news/top-8-worst-places- move-canada • There has been issues with the working poor for many years - https://www.lowestrates.ca/news/toronto-racialized-workforce-working-poor-25966
- 18. FailureofMorneaunomics Here is my analysis of @Bill_Morneau and it is not the fluff that Morneau reports to MSM. https://www.slideshare.net/paulyoungcga/was-finance-minister-bill-morneau-a-success-or-failure Finally someone has decided to call out the failures of Morneaunomics! https://financialpost.com/opinion/william-watson-the-line-on-bill- morneau?utm_medium=Social&utm_source=Twitter#Echobox=1598016708
- 19. Summary • GDP will continue to be challenged post COVID19. All levels of government need to refocus their efforts on supporting policies that encourage economic growth - https://www.slideshare.net/paulyoungcga/what-is-going-on-with-canadas-competitiveness • There is a great opportunity for local and provincial government to refocus on the goods producing sector, like Natural Resources and AG sectors - https://www.slideshare.net/paulyoungcga/canada-natural-resources-sector-whats-next • More and more automation is about to take root. All levels of government need to address their policies including taxation. Taxation rules for robots that replace people need to be revisited - https://www.slideshare.net/paulyoungcga/technology-what- needs-to-happen-for-canada-and-the-world • All levels of government will need to be reformed - https://www.slideshare.net/paulyoungcga/how-to-reform-the-public-sector- in-canada-and-around-the-world • Canada needs to emphasize getting goods to market (MFG, Natural Resources and AG, etc.) - https://www.slideshare.net/paulyoungcga/whats-next-for-manufacturing-in-canada-237239963 or https://www.slideshare.net/paulyoungcga/government-policy-natural-gas-canada or https://www.slideshare.net/paulyoungcga/canada-needs-to-development-natural-resources-and-agricultural-strategy • Skills gaps needs to be address as part of positioning people for jobs of today and tomorrow - https://www.slideshare.net/paulyoungcga/automation-and-human-capital-management-human-resources
- 20. TrainingandDevelopment • If you like to learn more about trade and/or other subjects as part of your professional learning and development then feel free to review my material on https://www.udemy.com/ (search Paul Young CPA CGA) • These subjects address how to fixed issues with housing and/or systemic issues related to economy including government policies