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Fiscal and Economic
Scorecard – Canada
– January 2023 and
December 2022
Paul Young CPA CGA
February 28, 2023
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@ca.ibm.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
3
Agenda
• Key Metrics
• Employment – Canada
• Trade – Canada
• Manufacturing – Canada
• Housing – Canada
• Cost of Living / Canada
• Electricity
• Fiscal Update / Canada
• Blog – ESG Reporting
• Summary
4
Key Metrics
5
Key Metrics
6
Key Metrics
GDP by Industry
Employment / Analysis
Stats Canada - Trade
10
Manufacturing Sales – Canada
Source – Stats Canada
11
Top Trends for Manufacturing
1. Onshoring
2. A Shift from B2B to B2C
3. Additive Manufacturing
4. Cybersecurity
5. Smart factories
6. ESG initiatives
7. Talent acquisition
• https://www.thomasnet.com/insights/top-7-manufacturing-trends-for-2022/?ecms_id=be52c10e-4a96-49ec-92e8-
3fe6cea78bda&ecms_short=ART6835&doc_type=ted_article&sponsored=&acct=&parent_id=357a9397-5b6e-4a4b-92e1-
9b9c901450e4&utm_content=featuredstory&position=1&linktype=title&channel=email&campaign_type=thomas_industry_
update&campaign_name=tiu220325&utm_campaign=tiu220325&utm_medium=email&utm_source=thomas_industry_upd
ate&tinid=221763045
• My links
• USA - https://www.slideshare.net/paulyoungcga/united-states-manufacturing-sector-continues-to-face-many-challenges
• Canada - https://www.slideshare.net/paulyoungcga/canada-what-is-next-for-manufacturing-february-2022-and-january-
2022
•
12
Real Estate and Housing
OECD and Inflation
Summary - Inflation
Power Generation / Key Country –
Source - https://www.iea.org/reports/monthly-oecd-electricity-statistics
Fiscal Management – 2022/2023
Source – Government of Canada -
Summary
Canada projected a 12B deficit for FY 2023. The current surplus of $5B is primarily to do with higher revenue and
lower expenses being paid out. The economy is about hit major headway as such taxes should start to drop over
the next 5-6 months. Government expenses will likely grow over the next few months.
Bank of Canada / Monetary
Policies
18
Commodities
19
Job Vacancies
Source – CIBC and Stats Canada
20
ESG Reporting
Blog - Opportunity knocks for firms as ESG reporting, assurance levels rise. -
https://www.linkedin.com/posts/paul-young-055632b_opportunity-knocks-for-firms-as-esg-reporting-
activity-7036271928411639808-YYAt?utm_source=share&utm_medium=member_desktop
https://www.journalofaccountancy.com/news/2023/feb/opportunity-knocks-firms-esg-reporting-assurance-
levels-rise.html
This ties nicely to my blog on IOT and Sustainability - https://www.linkedin.com/posts/paul-young-
055632b_the-top-10-technology-trends-to-watch-in-activity-7036269916559196160-
RXhi?utm_source=share&utm_medium=member_desktop
The standards will continue to evolve over time. There could eventually private standards like there is for
small to medium-size businesses for accounting rules - https://nelliganlaw.ca/articles/ifrs-how-it-impacts-
your-small-to-mid-size-business/. Private companies may have a trim down version of the global ESG and
Sustainability standard similar to ASPE rules for accounting disclosures
21
Summary
• Canada like many countries around the world continues to face many challenges
Blog – Fiscal and Economic Scorecard for Canada – January 2023 and December 2022
20232802_GDP_Can
ada.pdf
GDP income and
expenditure.pdf
Canada GDP continues to face many challenges - https://www.fxstreet.com/news/canadian-gdp-
preview-forecasts-from-six-major-banks-economy-cooling-but-not-stalling-202302271514
Canada needs to do more to make itself key FDI in areas like clean technology, forestry, advance
manufacturing, oil and gas, agriculture, and mining -
https://www.marketscreener.com/quote/stock/BANK-OF-MONTREAL-1409224/news/BMO-Notes-
Canada-s-Current-Account-Deficit-Worsens-in-Q4-Sees-Deficit-Staying-Manageable-in-Next-43099398/
Canada needs to address issues with low productivity and lack of innovation spending –
https://researchmoneyinc.com/article/new-innovation-agency-s-success-hinges-on-its-private-sector-
leadership-experts-say or
More needs to be done to address the government delivery model and tax fairness as part of the fiscal
management cycle - https://macdonaldlaurier.ca/size-of-government-in-canada/
AI and Supply Chain - https://www.thestar.com/business/opinion/2023/02/28/artificial-intelligence-
could-provide-a-solution-to-canadas-supply-chain-troubles.html
Canada needs to do more to promote is oil and gas sector as part of the overall climate change agenda -
https://calgaryherald.com/opinion/columnists/varcoe-oil-prices-allows-alberta-to-cut-debt-spending
GDP - https://www.slideshare.net/secret/hRDGcABrTjcxtW
Canada Prime Rate
History (1935 - February 2023) WOWA.ca.pdf
Globe editorial The
big banks’ dependence on housing undermines Canada’s prosperity - The Globe and Mail.pdf
How Canada's
grocery oligopoly dulled competition, fuelled inflation Financial Post.pdf
Diane Francis
Corporate Canada gets good grades for exiting Russia.pdf
BMO Notes Canada's
Current Account Deficit Worsens in Q4; Sees Deficit Staying Manageable in Next Quarters MarketScreener.pdf
Biden’s ‘Buy
American’ measures require Canada to improve competitiveness iPolitics.pdf
Corporate ESG
reporting and assurance increase, but inconsistencies remain Accounting Today.pdf
Propose Federal Rent
Control Blacklock's Reporter - Governance.pdf
Canadian GDP
Preview Forecasts from six major banks, economy cooling, but not stalling.pdf
Research Money
Inc..pdf
Size of government
in Canada Macdonald-Laurier Institute.pdf
AI could provide
solution to Canada’s supply chain troubles The Star.pdf

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Fiscal and Economic Scorecard - Canada - January 2023 and December 2022.pptx

  • 1. Fiscal and Economic Scorecard – Canada – January 2023 and December 2022 Paul Young CPA CGA February 28, 2023
  • 2. 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@ca.ibm.com LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
  • 3. 3 Agenda • Key Metrics • Employment – Canada • Trade – Canada • Manufacturing – Canada • Housing – Canada • Cost of Living / Canada • Electricity • Fiscal Update / Canada • Blog – ESG Reporting • Summary
  • 10. 10 Manufacturing Sales – Canada Source – Stats Canada
  • 11. 11 Top Trends for Manufacturing 1. Onshoring 2. A Shift from B2B to B2C 3. Additive Manufacturing 4. Cybersecurity 5. Smart factories 6. ESG initiatives 7. Talent acquisition • https://www.thomasnet.com/insights/top-7-manufacturing-trends-for-2022/?ecms_id=be52c10e-4a96-49ec-92e8- 3fe6cea78bda&ecms_short=ART6835&doc_type=ted_article&sponsored=&acct=&parent_id=357a9397-5b6e-4a4b-92e1- 9b9c901450e4&utm_content=featuredstory&position=1&linktype=title&channel=email&campaign_type=thomas_industry_ update&campaign_name=tiu220325&utm_campaign=tiu220325&utm_medium=email&utm_source=thomas_industry_upd ate&tinid=221763045 • My links • USA - https://www.slideshare.net/paulyoungcga/united-states-manufacturing-sector-continues-to-face-many-challenges • Canada - https://www.slideshare.net/paulyoungcga/canada-what-is-next-for-manufacturing-february-2022-and-january- 2022 •
  • 15. Power Generation / Key Country – Source - https://www.iea.org/reports/monthly-oecd-electricity-statistics
  • 16. Fiscal Management – 2022/2023 Source – Government of Canada - Summary Canada projected a 12B deficit for FY 2023. The current surplus of $5B is primarily to do with higher revenue and lower expenses being paid out. The economy is about hit major headway as such taxes should start to drop over the next 5-6 months. Government expenses will likely grow over the next few months.
  • 17. Bank of Canada / Monetary Policies
  • 19. 19 Job Vacancies Source – CIBC and Stats Canada
  • 20. 20 ESG Reporting Blog - Opportunity knocks for firms as ESG reporting, assurance levels rise. - https://www.linkedin.com/posts/paul-young-055632b_opportunity-knocks-for-firms-as-esg-reporting- activity-7036271928411639808-YYAt?utm_source=share&utm_medium=member_desktop https://www.journalofaccountancy.com/news/2023/feb/opportunity-knocks-firms-esg-reporting-assurance- levels-rise.html This ties nicely to my blog on IOT and Sustainability - https://www.linkedin.com/posts/paul-young- 055632b_the-top-10-technology-trends-to-watch-in-activity-7036269916559196160- RXhi?utm_source=share&utm_medium=member_desktop The standards will continue to evolve over time. There could eventually private standards like there is for small to medium-size businesses for accounting rules - https://nelliganlaw.ca/articles/ifrs-how-it-impacts- your-small-to-mid-size-business/. Private companies may have a trim down version of the global ESG and Sustainability standard similar to ASPE rules for accounting disclosures
  • 21. 21 Summary • Canada like many countries around the world continues to face many challenges Blog – Fiscal and Economic Scorecard for Canada – January 2023 and December 2022 20232802_GDP_Can ada.pdf GDP income and expenditure.pdf Canada GDP continues to face many challenges - https://www.fxstreet.com/news/canadian-gdp- preview-forecasts-from-six-major-banks-economy-cooling-but-not-stalling-202302271514 Canada needs to do more to make itself key FDI in areas like clean technology, forestry, advance manufacturing, oil and gas, agriculture, and mining - https://www.marketscreener.com/quote/stock/BANK-OF-MONTREAL-1409224/news/BMO-Notes- Canada-s-Current-Account-Deficit-Worsens-in-Q4-Sees-Deficit-Staying-Manageable-in-Next-43099398/ Canada needs to address issues with low productivity and lack of innovation spending – https://researchmoneyinc.com/article/new-innovation-agency-s-success-hinges-on-its-private-sector- leadership-experts-say or More needs to be done to address the government delivery model and tax fairness as part of the fiscal management cycle - https://macdonaldlaurier.ca/size-of-government-in-canada/ AI and Supply Chain - https://www.thestar.com/business/opinion/2023/02/28/artificial-intelligence- could-provide-a-solution-to-canadas-supply-chain-troubles.html Canada needs to do more to promote is oil and gas sector as part of the overall climate change agenda - https://calgaryherald.com/opinion/columnists/varcoe-oil-prices-allows-alberta-to-cut-debt-spending GDP - https://www.slideshare.net/secret/hRDGcABrTjcxtW Canada Prime Rate History (1935 - February 2023) WOWA.ca.pdf Globe editorial The big banks’ dependence on housing undermines Canada’s prosperity - The Globe and Mail.pdf How Canada's grocery oligopoly dulled competition, fuelled inflation Financial Post.pdf Diane Francis Corporate Canada gets good grades for exiting Russia.pdf BMO Notes Canada's Current Account Deficit Worsens in Q4; Sees Deficit Staying Manageable in Next Quarters MarketScreener.pdf Biden’s ‘Buy American’ measures require Canada to improve competitiveness iPolitics.pdf Corporate ESG reporting and assurance increase, but inconsistencies remain Accounting Today.pdf Propose Federal Rent Control Blacklock's Reporter - Governance.pdf Canadian GDP Preview Forecasts from six major banks, economy cooling, but not stalling.pdf Research Money Inc..pdf Size of government in Canada Macdonald-Laurier Institute.pdf AI could provide solution to Canada’s supply chain troubles The Star.pdf

Editor's Notes

  1. Source - Stats Canada, BMO, RBC, CIBC, TD Economics, Derosiers Automotive, World Steel, Association of AG Equipment, IES, US Govt, The Trucker and BNS, https://insideevs.com/news/343998/monthly-plug-in-ev-sales-scorecard/, Table: 25-10-0058-01 (formerly CANSIM 129-0006)
  2. Source - Stats Canada, BMO, RBC, CIBC, TD Economics, Derosiers Automotive, World Steel, Association of AG Equipment, IES, US Govt, The Trucker and BNS, https://insideevs.com/news/343998/monthly-plug-in-ev-sales-scorecard/, Table: 25-10-0058-01 (formerly CANSIM 129-0006)
  3. Source - Stats Canada, BMO, RBC, CIBC, TD Economics, Derosiers Automotive, World Steel, Association of AG Equipment, IES, US Govt, The Trucker and BNS, https://insideevs.com/news/343998/monthly-plug-in-ev-sales-scorecard/, Table: 25-10-0058-01 (formerly CANSIM 129-0006)
  4. Source – Stats Canada
  5. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/221005/dq221005a-eng.htm
  6. https://www.slideshare.net/paulyoungcga/what-is-next-for-canadas-mining-forestry-energy-and-agricultural-sectorspptx