What is next for Canada - July 2021

WHAT IS
NEXT FOR
CANADA
Paul Young CPA CGA
May 31, 2021

PAUL YOUNG - BIO
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• 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: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga

AGENDA
GDP per capita
Cost of living
Employment
Social Welfare
Middle Class
Top 1%
Fiscal stimulus
Retail Sales
Housing Market
Foreign Policies and
Affairs
Environment
Food Pricing and
security
Infrastructure
PRESENTATION TITLE 2/11/20XX 3
Business
competitiveness
Manufacturing Sector
Natural Resources
Sector
Public Safety
Defense spending
Healthcare
Education and Skills
Gaps
New Governance
model
Indigenous Affairs
Value For Money
Critical Metals
Rail Safety
Pharma/Biotech
Forestry

GDP PER CAPITA
• GDP needs to have less government intervention in areas like carbon tax or excessive regulations or other
policies that drive GDP growth - https://www.slideshare.net/paulyoungcga/gdp-canada-industry-february-
2021
• Policies that better support both the private and public sectors adjusting to the new normal -
https://www.slideshare.net/paulyoungcga/new-normal-for-canada-and-the-world-248752153
• Immigration policies that support economic growth and address issues with the labor force -
https://www.slideshare.net/paulyoungcga/policy-review-october-2020-immigration-and-refugees-canada

COST OF LIVING
• High cost of housing
• Carbon pricing / pass through
• Supply chain / reshoring
• Food security
Here is my work on the cost of living - Here is my work on inflation for Canada -
https://www.slideshare.net/paulyoungcga/cost-of-living-canada-may-2021
•

EMPLOYMENT
• Job quality issues continue to plague the Canadian Economy
• Goods-producing jobs as % of employment are lower in Apr/21 as compared to Nov/15
• Canada’s economy needs to become more competitive
• Canada needs a more efficient and effective public sector (end of big government)
• Here is my work on employment - https://www.slideshare.net/paulyoungcga/career-and-employment-outlook-for-
canada-and-united-states-may-2021

SOCIAL WELFARE TRANSFERS
• More emphasis on programs that protect the most vulnerable, i.e., people living with disability,
seniors, retraining and other areas
• UBI - https://www.slideshare.net/paulyoungcga/ubi-guarantee-income-canada-social-
safety-net
• EI - https://www.slideshare.net/paulyoungcga/policy-review-ei-unemployment-insurance
• Retirement - https://www.slideshare.net/paulyoungcga/retirement-and-government-
pensions-canada-and-the-world-march-2021
• Poverty - https://www.slideshare.net/paulyoungcga/how-to-fix-global-poverty

MIDDLE CLASS
Source - https://www.slideshare.net/paulyoungcga/middle-class-canada-march-2021
• Refining the tax code for personal filers
• Revisiting consumption taxes vs payroll taxes
• Source - https://www.slideshare.net/paulyoungcga/how-is-the-middle-class-doing-in-canada

TOP 1%
1. fix the tax code
2. close-down tax havens
3. Implement value for money on all programs
4. Stop throwing money at the symptoms
5. Revisiting investment and passive income rules
I have written many blogs on tax fairness -
https://www.slideshare.net/paulyoungcga/wealth-and-taxation-
fairness-february-2021

FISCAL STIMULUS
This is about $70B less than the fall update which reflected $381.6B
https://home.kpmg/ca/en/home/insights/2020/11/highlights-of-the-2020-federal-fall-economic-update.html
Canada deficit came in at 313B for FY21. https://www.slideshare.net/paulyoungcga/fiscal-management-canada-march-
2021
Previous deficits did little to address competitive issues facing the Canadian economy.

RETAIL SALES
Blog – Canada – Retail Sales – May 2021
½ of all Canadians are worried about going into debt to pay household expenses.
Canadian retailers continue to adopt more and more of a digital model.
Biggest threats to retail are fraud, cyber security, supply chain disruption, and labor shortages.
https://www.slideshare.net/paulyoungcga/canada-retail-sales-may-2021

HOUSING MARKET
all levels of government and the private sector need
to fix the systemic issues with housing.
https://www.slideshare.net/paulyoungcga/how-do-
you-best-support-urban-planning-rural-vs-urban
1. 3D / Module housing
2. Availability of land
3. Stress testing
4. Ridiculous bids and ask
5. Cost of raw materials
6. More focus on rural strategy
7. More investment in the skill trades
8. Modernization of infrastructure
9. Mitigation of climate change impact
10. Revisiting foreign ownership rules/laws.
2017 -
https://www.slideshare.net/paulyoungcga/entry-
into-the-canadian-housing-market-continues-to-be-
a-challenge-for-firsttime-home-buyers or 2016 -
https://www.slideshare.net/paulyoungcga/housing-
market-canada-and-united-states-risks-and-threats

FOREIGN AFFAIRS AND POLICIES
Source - https://www2.slideshare.net/paulyoungcga/foreign-policies-and-affairs-middle-east-240930944
• The next government needs to focus on the following areas:
• Reforming of United Nations and its Agencies including more oversight into foreign aid and UN
agencies - https://www.slideshare.net/paulyoungcga/foreign-aid-how-to-improve-outcomes or
https://www.slideshare.net/paulyoungcga/reforming-the-united-nations-and-its-agencies
• The G7 has become less important due to growth and importance of emerging markets like China,
India, African Countries, Latin America, etc.
• The next leader needs to focus on building relations with countries -
https://www.bnnbloomberg.ca/trudeau-riles-china-50-years-after-his-father-established-ties-
1.1508195 or India - https://www.macdonaldlaurier.ca/canada-india-relations-inside-policy/ or
https://pgdailynews.ca/index.php/2020/06/28/canadas-foreign-policy-isnt-what-it-used-to-be/

ENVIRONMENT
• There needs to better balanced between the
environment and the economy
• Most emphasis on policies that better support
the circular economy -
https://www.slideshare.net/paulyoungcga/how
-best-to-managed-the-circular-economy
• Better forestry management practices -
https://www.slideshare.net/paulyoungcga/wha
t-is-next-for-the-forestry-sector-248000228
• Better urban planning that mitigates issues
with the environment while building affordable
housing -
https://www.slideshare.net/paulyoungcga/wha
t-is-required-to-support-rural-canada
• The next government needs to review all
aspects policies including taxation and
regulations -
https://www.slideshare.net/paulyoungcga/how
-best-to-address-issues-facing-the-
environment

FOOD SECURITY AND PRICING
• Canada needs to look at policies that better support the agriculture and the food processing sector -
https://www.slideshare.net/paulyoungcga/how-to-optimize-agricultural-land-for-productive-purposes-as-
part-of-managing-the-food-supply
• The hospitality sector continues to adjust to new normal including looking at zero-waste -
https://www.slideshare.net/paulyoungcga/hospitality-and-food-service-sector-canada-january-2021

INFRASTRUCTURE
 The infrastructure funding mechanism will need to change as more and more vehicles move towards Electrical Vehicles -
https://www.slideshare.net/paulyoungcga/electrical-vehicles-and-plugin-stations
 More oversight into P3 and other mechanism that support infrastructure spending -
https://www.slideshare.net/paulyoungcga/addressing-the-issues-with-public-infrastructure-united-states and
https://www.slideshare.net/paulyoungcga/how-to-fix-the-infrastructure-gap-canada-and-the-world
 Infrastructure planning should look at ways to mitigate the impacts of climate change -
https://www.slideshare.net/paulyoungcga/why-there-needs-to-be-audited-reports-of-crisis-emergency-management-
policies-and-procedures
Source - https://outlook.gihub.org/countries/Canada

COMPETITIVENESS
• Moving away from direct grants to R&D tax credits
• Streamlining regulations as part of getting projects approved
• More partnerships between post-secondary schools and the private sector
• Revamping tax policies that better support startups
• Here is my work on competitiveness - https://www.slideshare.net/paulyoungcga/how-to-improve-
canada-global-competitiveness

MANUFACTURING
SECTOR
• Addressing the skills gap
• Adoption of 3D printing
• More designation of critical products as
part of building a resilient economy
• Revamping R&D and other policies to
better support manufacturing
• https://www.slideshare.net/paulyoungcg
a/manufacturing-canada-analysis-and-
commentary-march-2021
Manufacturing sales fell 0.6% to
$57.9 billion in May, the second
consecutive monthly decline. The
machinery, chemical and fabricated
metal industries were mainly
responsible for the decline. Sales of
wood product manufacturing
increased the most, followed by
primary metal.
https://www.slideshare.net/paulyoungcg
a/manufacturing-canada-may-2021

NATURAL RESOURCES
• More focus on development of
natural resources in sustainable
way
• More focus on refinement and
fabrication. Rare Metals, Lithium,
etc. are sent out of the country for
refinement and fabrication
• Natural resources sectors pay on
average about 30-40% more than
service sector
• https://www.slideshare.net/paulyo
ungcga/how-to-maximize-the-
natural-resources-for-canada
• Blog – What is next for Canada’s
Mining Sector (Natural Resources)
https://www.slideshare.net/pauly
oungcga/what-is-next-for-mining-
canada-and-the-world
•

PUBLIC SAFETY
• Gun control laws that go after criminals
• Ensuring that rehabilitation is effective
• More investment in areas like cybersecurity
• Appointment of judges based on non-partisan selection process along with term limits
• More adoption of AI and other tools to help mitigate issues with crime
• https://www.slideshare.net/paulyoungcga/public-safety-crime-policing-prosecution-incarceration-and-rehab-canada

DEFENSE SPENDING
• Continuing the modernization of the Canadian Forces
• Achieving the GDP % commitment to NATO or revamping the NATO commitment
• Fixing the human resources related issues with Canadian Forces
• More oversight into capital purchases
• Here is my work - https://www.slideshare.net/paulyoungcga/policy-analysis-defense-spending-canada

EDUCATION / SKILLS
GAPS
• Education needs to better align with of job today and tomorrow
• The STEM needs to be further refined to address the job vacancies issues facing the economy
• Better partnership between the private sector and educational institution
• Here is my work on human capital - https://www.slideshare.net/paulyoungcga/how-both-the-private-
and-public-sectors-can-better-managed-their-human-capital-requirements

HEALTHCARE
• Fixing issues with delivery of healthcare, i.e., drug costs, access to doctors, better disease
management, and other areas
• Healthcare - https://www.slideshare.net/paulyoungcga/reforming-healthcare-with-
countries-around-the-world-245685198

NEW GOVERNANCE
MODEL
• All levels of government need to revamp their governance model to better safeguard assets as well as delivery
program spending with value for money.
• All levels of government need to focus on tax fairness
• My work - https://www.slideshare.net/paulyoungcga/how-to-fix-the-goverance-model-for-the-public-
sector-government

INDIGENOUS AFFAIRS
• Addressing issues with education and economic development.
• Clean water for all indigenous settlements.
• Addressing issues with access to healthcare.
• Bringing back mandatory reporting of financial results as part of implementing better
oversight.
• Fixing issues with housing through 3D and/or modular housing options.

MORE EMPHASIS ON VALUE FOR MONEY AND
PERFORMANCE AUDITS
The next government needs to allocate more money and resources to performance and value for money
audits - Here is a brief look at why value for money and performance audits are very important for all levels of
government - https://www.slideshare.net/paulyoungcga/why-are-value-for-money-and-performance-audits-
important-for-government-public-sector

CRITICAL METALS
Many countries are looking at how best to manage critical materials as part of supporting zero emissions. This
presentation talks about the priorities of various governments around the world to secure access to critical material as
part of protecting their supply chain from disruption.
https://www.slideshare.net/paulyoungcga/in-search-of-rare-earths

RAIL SAFETY
https://www.nationalnewswatch.com/2021/07/19/grain-growers-wondering-whether-the-railways-can-deliver-this-
years-harvest/#.YPVWT0ApDQx
There have been issues with the following:
- blockades
- Lack of rail cars
- Port capacity
Here is my look at the railroad sector - https://www.slideshare.net/paulyoungcga/canada-rail-safety-and-transportation-
april-2021

PHARMA/BIOTECH
Blog – Biotech and Pharmaceuticals – Canada and the World – July 2021 -
https://www.slideshare.net/paulyoungcga/biotech-and-pharmaceutical-july-2021-249786910

FORESTRY
MANAGEMENT
I think there needs to be more discussion on government policies.
- Forest management practices
- Railways/sparks
- use of drones and monitoring equipment (AI)
- Other areas of policy
https://www.slideshare.net/paulyoungcga/what-is-next-for-the-forestry-sector-249673424

TRAINING AND DEVELOPMENT
• 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

What is next for Canada - July 2021

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