Canada economic lessons to Australia

Canada’s economy is a basket case.

The biggest migration surge in history has left Canadians with the worst rental crisis in living memory:

I would also add the United States is also a lesson in the failure of open borders. United States also has similar challenges with affordable housing. https://finance.yahoo.com/news/solving-america-housing-crisis-means-120000857.html

Source - https://www.macrobusiness.com.au/2024/10/canadas-collapsing-economy-a-warning-for-australia/ or CBO

Let me first look at the few of the issues:

GDP per capita

Source - https://www.cbc.ca/news/politics/canada-gdp-per-capita-rich-1.7318989

Source - https://www.macrobusiness.com.au/2024/10/canadas-collapsing-economy-a-warning-for-australia/

What can Australia learned from Canada?

1. Canada has increased the size of government with improving the overall delivery of program spending. Canada is on pace for $50B budget gap for the fiscal year 23/24 -Fiscal Monitor – Canada – July 2024 - https://www.dhirubhai.net/pulse/what-next-public-sector-canada-september-2024-paul-young-1tsac/ as compared to Australia that ran $15.8B budget surplus for their fiscal year 23/24 - Fiscal Management - Australia - FY 2023-2024 - https://www.dhirubhai.net/pulse/fiscal-management-australia-fy-20232024-paul-young-urhuc/
2. Australia has done much better job on trade including focusing on their natural resources sector in areas like iron-ore, copper, LNG, coal, and other areas. Canada has struggle with getting goods out of ground to market. I estimate that Justin Trudeau policies have costs the treasury between $15B to $25B per year due to Trudeau failure to manage the natural resources sector. Why is Canada Trade and Foreign Policies leaving them behind the rest of the World - https://www.dhirubhai.net/posts/paul-young-055632b_opinion-its-a-brave-new-era-of-international-activity-7237102433896669184-06uc?utm_source=share&utm_medium=member_deskto or Trade Analysis and Commentary – Australia – August 2024 -? https://www.dhirubhai.net/pulse/trade-australia-august-2024-paul-young-pccbc/
3. Canada immigration system is a mess - https://torontosun.com/opinion/editorials/editorial-fix-the-mess-dont-spread-it-around
4. Trudeau progressive agenda failed to achieved economic and social benefits for all Canadians. https://nationalpost.com/opinion/canadas-progressive-experiment-has-failed. I support social programs especially revamping areas like OAS, GIS, tax credits, and other programs that are targeted. Trudeau like many spins socialism, but what Trudeau and others do not say that complete socialism is government control of everything. https://www.dhirubhai.net/pulse/failures-socialism-paul-young/. Cuba and Venezuela are lessons on how too much government control can be a disaster. https://www.forbes.com/sites/greatspeculations/2021/07/26/cuba-and-venezuela-offer-cautionary-tales-of-socialism/
5. Housing in both countries will not be fixed with one-off policies. Both Trudeau and Albanese have tried to create housing funds that have done little to address the availability and affordability of housing - What is next for housing - https://www.dhirubhai.net/posts/annegaviola_t-cession-is-toronto-heading-towards-a-recession-activity-7247941284403765248-wN7x?utm_source=share&utm_medium=member_desktop. One of Trudeau proposal is to lease federal land as part of housing. So, Canadians can own their houses but never the land. Policy Review – Canada Lands Management – Housing and Leasing Crown Land - https://www.dhirubhai.net/pulse/justin-trudeau-his-latest-housing-proposal-paul-young-1u7dc/ Here is my latest analysis of the Australia housing market - Housing and Real Estate – Australia – September 2024 - https://www.dhirubhai.net/pulse/housing-real-estate-united-states-september-2024-paul-young-9ysjc/
6. Australia government has also struggled with immigration as well - https://independentaustralia.net/politics/politics-display/labors-asylum-strategy-struggling-to-rectify-coalition-backlog,19029
7. Albanese like Trudeau has failed Australia in many areas like low productivity, low economic growth, housing crisis, etc -https://johnmenadue.com/albos-continual-failures/ or https://www.aph.gov.au/About_Parliament/House_of_Representatives/About_the_House_News/Media_Releases/Challenges_and_risks_facing_local_government
8. Australia is seeing a bear market for commodities - https://www.reuters.com/markets/commodities/australia-revises-down-commodity-revenue-forecasts-prices-trend-lower-2024-09-29/
9. Both Australia and Canada have grown public sector jobs at a faster pace than the goods-producing sector - https://www.macrobusiness.com.au/2024/10/canadian-and-australian-economies-live-off-the-public-teat/
10. Both Canada and Australia have struggled with productivity. https://kpmg.com/ca/en/home/media/press-releases/2024/10/ceos-remain-confident-but-pressure-to-deliver-intensifies.html

Both Canada and Australia are heading to elections in 2025. Both Albanese and Trudeau are polling badly in their respective countries - https://www.dailymail.co.uk/news/article-13905041/Bombshell-blow-Anthony-Albanese-Labors-popularity-falls-lowest-level-key-state.html or https://www.thestar.com/news/canada/conservatives-maintain-lead-but-ndp-now-in-second-place-outside-quebec/article_a7ed34b2-ae6c-11ee-8398-e7344102c0db.html

The United States election is another good indicator that incumbent leadership of Kamala Harris is not listening to the electorate - open borders, inflation, housing, economic opportunity, and public safety are key issues - https://www.breitbart.com/politics/2024/10/04/joe-biden-again-ties-kamala-harris-to-failed-policies-major-player-in-everything-weve-done/

I have authored many articles on public policy including the failures of Justin Trudeau https://medium.com/@paulyoung_81567/why-has-justin-trudeau-failed-canada-b9a2294704e9. Trudeau came to power and made many comments "Like Canada is back" or "I stand up for the middle class" or "Canada should be known for its resourcefulness and not its' resources"

The last point that I will make is elections matter. Voters need to quiz their politicians on various policies. Remember if politicians are not clear on their policies, then what is their hidden agenda?

Paul is a former IBM Customer Success Manager that has deployed over 300 data and AI solutions across industry and geographies for the past 8 years. Paul is a Financial Planning, Analysis, and Reporting SME working with data including integration of macro and micro indicators as part of the integrated business planning and reporting cycle.

[email protected]

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Seeking employment - https://www.dhirubhai.net/posts/paul-young-055632b_hi-all-linked-in-followers-and-contacts-activity-7199365291288506369-qGVf?utm_source=share&utm_medium=member_desktop

?Courses?—? https://www.dhirubhai.net/posts/paul-young-055632b_activity-7163302861974519809-ryf3?utm_source=share&utm_medium=member_desktop

Stock Market – Australia – October 4, 2024 - https://www.dhirubhai.net/pulse/stock-market-australia-october-4-2024-paul-young-ibghc/

Stock Market – Canada – October 4, 2024 - https://www.dhirubhai.net/pulse/stock-market-canada-october-4-2024-paul-young-yoy3c/

Stock Market – United States – October 4, 2024 - https://www.dhirubhai.net/pulse/stock-market-united-states-october-4-2024-paul-young-ibj1c/

Monthly Report – United States – September 2024 -? https://www.dhirubhai.net/pulse/monthly-report-united-states-september-2024-paul-young-1ktmc/

Monthly Report – Canada – September 2024 - https://www.dhirubhai.net/pulse/monthly-report-canada-september-2024-paul-young-atqnc/

Monthly Report – Australia – August 2024 - https://www.dhirubhai.net/pulse/monthly-report-australia-september-2024-paul-young-92soc/

Monthly Report – Ontario – September 2024 - https://www.dhirubhai.net/pulse/monthly-report-ontario-september-2024-paul-young-emxcc/