Justin Trudeau new Economic Council
Paul Young
Experience Senior Financial Planning, Analysis and Reporting SME seeking P/T or F/T job.
2016 Council Recommendation:
Boosting immigration to 450,000
The group also called on Ottawa to create an agency with a mandate to increase foreign direct investment into Canada that it believes could triple investment and add $43 billion to the gross domestic product in only a few years.
"These actions would bring much-needed coherence to what is currently a disjointed approach to foreign investment," the report said.
It also recommended that the federal government ramp up permanent immigration to 450,000 people a year over the next five years — with a focus on top business talent and international students.
Median Household Income:
Blog – GDP and Economic Growth – Trudeau new Economic Council chair by Mark Carney
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2016 Council Recommendation:
Boosting immigration to 450,000
The group also called on Ottawa to create an agency with a mandate to increase foreign direct investment into Canada that it believes could triple investment and add $43 billion to the gross domestic product in only a few years.
"These actions would bring much-needed coherence to what is currently a disjointed approach to foreign investment," the report said.
It also recommended that the federal government ramp up permanent immigration to 450,000 people a year over the next five years — with a focus on top business talent and international students.
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Median Household Income:
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Median House Income - https://www.springfinancial.ca/blog/lifestyle/average-income-by-province-in-canada
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These include:
Develop a focused federal infrastructure strategy and establish a Canadian Infrastructure Development Bank
PY:
The PBO called out issues with the Infrastructure Bank back in 2021 - https://globalnews.ca/news/7713529/canada-infrastructure-bank-pbo/
There has been challenges with closing the infrastructure gap since Trudeau was elected - Construction Analysis – Canada – June 2024 - https://www.dhirubhai.net/pulse/construction-sector-canada-june-2024-paul-young-1y5wc/
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Become a top-tier foreign direct investment (FDI) destination by developing an FDI strategy in line with the country’s economic growth strategy, and creating an FDI agency (Invest in Canada Hub) to attract anchor companies;
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Canada was ranked #8 in 2015 when it came to destination for FDI -https://www.theglobaleconomy.com/rankings/share_world_fdi/ . Canada was already in the top elite level for FDI.
The key focus of Trudeau has been solely on clean energy areas like hydrogen and lithium.
Policy Review?—?Chile?—?Lithium?- https://medium.com/@paulyoung_81567/policy-review-chile-lithium-baad3af1953b or https://www.dhirubhai.net/posts/paul-young-055632b_the-state-of-hydrogen-in-2024-australian-activity-7197210157821419521-yNbp?utm_source=share&utm_medium=member_desktop This year’s Federal Budget bets big on green hydrogen. But as technology advances and finds its footing in industrial applications, how is it performing, and does it have a viable future?
Increase annual permanent economic immigration levels from 300,000 to 450,000 over five years, streamline the entry for top talent (specialized workers and executives, for example), and rethink. Express Entry points allocations to qualify more international students Unlock innovation and support its commercialization by establishing business-led innovation
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PY:
Immigration is a mess - https://www.theglobeandmail.com/business/commentary/article-how-can-the-trudeau-government-fix-its-immigration-mess-press-rewind/
marketplaces (superclusters), creating additional pools of growth capital for promising companies,
PY:
Superclusters are behind their metrics - https://researchmoneyinc.com/article/parliamentary-budget-officers-pessimistic-report-on-innovation-superclusters-used-outdated-data
I have authored many articles on the need to pivot on innovation policies including moving away from the super clusters.
Why has Canada decline in Innovation compared to its Peers - https://medium.com/@paulyoung_81567/why-has-canada-failed-support-innovation-2d1178ef62f7
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leveraging strategic government procurement to help innovators identify a “reference customer,”
Trudeau and his team have made a mess of procurement https://www.theglobeandmail.com/politics/article-independent-review-raises-concerns-about-contracts-awarded-to-mckinsey/
reviewing and rationalizing government innovation programs, and expediting entry for top talent Establish the FutureSkills Lab, a non-governmental organization to study current and future skills, demand and serve as a laboratory for skills development and measurement;
PY:
Trudeau labor increases has seen a rise in public sector employment
Blog – Middle Class and Jagmeet Singh - https://www.dhirubhai.net/posts/paul-young-055632b_ndp-leader-jagmeet-singh-pulls-out-of-supply-activity-7237845179724947457-_FqZ?utm_source=share&utm_medium=member_desktop
In 2015 is when Canada had one of the best middle classes in the world. Over the past 9 years the middle class has been faced with higher overall taxes and affordability issues not faced in a generation.
Mr. Singh says now he is champion for the middle class and that is likely an election ploy to compete against Pierre Poilievre.
I have also done analysis of jobs using the baseline mix in 2015. I calculate that Justin Trudeau policies have cost the goods-producing sector between 500K to 1M jobs. The average goods-paying sector jobs tend to pay 20-30% more than other service sectors.
Justin Trudeau big government never led to more efficient programs or new programs that drive better outcomes for all Canadians.
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领英推荐
Blog – Middle Class and Jagmeet Singh - https://www.dhirubhai.net/pulse/jagmeet-singh-middle-class-paul-young-galyf/
Unleash growth in six to eight high-potential sectors (for example, agri-food, advanced manufacturing, energy and renewables, and health care and life sciences) by taking a new aspirational and collaborative approach to sector development;
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GDP (Gross Domestic Product) – Canada – June 2024 - https://www.dhirubhai.net/pulse/gdp-canada-june-2024-paul-young-9r1sf/
Increase workforce participation, in particular among Indigenous peoples, lower-income Canadians, women with children, and Canadians over the age of 55;
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PY:
https://thewalrus.ca/how-workplace-diversity-fails-indigenous-employees/ or https://ottawa.citynews.ca/2024/03/05/canada-lags-behind-peer-countries-on-female-representation-in-management-report/
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Position Canada as a global trading hub by strengthening links to large and fast-growing Asian economies, nurturing the North American trade relationship, and investing in trade infrastructure.
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There are no trade deals with India - https://policyoptions.irpp.org/magazines/june-2024/canada-trade-india/
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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_desktop
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#Canada must prepare for a heightened era of economic turmoil in which trade, technology and investment matters are securitized. The U.S.-China rivalry has multiple effects on trade. It manifests sharply through U.S. and #Chinese industrial policies that distort trade patterns. Both countries are using their deep wallets to craft government initiatives to rework supply chains in their favour. Both “#friendshoring” and “#nearshoring,” where businesses move operations to friendlier and nearer countries, are accelerating, despite constraints, with countries such as #Mexico, #South Korea, #Thailand and #Vietnam benefiting.
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Source - https://www.cbc.ca/news/politics/morneau-economic-advisory-panel-1.3814725 and Government of Canada
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Paul Young CPA CGA
Paul Young is SME on Public Policy. Paul authors many articles related public sector governance, program review, tax fairness, value for money and performance audits, digital adoption, driving generative AI solutions to all levels of government.
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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
Blog – What is next for ESG Reporting – August 2024 - https://www.dhirubhai.net/posts/paul-young-055632b_introductory-to-esg-and-sustainability-reporting-activity-7233711298838978561-UB6d?utm_source=share&utm_medium=member_desktop
Stock Market for W/E September 7, 2024 - https://youtu.be/lw4GXHlaZAk?si=r4pzGhoHvxHLScnc or https://www.dhirubhai.net/posts/paul-young-055632b_stock-market-for-we-september-7-2024-activity-7238691424135716865-CmT6?utm_source=share&utm_medium=member_desktop
Revenue decline 3 of 5 S and P 500 - https://www.dhirubhai.net/posts/paul-young-055632b_3-out-of-5-companies-miss-revenue-estimates-activity-7238238374031941634-7Frv?utm_source=share&utm_medium=member_desktop
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The S&P 500 (#SP500) plunged 4.25% for the holiday-shortened week, posting its worst weekly performance since early March 2023.
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