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34 Comments
“Moffatt, a housing economist, says a “wartime effort” is needed to triple the current building rate and throw up 5.8m houses in the next ten years. No such luck. In August, Canadian housing starts dropped to an annualised rate of 217,000.
Demand for housing from the large number of immigrants during Mr Trudeau’s decade in power has worsened the crunch. The number of temporary foreign workers jumped from 109,000 in 2018 to just under 240,000 in 2023. The number of non-permanent residents—including temporary foreign workers, students and asylum-seekers—has more than doubled from 1.3m in 2021 to over 3m on July 1st, according to Statistics Canada, representing 7.3% of Canada’s total population of 41m.
The education and health-care systems have also felt the pinch. Universities are bursting with foreign students, often lured by unscrupulous overseas middlemen offering “sham” degrees, according to Mr Trudeau’s immigration minister, Marc Miller. There were 560,000 student visas handed out in Canada last year. Mr Miller is cutting that number to 364,000. “It’s a bit of a mess, and it’s time to rein it in,” he said earlier this year. Some elementary-school teachers flounder, as they grapple with the children of recent arrivals who often speak neither of Canada’s official languages, English and French.
The pain of high housing costs has been compounded by a mediocre economy. Canada suffers from laggardly productivity growth, which has weighed on wages. Investment has been strong in oil- and gas-fields, and in extractive industries more generally, but has been overshadowed by other parts of the economy. Investment in tech, r&d and education taken together as a share of investment is lower in Canada than anywhere else in the g7 club of rich countries.”
More: https://archive.ph/zo3IP
>“It is a time of massive anxiety.” Justin Trudeau was talking about Canadians’ [economic outlook](https://www.economist.com/finance-and-economics/2024/09/30/why-is-canadas-economy-falling-behind-americas), pitching the durability of his liberal project to a gathering of global progressives in Montreal last month. “People notice the hike in their mortgages much more than they notice the savings in their child care,” he offered, perhaps implying that in doing so people failed to appreciate all he did for them.
Maybe give us back our taxes so we can decide for ourselves what’s best for our families, child care or not.
Of course productivity is down in all sectors. What incentive do businesses have to improve and innovate when they can just hire foreign workers who often pay these same businesses for the privilege of working in this country, usually for minimum wage.
Killing the liberal dream?? What are they talking about?? the dream died 20 years ago….
Has killed.
He doesn’t give a shit about what’s best for Canadians. All he cares about is his ideology and lining the pockets of his buddies.
This country once had a dream?
Clearly this delusional Narcissist thinks he’s done something for average people that they didn’t have before he came to power. Seems all he’s managed is to enrich his “friends” and tax the living daylights out of the rest of us. Doesn’t matter what the problem is, it’s always solved by more taxation and/or debt that our kids kids won’t quite manage to pay off. Time he was a part time drama teacher again, mind you he’s now acquired so much money that likely won’t happen, so l guess we’ve got that to be thankful for. I’m personally sick and tired of his smug, earnest, self satisfied, do what I say not what I do face. Time he was gone!
That’s because we are living in the liberal dream. Neo liberal policy is what led to this and people think it’s gonna lead them out?
Oh well … they can all crumble and cry the losers that they have become and ARE … the time is up and they know it ! NEXT !
Well he’s killed Canada for the rest of us, so I am glad to hear liberals are miserable too
Should be past tense “Justin Trudeau killed Canadas liberal Dream.”
Trudeau is “killing” a lot of things if you ask me. More pain ahead for Canadians, and needed, in order for people to wake up and grow/learn from this.
This shameless guy is trying to make his dynasty, exposing his kids on job tours. Watch out!
He is not killing the liberal dream he is implementing it. A country where the people lack the means to be self sufficient and are 100% dependent on government programs. Can’t not elect the liberals when you need the programs.
Come on. This is a complex matter; America struggling with it too. No one recalls what happened when all apartments became condos in the 90s and the feds stopped building homes. Workers aren’t being paid fairly and this has resulted in no capacity to buy homes. Corporate profits are over the top though and the monopolies in this country continue to gouge us. Unions have been fighting for workers but the playing field is not fair. Raise wages. Raise/Tax the 1%
It’s horrible ! …. PP , hold my strawberry vodka…
This is the ‘Economist’. This is a serious, global publication.
The types of people, who lend money to governments, read the Economist.
He’s killing all our dreams. My dream was to have a couple acres, no neighbors, some chickens and a vegetable garden. I’d build an amateur shooting range for the kids to plink some cans.
In the last 10 years we’ve gone from ‘we’re just not ready for it’, to we would have to make some sacrifices, to it’s probably no longer affordable. And both my wife and I work, and earn the better part of 200k / year.
It’s sad. Everything just feels unattainable. I always wanted a boat too. Probably never going to have that either.
Congrats to us for voting this guy and his party in…
It will take more than a decade to recover from Trudeau’s moronic and bankrupt policies.
He and the federal Liberals will be utterly trounced in the next Federal election. And not a second too soon!!!
Yes, we are already aware that runaway population growth is not ideal, so what now?
A few things.
Immigration must equate to growth in tax revenue. The more people coming to Canada who aren’t actively paying tax, the more difficult it will be (e.g. young children, the elderly). While this is not easy, we must focus on tax revenue for now. This can be tweaked as the system catches up.
Healthcare and education funding at all levels must support current and forecast populations. Success criteria (e.g. class sizes, classroom supports, etc.) must be put in place and upheld. These portfolios should not be managed at the provincial level, but at a national level. It makes no sense to have one government manage population growth and other levels of government handling school and hospital resourcing. At very least there needs to be far more collaboration at each level to ensure balls are not dropped.
Post secondary institutions must cap international student enrollment. This goes back to funding, which if it were sufficient, would not rely on international trade for revenue.
Post secondary funding must put an emphasis on emerging industry trends, and work with industry to help business get started and employ people.
Post secondary institutions can also help train those in the trades, home building etc. the industry, government, and urban planners need to come together to build better communities with amenities including transportation.
has killed everyone’s dreams, the libs are just the last ones to accept it
He just killing Canada in general
Liberals killed the liberal dream. By sticking up and voting for everything Trudeau is doing you cannot blame him for everything he is only one vote among many so between the Liberals and NDP they destroy their country not just Trudeau. Vote all the scumbags out
“Justin Trudeau is killing Canada”
Fixed it.
Our people are getting fucked by taxes because apparently the CAD losing 28% of it’s value relative to the global reserve currency USD doesn’t warrant tax bracket adjustment because it’s not inflation.
$77k CAD in Ontario has an effective average tax rate of 24.94%, and 29.65% marginal. Ontario then has a 13% HST when you go to buy something. That is 34.67% when combined multiplicatively.
An equivalent income of $55.82k USD in the United States in states with no state income tax (NH for example) has and effective tax rate of 11.48% and 12% marginal. Most states have an average sales tax (including county sales taxes) of about 7% ranging from 0% in NH to 9.56% in Louisiana. Therefore ALL provinces except Alberta (and excluding the territories) have a higher combined sales tax than the HIGHEST US state sales tax.
It’s an immigration problem. The polls probably wouldn’t be so dire if they didn’t completely fuck that file up.
Millions of low-skilled workers have, shockingly, not made Canada a better or more prosperous place to live. More at 11.
This anti-Trudeau hysteria in the right-wing media will reach a fever pitch as we head into a federal election next year, but balanced adults won’t be influenced by it.
‘It was just a dream’ economist admits.
Justin Trudeau is killing Canada
The trudeau is taking his instructions from his globalist mentors…. and it is the liberal objective to kill the CANADIAN DREAM!
Generations of Canadians worked hard, suffered through many hardships and risks to build Canada into the country it is only to see those efforts wiped out because of this narcissistic turd. The same thing happened when the trudeau v1.0 was PM! It took decades to fix that mess. This mess made by the trudeau v2.0 with the help of the singh will take generations and many more years to fix. THAT is how bad it is.
In the meantime climate change policy has been an abject failure. National emissions have only decreased by 2% since the taxed co2 tax scam was first imposed on us. So in fact it is the singh and the trudeau who are watching Canada burn and flood contrary to their incessant LIES to the contrary.
We need an election NOW! It should have been called once the last two election results were suspect and influenced by foreign bad actors!
Wow 😮
Because he doesn’t give a shit either way. As long as him and his friends continue getting rich ie. putting 400 million of taxpayers money into strictly owned liberal companies.