Canadians are getting poorer | Le Devoir

The by-election in Toronto-St. Paul, where the Conservatives managed to win a Liberal stronghold, is more a reflection of the Liberal Party of Canada’s massive failures to govern Canada than an appreciation of Pierre Poilievre. Since Justin Trudeau came to power, Canadians have been grappling with rising crime, inflation, poverty, and the prospect of buying a home has become increasingly unrealistic for young people. Partly due to the Trudeau government’s significantly increased immigration policy, there has been a surge in demand, long wait times for building permits, and red tape, which has subsequently disrupted the housing market and made life precarious for many Canadians and Quebecers. Furthermore, in addition to the wear and tear of power that inevitably brings down all governments in democracies, and the fact that about 15% of voters in this Ontario riding are Jewish and frustrated by the Liberals’ criticism of the Israeli state in its war against Hamas, even if they open the floodgates of immigration, which tends to increase economic growth. As Benoit Valois-Nadeau and Alex Fontaine reported for The duty in December 2023, Canada’s GDP nevertheless declined in the second and third quarters of 2023, by 0.4% and 0.2%, respectively. A study by the Fraser Institute also indicates that if GDP per capita does not rebound this year, it will be the most prolonged and largest decline in GDP per person in the last four decades, GDP per person adjusted for inflation from $59,905 to $58,111, a decrease of 3% between April 2019 and the end of 2023. In 2023, Canada experienced unprecedented population growth, with an increase of 3.2% , the highest annual growth rate since 1957. This growth highlights a paradox where the economy is growing while GDP per capita and standards of living are declining. In other words, Canadians are getting poorer and need Ottawa to take structural measures to reduce the exorbitant cost of living.

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