1. Fiscal and Economic
Scorecard – Canada
– May 2022 and
June 2022
Paul Young CPA CGA
July 29, 2022

2. Paul Young - Bio
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• 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 email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos

3. 3
Agenda
• Key Metrics
• Employment – Canada
• Trade – Canada
• Manufacturing – Canada
• Housing – Canada
• Cost of Living / Canada
• Electricity
• Fiscal Update / Canada
• Blog – Path Forward – Budget 2021
• Blog – Pharmacare
• Blog – Job Quality
• Blog – Climate change
• Blog – Plastics
• Blog – Wind and Recycling
• Blog – Competitiveness
• Blog – Energy Crisis
• Blog – Electrical Vehicles
• Blog – Critical Metals
• Blog – Monetary Policies
• Blog – Retail Sector
• Blog – Transforming the Public Sector
• Blog – ESG Reporting
• Summary

4. 4
Key Metrics

5. 5
Key Metrics

6. 6
Key Metrics

7. GDP by Industry

8. 8
GDP Growth and Deficits
Source – Stats Canada, BMO, and Finance Department –
Canada

9. 9
Blog – Slow Growth
@MarkGerretsen I think you miss the memo?
MSM never mentioned how GDP went from 3.0% in 2017 to 1.6 in 2019. Trudeau also never
mentioned how inflation.
16 https://www.slideshare.net/paulyoungcga/2016-november-2016-gdp-gross-domestic-product-canada
18 https://www.slideshare.net/paulyoungcga/gdp-canada-the-real-truth
Oct/21 https://www.slideshare.net/paulyoungcga/gdp-canada-analysis-and-commentary-october-2021

10. Employment / Analysis

11. Middle Class

12. Stats Canada - Trade Merchandise Trade -
Canada - May 2022.pdf
Looking Under the
Hood on Trade.pdf

13. Stats Canada - Trade

14. Stats Canada - Trade

15. 15
Manufacturing Sales – Canada
Source - https://www150.statcan.gc.ca/n1/daily-quotidien/220714/dq220714a-eng.htm

16. Stats Canada - Trade

17. 17
Top Trends for Manufacturing
1. Onshoring
2. A Shift from B2B to B2C
3. Additive Manufacturing
4. Cybersecurity
5. Smart factories
6. ESG initiatives
7. Talent acquisition
• https://www.thomasnet.com/insights/top-7-manufacturing-trends-for-2022/?ecms_id=be52c10e-4a96-49ec-92e8-
3fe6cea78bda&ecms_short=ART6835&doc_type=ted_article&sponsored=&acct=&parent_id=357a9397-5b6e-4a4b-92e1-
9b9c901450e4&utm_content=featuredstory&position=1&linktype=title&channel=email&campaign_type=thomas_industry_
update&campaign_name=tiu220325&utm_campaign=tiu220325&utm_medium=email&utm_source=thomas_industry_upd
ate&tinid=221763045
• My links
• USA - https://www.slideshare.net/paulyoungcga/united-states-manufacturing-sector-continues-to-face-many-challenges
• Canada - https://www.slideshare.net/paulyoungcga/canada-what-is-next-for-manufacturing-february-2022-and-january-
2022
•

18. 18
Real Estate and Housing
@RalphGoodale did you not say back 2015 that Harper had the worse household debt? https://nationalpost.com/opinion/ralph-
goodale-the-myth-of-the-roaring-canadian-economy
So, what does that make your former Boss's record on household debt? https://www.cbc.ca/news/business/statscan-household-
debt-1.6486665
https://www.slideshare.net/paulyoungcga/has-justin-trudeau-been-open-transparent-and-accountable-to-canadians-we-june24-
2022pptx

19. OECD and Inflation

20. Summary - Inflation

21. Summary - Inflation

22. Power Generation / Key Country –
Source - https://www.iea.org/reports/monthly-oecd-electricity-statistics

23. Fiscal Management – 2022/2023
Source – Government of Canada -
Summary
Canada projected a 12B deficit for FY 2023. The current surplus of $5B is primarily to do with higher revenue and
lower expenses being paid out. The economy is about hit major headway as such taxes should start to drop over
the next 5-6 months. Government expenses will likely grow over the next few months.

24. New estimated Projection Deficit
Fiscal Monitor - April
2022 and May 2022.pdf

25. Canada and Stock Market
PRESENTATION TITLE 2/11/20XX 25
Bear in Mind.pdf

26. Bank of Canada / Monetary
Policies

27. 27
Path Forward for Canada
Blog – What is next for Canada
• The new normal means likely changes on how parts of the GDP work including capacity restrictions for
sectors like hospitality, tourism, and entertainment.
• Development of natural resources in sustainable way
• Protecting the environment while growing the economy
• Addressing issues with job quality
• Addressing issues with the cost of living
• Implementing tax fairness policies
• Addressing the delivery model for government including more performance audits and value for money
audits.
Source - https://www.slideshare.net/paulyoungcga/what-is-the-path-forward-for-canada-october-2021

28. 28
Commodities
Canada mining, forestry, oil and gas sector have been faced with both taxation and regulatory hurdles as part of developing future reserves -
https://www.bnamericas.com/en/interviews/exploration-splurge-by-canadas-miners-to-spill-over-into-latam and
https://www.slideshare.net/paulyoungcga/natural-resources-canada-whats-next-may-2022pptx
LNG demand continues to grow. More LNG capacity is being added in Qatar and the United States - https://ca.investing.com/analysis/natural-gas-as-
freeport-crisis-drags-new-lng-capacity-gets-signed-on-200513926
Critical metals continue to face price and cost issues - https://capital.com/rare-earth-elements-miners-need-to-invest-now-to-end-fossil-fuel-dependency
Lack of oil capacity has been impacting gasoline prices - https://www.hellenicshippingnews.com/us-refining-capacity-falls-to-lowest-mark-in-8-years-amid-
record-prices-eia/ and https://ca.movies.yahoo.com/u-oil-gas-exports-fueling-200000520.html
Countries continue to push the 2030 agenda without having a solid transition plan off fossil fuels. https://www.cbc.ca/news/politics/environment-
commissioner-emissions-reduction-targets-1.6431155 or https://torontosun.com/opinion/columnists/goldstein-pms-massive-climate-spending-fails-to-
achieve-promised-results or https://www.reuters.com/business/sustainable-business/global-climate-goal-could-be-peril-without-carbon-price-reform-2022-
06-22/

29. 29
Pharmacare
“The federal government is out of excuses: It’s time to get serious about pharmacare”
https://www.canadianmanufacturing.com/features/the-federal-government-is-out-of-excuses-its-time-to-get-
serious-about-pharmacare/
The program with this article is there no focus on various government drug programs that need to be
consolidated. There also needs to be focus on a made in Canada solutions related to drug development.
My work - https://www.slideshare.net/paulyoungcga/biotech-and-pharmaceutical-september-2021

30. 30
Job Vacancies
Source – CIBC and Stats Canada

31. 31
Climate Change
Blog – Growing the Circular Economy through better Climate Mitigation Policies
I support better policies that encourage both the private and public sectors to move their operation model to zero-
waste. More work needs to be done on policies related to waste-to-energy (CCA) or abolishing carbon taxation or
streamlining of regulations and taxes or tax credits for environmental work, i.e., tree plant or water management or
other areas of the environment.
https://www.slideshare.net/paulyoungcga/how-to-advance-the-circular-economy-through-climate-mitigation-policies

32. 32
Plastics
Plastics play a key role as part of disease mitigation including masks, dividers, storage, etc. The real issue is how
best to recycle the plastics as part diverted waste from waterways and landfill sites.
https://www.canadianmanufacturing.com/manufacturing/plastic-resin-emerges-as-tiniest-example-of-
enduring-covid-19-supply-chain-crunch-273555/
My work: https://www.slideshare.net/paulyoungcga/how-to-maximized-the-circular-economy-250318403

33. 33
Wind Turbines and Recycling
Blog – Wind Power and Recycling - https://www.linkedin.com/posts/paul-young-055632b_to-end-wind-power-
waste-siemens-gamesa-designs-activity-6848534185544699904-bg01
There needs to be a global strategy on how to recycle the old blades. https://windeurope.org/newsroom/press-
releases/wind-industry-calls-for-europe-wide-ban-on-landfilling-turbine-blades/

34. 34
Competitiveness
@MPJulian and the NDP
Shutdown tax-havens.
Fix the tax act.
Getting more value for money out of program spending
The focus should be on protecting the environment while
growing the economy in a sustainable way.
https://www.slideshare.net/paulyoungcga/tax-fairness-and-
business-competitiveness-analysis

35. 35
Energy Crisis
Australia exported 3-13 million tons per month of coal to China in 2020. If China needs 50 million tons per month that
is rapid increase in coal production. It is unclear in China and Australia would be able to ramp to meet the demand.
China is already in a shortage of perhaps 50 million tons per month.
If there is a rapid surge in coal importing to China, there could be overbidding that causes shortages for other Asian
countries. This will also make the supply chain problems even worse.
Prioritizing heating over electricity means more factory shutdowns.
Prioritizing heating coal imports over other supply chain means that the 200 ships waiting to get unloaded get bumped
back at the ports for hundreds of coal ships.
China having coal production problems is tough because building other sources of electricity and heating will take
years. Especially if China wants to get beyond current levels to support 6% per year GDP growth.
https://www.nextbigfuture.com/2021/10/173364.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bl
ogspot%2Fadvancednano+%28nextbigfuture%29
This ties nicely to my work on energy - https://www.linkedin.com/pulse/world-heading-energy-crisis-paul-young/

36. 36
Electrical Vehicles
Blog - World Largest Plug-in Station provider promises full charge in 15 minutes - Electrical Vehicles
Technology company ABB made an announcement stating it has created the quickest electric vehicle charger. ABB claims that in just under
three minutes, its charger, the Terra 360, can provide a range of 62 miles. Leave the vehicle plugged in for 15 minutes, and it can be fully
charged.
New Atlas reports ABB’s Terra 360 possesses a maximum output of 360 kW. The charger resembles a gasoline pump and has four ports and
16-foot retractable cables that allow it to charge as many as four vehicles at the same time. Although, if four vehicles are charging
simultaneously, the kW decreases to 90.
https://www.thomasnet.com/insights/world-s-fastest-ev-charger-promises-full-battery-in-15-minutes/?ecms_id=8afea2aa-cf09-4d8c-996c-
d6af6c50fd63&ecms_short=ART5963&doc_type=ted_video_article&parent_id=4a24fd38-8dd6-4945-8747-
c1c52587a6e5&utm_content=featuredvideo&linktype=title&channel=email&campaign_type=thomas_industry_update&campaign_name=tiu
211026&utm_campaign=tiu211026&utm_medium=email&utm_source=thomas_industry_update&tinid=221763045
Additional Links:
eVehicles - https://www.slideshare.net/paulyoungcga/electrical-vehicles-and-plugin-stations-adoption-october-2021
Plug-in stations issues - https://www.wealth-wave.com/wealth-wave/3-ev-speedbumps-3-potential-profits/
Grid limitations - https://www.rte.ie/news/business/2021/1020/1254828-maxol-20m-investment/
Grid connection issues - https://www.cbc.ca/amp/1.6224159
Car rentals - https://www.cnbc.com/2021/10/25/tesla-hertz-ev-deal-signal-to-rental-car-fleets-its-time-for-electric.html

37. 37
Natural Resources / Critical Metals
Blog – Natural Resources Sector – What is next – October 2021
Canada’s natural resources sector is about 11% of its GDP. Canada needs to put a focus on development of its’ natural
resources in a sustainable way as part of support the green and circular economy.
Canada has sizeable reserves in the areas of critical metals - https://mineralprices.com/canada-should-take-the-lead-in-
global-critical-minerals-development-panel/?utm_source=rss&utm_medium=rss&utm_campaign=canada-should-take-
the-lead-in-global-critical-minerals-development-panel
My work
https://www.slideshare.net/paulyoungcga/what-is-next-for-canada-and-worlds-natural-resources-250492008
Key stocks - https://investingnews.com/daily/resource-investing/critical-metals-investing/rare-earth-investing/top-
canadian-rare-earths-stocks/

38. 38
Monetary Policies – BOC
Key Implications
In the latest highly anticipated decision, the Bank of Canada changed up the script. It pulled forward the timing of
when it expected the output gap to close to the middle quarters of next year as it judged that supply disruptions were
weighing more heavily on the economy's productive capacity. So, even as the GDP forecast was revised down in this
MPR, the output gap closed sooner than what the Bank had projected in July.
In terms of our own view, we expect the Bank will raise rates three times next year, taking the overnight rate to 1%
by the end of 2022. Inflation is heating up, and it would be prudent to remove some monetary stimulus as the
economy continues down the road to recovery.
We must acknowledge that there is significant uncertainty around the economic outlook right now. A resurgence of
the pandemic could result in greater stimulus, but if there is a faster-than-expected acceleration in household
spending, the Bank could raise rates at a faster clip. The Bank of Canada is showing that it is nimble and will react
quickly to the evolving economic landscape.
https://economics.td.com/ca-boc-interest-rate-announcement
Additional Links:
https://www.slideshare.net/paulyoungcga/what-is-next-for-global-monetary-policies-october-2021

39. 39
Transforming the Retail Sector
https://www.theglobeandmail.com/business/industry-news/property-report/article-innovation-driving-transformation-of-retail/
The shift of consumer spending to the digital realm is driving the transformation of physical retail into an immersive,
“phygital” experience, Ms. Nicholls says.
“Omnichannel has been a buzzword in retail for a long time,” says Ashley Barby, founder of Toronto-based, retail-
innovators hub FashionTech, whose report, Store of the Future, was released this month.
As pandemic restrictions continue to ease, customers will expect “a post-omnichannel world – or a channel-less
environment – where everything has merged, and the customer transacts seamlessly within all of them.
Additional links:
Australia – Retail Sales – August 2021 - https://www.slideshare.net/paulyoungcga/retai-sales-australia-august-2021
Canada - https://www.slideshare.net/paulyoungcga/retail-sales-and-consumer-spending-canada-august-2021
USA - https://www.slideshare.net/paulyoungcga/retail-sales-usa-september-2021

40. 40
Transforming the Public Sector
Blog – How to fix the Governance Model for
the Public Sector -
https://www.slideshare.net/paulyoungcga/h
ow-to-fix-the-goverance-model-for-the-
public-sector-government-249941842
Source - https://www.auditboard.com/

41. 41
ESG Reporting
Blog - 88 percent of Industrial Businesses Are Now Prioritizing Sustainable Manufacturing - https://www.linkedin.com/pulse/blog-88-
percent-industrial-businesses-now-paul-young/?published=t
In a strategic move to increase operational efficiency while simultaneously reducing cost, many industrial business leaders have recently been
prioritizing sustainability throughout their facilities. Sustainable manufacturing, which the U.S. Department of Commerce defines as using
industrial processes that minimize negative environmental impacts and are safer for both employees and consumers, has been gaining
momentum lately amid what the United Nations calls the “Decade of Action.”
A recent study from Oxford Economics highlighted that 65% of companies have created a clear mission statement around sustainability, with
another 23% noting that they are in the process of developing such a statement, for a total of 88% of companies prioritizing sustainability.
Similarly, in a recent SAP survey, 46% of industrial business leaders shared that sustainability is top of mind for them throughout the
manufacturing process, and 68% of them have reduced energy consumption at their businesses.
https://www.thomasnet.com/insights/88-of-industrial-businesses-are-now-prioritizing-sustainable-manufacturing/?ecms_id=f3a900b0-35f4-
494d-8457-fda636ddd249&ecms_short=ART5960&doc_type=ted_video_article&parent_id=2fd67156-2dae-43a3-82d5-
fdf35ab36f99&utm_content=featuredvideo&linktype=title&channel=email&campaign_type=thomas_industry_update&campaign_name=tiu2
11018&utm_campaign=tiu211018&utm_medium=email&utm_source=thomas_industry_update&tinid=221763045
Additional links:
This ties nicely into my work - Clients/Customers are looking at the best way to integrate data into their reporting systems as well as ensuring
they are complying with various regulation filings as part of their GRC models -
Templates: https://ibm.box.com/s/nsbds2s5v8znpwqzc03p9urykbat38w0
Presentation: https://ibm.box.com/s/vmyitcackqevvm1hcxv7wke6gudrpnce

42. 42
Canada vs Australia

43. 43
Summary
• New normal is hear to stay - https://www.slideshare.net/paulyoungcga/new-normal-for-canada-
and-the-world-248752153
• Addressing issues facing the middle class - https://www.slideshare.net/paulyoungcga/how-is-the-
middle-class-doing-in-canada
• All levels of government need a new governance model that emphasizes the size of government,
value for money, oversight, transparent, and accountability -
https://www.slideshare.net/paulyoungcga/how-to-fix-the-goverance-model-for-the-public-sector-
government
• Addressing issues with the global economy including reforming UN, WHO, WTO, and other areas of
global policies to support a more inclusive economy -
https://www.slideshare.net/paulyoungcga/what-is-next-for-the-global-economy-may-2021
• Addressing issues with debt - https://www.slideshare.net/paulyoungcga/debt-issues-global-debt-
crisis-analysis-and-commentary-248282137

44. 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