Canada Federal Budget poised to tackle difficult times

Justin Trudeau, the Prime Minister of Canada, is trying his utmost to spare Canadian citizens inconvenienced by an economic and industrial change. According to Craig Alexander, the chief economist of Conference Board of Canada, a number of workers have been disadvantaged by technical change and globalization. Trudeau discussed the subject in 2016 when he discussed Canadians’ retirement security. The PM reset eligibility for the Old Age Security to 65. He also expanded Canada Pension Plan and Guaranteed Income Supplement. He also discussed education and skills, saying that workers can be flexible. His government is assisting people to make a mid-career transition.

Switching your job profile can be vital. Southwestern Ontario’s manufacturing sector has been hard hit by globalization and forces of automation. Bill Morneau, the Canadian Finance Minister, and his expert panel focusing on economic growth gave a dire warning to the government. The report mentioned quick economic change. He added that almost 50 percent of all Canadian jobs are vulnerable to be automated over the subsequent 20 year timeline.

Lifelong learning

The CD Howe Institute authored a report cautioning against the “alarmist” predictions which involve considerable upheaval. The authors of the report concurred with the conclusion came about by Morneau’s advisory council. Both these reports concentrated on skills development and proper training. This approach has gained approval from a number of quarters. They all espoused lifelong learning and continuous education. The proposal by the advisory council was establishing FutureSkills Lab- a new institution- which will bring on the same page governments, non-profits, businesses and unions. The aim is to pursue innovative and new approaches to education and training.

A report published by University of Ottawa’s Institute of Fiscal Studies and Democracy found that about $14.2 billion was committed to training initiatives and skills during 2014 to 2015 fiscal year. The performance of such programs, however, was hard to assess due to insufficient reporting done by the federal departments.

Compulsory innovation

The Canadian Government should go ahead with its innovation agenda. This will make it much easier for both human resource talent and companies to live and also create jobs respectively all over the country. Trudeau’s efforts to attract foreign investment may attract new employers to Canada. It could also help the existing businesses to expand. This is important as the harsh economic change in a number of the country’s provinces has slashed livelihoods. These are the same wounds which led to people like Donald Trump ascending to power.

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