Here is my economic and fiscal look at Canada for December 2023 and January 2023

1. Fiscal and Economic
Scorecard – Canada
– January 2023 and
December 2022
Paul Young CPA CGA
February 28, 2023

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@ca.ibm.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/

3. 3
Agenda
• Key Metrics
• Employment – Canada
• Trade – Canada
• Manufacturing – Canada
• Housing – Canada
• Cost of Living / Canada
• Electricity
• Fiscal Update / Canada
• Blog – ESG Reporting
• Summary

4. 4
Key Metrics

5. 5
Key Metrics

6. 6
Key Metrics

7. GDP by Industry

8. Employment / Analysis

9. Stats Canada - Trade

10. 10
Manufacturing Sales – Canada
Source – Stats Canada

11. 11
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
•

12. 12
Real Estate and Housing

13. OECD and Inflation

14. Summary - Inflation

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

16. 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.

17. Bank of Canada / Monetary
Policies

18. 18
Commodities

19. 19
Job Vacancies
Source – CIBC and Stats Canada

20. 20
ESG Reporting
Blog - Opportunity knocks for firms as ESG reporting, assurance levels rise. -
https://www.linkedin.com/posts/paul-young-055632b_opportunity-knocks-for-firms-as-esg-reporting-
activity-7036271928411639808-YYAt?utm_source=share&utm_medium=member_desktop
https://www.journalofaccountancy.com/news/2023/feb/opportunity-knocks-firms-esg-reporting-assurance-
levels-rise.html
This ties nicely to my blog on IOT and Sustainability - https://www.linkedin.com/posts/paul-young-
055632b_the-top-10-technology-trends-to-watch-in-activity-7036269916559196160-
RXhi?utm_source=share&utm_medium=member_desktop
The standards will continue to evolve over time. There could eventually private standards like there is for
small to medium-size businesses for accounting rules - https://nelliganlaw.ca/articles/ifrs-how-it-impacts-
your-small-to-mid-size-business/. Private companies may have a trim down version of the global ESG and
Sustainability standard similar to ASPE rules for accounting disclosures

21. 21
Summary
• Canada like many countries around the world continues to face many challenges
Blog – Fiscal and Economic Scorecard for Canada – January 2023 and December 2022
20232802_GDP_Can
ada.pdf
GDP income and
expenditure.pdf
Canada GDP continues to face many challenges - https://www.fxstreet.com/news/canadian-gdp-
preview-forecasts-from-six-major-banks-economy-cooling-but-not-stalling-202302271514
Canada needs to do more to make itself key FDI in areas like clean technology, forestry, advance
manufacturing, oil and gas, agriculture, and mining -
https://www.marketscreener.com/quote/stock/BANK-OF-MONTREAL-1409224/news/BMO-Notes-
Canada-s-Current-Account-Deficit-Worsens-in-Q4-Sees-Deficit-Staying-Manageable-in-Next-43099398/
Canada needs to address issues with low productivity and lack of innovation spending –
https://researchmoneyinc.com/article/new-innovation-agency-s-success-hinges-on-its-private-sector-
leadership-experts-say or
More needs to be done to address the government delivery model and tax fairness as part of the fiscal
management cycle - https://macdonaldlaurier.ca/size-of-government-in-canada/
AI and Supply Chain - https://www.thestar.com/business/opinion/2023/02/28/artificial-intelligence-
could-provide-a-solution-to-canadas-supply-chain-troubles.html
Canada needs to do more to promote is oil and gas sector as part of the overall climate change agenda -
https://calgaryherald.com/opinion/columnists/varcoe-oil-prices-allows-alberta-to-cut-debt-spending
GDP - https://www.slideshare.net/secret/hRDGcABrTjcxtW
Canada Prime Rate
History (1935 - February 2023) WOWA.ca.pdf
Globe editorial The
big banks’ dependence on housing undermines Canada’s prosperity - The Globe and Mail.pdf
How Canada's
grocery oligopoly dulled competition, fuelled inflation Financial Post.pdf
Diane Francis
Corporate Canada gets good grades for exiting Russia.pdf
BMO Notes Canada's
Current Account Deficit Worsens in Q4; Sees Deficit Staying Manageable in Next Quarters MarketScreener.pdf
Biden’s ‘Buy
American’ measures require Canada to improve competitiveness iPolitics.pdf
Corporate ESG
reporting and assurance increase, but inconsistencies remain Accounting Today.pdf
Propose Federal Rent
Control Blacklock's Reporter - Governance.pdf
Canadian GDP
Preview Forecasts from six major banks, economy cooling, but not stalling.pdf
Research Money
Inc..pdf
Size of government
in Canada Macdonald-Laurier Institute.pdf
AI could provide
solution to Canada’s supply chain troubles The Star.pdf