Canada is pushing for record immigration as the country deals with a labour crunch and an aging population, but athere may be unintended consequences if economic and social infrastructure growth does not keep pace.
While the growing population is positive news for the labour market and economic growth in the country, the TD report suggests this growth creates new challenges in several areas, including housing, infrastructure and healthcare. “To set the country up for success, policy needs to be balanced in ensuring an appropriate infrastructure is in place to bring the best out of workers and families. This way the economic pie won’t just grow in size, but the quality will increase as well,” it continued.TD estimates the housing shortfall could reach 500,000 units in just two years, and government policies meant to speed up the construction process are unlikely to fill the gap.
“In other words, housing supply will struggle to keep pace with Canada’s rapidly expanding population under each scenario,” the report states. “A meaningful improvement in affordability will likely remain elusive.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada bans some fossil fuel subsidies, meeting decade-old G-20 pledge - BNN BloombergCanada introduced guidelines to ban some fossil fuel subsidies, targeting those that disproportionately benefit oil and gas, solely support sector activities or endorse consumption of fuels that worsen climate change.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Federal farm lender says financial help coming for farmers affected by Western Canada drought - BNN BloombergFarm Credit Canada (FCC) says it will take steps reduce financial pressure on farmers in Western Canada affected by dry weather conditions in the region.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Nova Credit, which offers credit history to newcomers, launches in Canada - BNN BloombergNova Credit has partnered with Scotiabank to offer newcomers a “credit passport,” which allows customers to access their foreign credit history.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
TC Energy to sell 40% stake in Columbia Gas & Columbia Gulf for $5.2B - BNN BloombergTC Energy Corp. has agreed to sell 40 per cent of its stake in two pipelines, Columbia Gas Transmission LLC. and Columbia Gulf Transmission LLC., for $5.2 billion.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Investors should take on more risk in this market: Portfolio manager - BNN BloombergSigns of cooling U.S. inflation has one portfolio manager calling for investors to take on more risks in the equities and bond market.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Canadian Chamber of Commerce joins calls for extension of CEBA repayment deadline - BNN BloombergThe Canadian Chamber of Commerce and a coalition of industry associations have joined calls for the federal government to extend the deadline for small businesses to repay pandemic loans received through the Canada Emergency Business Account program.
Source: BNNBloomberg - 🏆 83. / 50 Read more »