Aging Population In Canada Essay

Aging Population In Canada Essay-74
Across all scenarios, it is clear that immigration is an essential component, and that improving the fertility rate — 1.6 births per woman in 2015 — is not enough to maintain the economy.In the report’s most optimistic scenario, it is projected that Canada inviting up to 413,000 immigrants per year by 2030 will result in the strongest economic growth.Aging is thus a huge challenge to responsible public finances in Canada in the coming decades.

Across all scenarios, it is clear that immigration is an essential component, and that improving the fertility rate — 1.6 births per woman in 2015 — is not enough to maintain the economy.In the report’s most optimistic scenario, it is projected that Canada inviting up to 413,000 immigrants per year by 2030 will result in the strongest economic growth.Aging is thus a huge challenge to responsible public finances in Canada in the coming decades.

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“If the growth in immigration levels that we saw from 2015 to 2016 repeats itself in the coming year, it could surpass that most optimistic figure by 2017,” says Attorney David Cohen.

“Prospective immigrants to Canada may be encouraged that statistics and research support the Goverment’s agenda to increase immigration.

She says, "Diverting service delivery away from the traditional hospital model, which is expensive, heavily unionized, and therefore difficult to manage efficiently, towards smaller clinics would save dollars and provide better patient care." She also recommends a number of other targeted strategies such as moving patients from emergency rooms to primary health clinics, changing the payments for doctors from fee-for-service to salaries, re-classifying some portion of healt care spending so that it is a taxable benefit for individuals, and encouraging provinces to co-operate to limit salary increases for health care professionals.

Drawing inspiration from the successful welfare reform of the 1990s, Jason Clemens argues that the federal government needs first to reform the health transfers to the provinces more extensively than what has already been proposed by Finance Minister Jim Flaherty.

That number, argues the report, is not sufficient to sustain a strong economy and support an aging population.

The subsequent slowing in economic growth will impact revenue for governments, and consequently job creation and social services.‘Growing Canada’s population through immigration boosts economic growth and softens the economic burden of a rapidly aging population and low birth rates in Canada,’ concludes the report.The figure of 413,000 new immigrants per year by 2030 proposed in the report’s most optimistic scenario is well within the realm of possibility for Canada.For example, if more men and women come to start careers and families in Canada, the country may benefit from their economic input and the input of their children for future generations.The report declares that although immigration may not entirely solve the challenges posed by Canada’s aging population, nevertheless new immigrants are essential in order to reduce the side effects.This scenario — in which Canada’s population increases to 100 million by the year 2100 — ‘results in a sharp increase in Canada’s potential output over the long term,’ states the report.Under this scenario, the increase in economic growth results in greater revenue for the provincial and federal governments.As Canada’s population ages, more pressure is put on social welfare systems to support the elderly.In the meantime, more jobs may become available as workers retire, and an influx of young families and workers is needed to fill these positions.Increasing the Canadian population will ‘cushion the impact’ of economic consequences of overall population aging, the report states, adding that inviting more immigrants to enter the workforce will ‘boost Canada’s labour force and generate stronger long-term economic growth’.Economic growth may be strengthened in the long term because inviting qualified, working-age individuals — rather than focusing on increasing the fertility rate — provides a faster and effective solution to a shrinking pool of workers.

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