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Federal Budget 2017

With uncertainty stemming from a new U.S. administration, the Canadian federal government opted for a “stay the course” approach in its budget, introducing few new measures. The latest budget outlines in greater detail spending measures that were either announced in last year’s budget or more recently revealed, as in the case of increased transfers to provinces for home care and mental health initiatives. This budget will add $3.5 billion to deficits over the next five years.

Features

Arm and hand holding an open umbrella  

Canada’s Banking and Insurance Industries

We have added two new industries to our Canadian Industrial Outlook roster: banking services and insurance. The first outlook for the insurance industry forecasts that slower consumer spending on big-ticket insurable items, as well as an aging population, will weigh on Canadian insurance firms. Meanwhile, Canada’s banking industry will be limited to 2.4 per cent real GDP growth this year amid a slowdown in consumer and business credit growth.

 
Footprint made from leaves  

Canada’s Future Low-Carbon Economy

Canada’s commitment to reduce greenhouse gas emissions brings with it a commitment to improve the way we produce, transport, and consume energy and influences all sectors of the economy, government actions, and household decisions. The transition to a low-carbon economy should aim for steady, progressive change over time, building on a strategy that includes a strong energy sector. Our recent briefing outlines what this transition might look like and the policies and practices that will guide it along the way.

 
Nurse with stethoscope holding a clipboard  

Demand for Nursing Services Rising Faster Than Supply

Canada’s aging population will cause a dramatic rise in demand for continuing care. Demand for nursing services is expected to increase at a much stronger pace than the supply of nurses, with overall demand for nursing services projected to increase from just under 64,000 full-year jobs to 142,000 full-year jobs by 2035—an annual growth rate of 3.4 per cent. Finding ways to address the labour demands for nursing will be essential for Canada to successfully meet the care needs of its seniors.

Woman looking at shelves of pill bottles  

The Value of Consumer Health Products

Removing the need to obtain a prescription from a physician for select medications can help improve access for some Canadians through greater convenience and lower costs. Switching three specific drug categories (proton pump inhibitors to treat gastroesophageal reflux disease, oral contraceptives, and drugs for erectile dysfunction) to over-the-counter medications could represent a cost savings of $1 billion annually for Canadians, Canada’s health care system, insurance providers, and employers combined.

 
Physiotherapist helping woman stretch a band over her head  

Shortage of Physiotherapists Limits Access for Some Canadians

The number of Canadians that have consulted a physiotherapist has been steadily growing over the last few years, and demand for these services may be outstripping supply in certain areas of the country. While growth in the employment of physiotherapists has been keeping pace with the sharp increase in demand to date, it has been largely concentrated in the urban centres of the most populated provinces, leaving those on the outskirts underserviced.

Car with 1s and 0s on the metal  

Automated Vehicles Conference: Planning the Next Disruptive Technology

Automated vehicles, or driverless cars, are a disruptive technology that is poised to change the ways in which people and goods are moved. To ensure a positive transition, the time to start planning is now. Experts from across Canada and abroad will share their insights on how to proactively manage the transition to a transportation sector that includes AVs. Join the discussion at our Automated Vehicles 2017 conference, April 19–20 in Toronto. The conference will include a keynote address from the Honourable Marc Garneau, Minister of Transportation, on Canada’s leadership role in the transformative industry.


CBoC Highlights

Craig Alexander speaking Carlos Murillo speaking
Craig Alexander, Chief Economist, The Conference Board of Canada, weighs in on Federal Budget 2017 in this interview with CTV. Carlos Murillo, Economist, The Conference Board of Canada, joins Bloomberg to discuss the economic outlook for Canada’s natural gas industry.
   
Marie-Christine Bernard speaking Video still of Facebook Live chat
This infographic breaks down some of the human capital trends and metrics on talent management practices observed in our latest HR Trends and Metrics report. Michael Keaveney, Regional Director, Ireland and the U.K., The Conference Board Europe, joined our Leader’s Roundtable sessions in Berlin to discuss Brexit and migration.

In This Issue

  • Federal Budget 2017
  • Canada’s Banking and Insurance Industries
  • Canada’s Future Low-Carbon Economy
  • Demand for Nursing Services Rising Faster Than Supply
  • The Value of Consumer Health Products
  • Shortage of Physiotherapists Limits Access for Some Canadians
  • Automated Vehicles Conference: Planning the Next Disruptive Technology

Previous Issues


Keep Up to Date


Popular Reports

Provincial Outlook Executive Summary: Winter 2017
(February 2017)

Finding the Win-Win in Major Project Agreements: Lessons From Indigenous Groups and Industry Proponents
(March 2017)

Future Care for Canadian Seniors: A Primer on Nursing Supply and Demand
(March 2017)

Talent Management Benchmarking: Human Resources Trends and Metrics, Fourth Edition
(February 2017)

Recent Op-Eds

Canada’s Agri-Food Sector Is Growing, but Supply-Managed Sectors Are Lagging Behind, The Globe and Mail, March 22, 2017

Can Ukraine Reinvent Itself?, The Globe and Mail, March 8, 2017

What Is Canada’s Economic Game Plan With China?, The Globe and Mail, February 21, 2017

Latest Blogs

Inadequate Savings—Not Trade Deals—Account for Much of U.S. Trade Deficit

April 28, 2017

Communities and Educators Are Key Players in Realizing Canada’s Global Sustainable Development Commitments

April 25, 2017

Four Ingredients for Cultivating Vibrant Campus-Community Connections

April 06, 2017

Upcoming Events

Enterprise Risk Management 2017: Succeeding in Fast, Furious, and Turbulent Times
April 10–11 | Toronto

Reshaping Energy 2017: Opportunities and Impacts of Reducing Canadian GHG Emissions
Apr 11–12 | Ottawa

Automated Vehicles 2017: Planning the Next Disruptive Technology
Apr 19–20 : Toronto

Resilience 2017
Apr 24–26 | Edmonton

Whole Health Innovation Collaborative Meeting: Applying Precision to Preventative Health and Personalized Medicine
Apr 25 | Toronto

Evidence-Based HR 2017: Combining Data, Analytics, and Experimentation to Transform HR
Apr 25–26 | Toronto

Healthy Canada Conference 2017: Access to Affordable Medicines
Apr 26–27 | Toronto

Webinars

Lifelong Learning for Sustainable Development: The Role of Cities and Educators in Building a Lasting Future
May 03 at 10:30 AM

The Dragon’s Fire: Hot Sectors in China’s Economy for Canadian Businesses
May 08 at 2:00 PM

How Am I Being Influenced? The Newest Trends in Marketing
May 11 at 11:00 AM