Fewer immigrants could have economic impacts as Canadians age
Darpan News Desk The Canadian Press, 30 May, 2024 10:00 AM
An RBC economist says high levels of immigration are helping blunt the economic impact of Canada's aging population even though it's causing concerns about housing affordability and other challenges.
RBC economist Carrie Freestone says fewer immigrants could have economic impacts as Canadians age and retire gradually.
She says even as older people retire and stop contributing to the economy, they will still be consuming.
This creates a gap between the income that the government receives and spends on public services such as health care.
Prime Minister Justin Trudeau is announcing the opening of a major vaccine production plant in Toronto today — part of Canada's efforts to build up the domestic biomanufacturing sector in the aftermath of the COVID-19 pandemic. The new Sanofi facility is the largest in Canada and is expected to significantly increase Canada's domestic production of pediatric and adult vaccines for whooping cough, diphtheria and tetanus.
The leadership of a First Nation on British Columbia's central coast says an RCMP officer has been transferred after the community called for his removal from Bella Bella over social media comments he made before joining the Mounties. A statement posted by the Heiltsuk Tribal Council on Wednesday says RCMP told the nation that the transfer process for the constable was complete and he would be leaving the community this weekend.
Turner Valley RCMP in Alberta say one person is dead after a glider aircraft crashed on Wednesday afternoon, south of Calgary. Police say they received a 911 call advising that a small non-motorized glider aircraft had crashed in a field south of Highway 7 and 112 Street, west of Foothills County near Diamond Valley.
The mayor of Kamloops will no longer speak for the city, after council passed a resolution stripping him of his position as its official spokesman. The decision comes after more than a year of conflict between Mayor Reid Hamer-Jackson, council, and city staff, including allegations that the mayor has poor communication skills, won't accept responsibility, ignores confidentiality protocols, and misunderstands the rules around conflict of interest.
British Columbia has failed to make an appearance in a new list of Canada's most affordable cities. The Royal LePage report found Quebec City and Edmonton are the top choices for relocation due in part to their lower costs of living.
Mounties in Prince George say an investigation has led to the seizure of drugs and various weapons from two homes. They say quantities of drugs, including suspected fentanyl, were found during the search on May 14th. Mounties are calling it a "significant blow" to the illicit drug trade in Prince George.
