More 'mixed legacy' stuff...
The mixed government legacy of Justin Trudeau
Ten years after taking office, the prime minister leaves Canada with a more progressive tax system and less child poverty while the broader economy has lagged.
A mixed macroeconomic legacy
Trudeau took office amid an economic slowdown largely driven by
falling oil prices. His government responded with an emphasis on stimulus spending and direct financial support to struggling industries and workers. Oil producing regions, and the country as a whole, emerged from that first crisis, mostly unscathed. But his government’s efforts at promoting longer-term sustained growth has met with much less success.
Canada’s GDP per capita, a key measure of economic progress,
has stagnated. While GDP growth itself has been positive, population growth has outpaced economic expansion, leading to weaker per-person gains. Before the pandemic, every previous Canadian recession since 1981 had been followed by above-trend per capita GDP growth. That pattern did not hold after COVID-19. By 2023, per capita GDP was about $3,000 lower than what historical trends would have predicted.
One of the key drivers of this stagnation has been underinvestment in productivity-enhancing sectors. The Bank of Canada
has warned that workforce training, labor-market efficiency, and competition policy require urgent attention to improve Canada’s long-term economic health.
Ten years after taking office, the prime minister leaves Canada with a more progressive tax system and less child poverty while the broader economy has lagged.
policyoptions.irpp.org
And another disaster story...
Livio Di Matteo: Justin Trudeau’s disastrous economic legacy in six charts
thehub.ca
And a bad news chart going the other way
Expanding government and the debt
Trudeau’s legacy will include the significant expansion of the size of the federal government and of the national debt under his tenure. Part of this was unavoidable: The pandemic years, when lockdowns resulted in a major contraction in the global economy, led to unprecedented fiscal interventions in countries around the world. New programs such as the Canada Emergency Wage Subsidy and the Canada Emergency Business Account were introduced in 2020 and, though designed to help people who lost their jobs and keep businesses afloat, came at huge cost to the federal coffers. Some also argued that while well-intentioned, they went too far, were poorly designed and were ripe for fraud. Overall, the federal debt almost doubled to $1.236 trillion in 2024 from $619.3 billion in 2015. Trudeau’s reign also saw a huge expansion of the
federal public service workforce, which increased to 367,772 employees from 257,034.
From Freeland to the TMX and EVs, the Financial Post takes a look at key moments in the outgoing prime minister's nine-year tenure. Read on.
financialpost.com