Thank you, Mr. Chair.
There isn't a topic, because we don't have an agenda for an out-of-camera portion here, but thank you for your consideration.
We know that Stats Canada released new numbers showing that for the eighth time in nine quarters Canada's GDP per capita had dropped. Why is GDP per capita important? What the government talks about a lot is GDP, yet GDP per capita is actually relative to the productivity of a country. It is also relative to how people are doing in their households. We know that the GDP per capita of Canada has gone down over the last nine years. We know that Canada's productivity has gone down. The OECD actually has Canada on track to be one of the least productive countries over the next many years, unless there is a substantive change in fiscal and economic policy made by the government.
The GDP per capita for Canada has now fallen more than for any other G7 country since the year before COVID. This is the direct result of higher taxes on everything from capital gains to energy and work. There are higher taxes on everything. Also, the debt has grown more during these nine years of this government than at any other time, accumulated from all the previous governments in Canada.
The gap between U.S. and Canadian incomes is now worse than at any time in the last century, as the average American now earns $20,000 more than the average Canadian. This is a substantial difference. We had testimony here recently from one of the witnesses on the housing study. When we were asking about losing business here in Canada to the U.S., and why we were losing that to the U.S, he referred to the fact that that was true, and that we were also losing workers, because of the opportunity, but also even just because the cost of living was less. I think one witness referred to his son potentially even looking at that. This is real, when we're losing opportunity in Canada and when businesses are looking to the U.S.
Recently, we even had Mark Carney's company saying that they're going to be moving Brookfield out of Canada to the U.S., which is absolutely interesting considering that Mr. Carney is one of the top advisers to the Prime Minister. I think he's called his top economic adviser, and yet he's moving that company to the U.S. That was just announced. That's really quite interesting.
We know that when we look at the GDP per capita, this means lower wages in comparison to the U.S., which means Canadians can afford less, and there's less they can spend on food, housing and basic necessities. We also know that governments can afford less for schools and hospitals. These are the direct results of that.
We know that Canada is falling behind other countries because of weak business investment, a lack of competition and a failure to really look at the workforce and to lower taxes. This lower GDP per capita is a made-in-Canada issue. The current government quite often will blame so much on everyone else, including global factors. There is some of that, but really, when you look at GDP per capita, when you look at tax increases, there is so much that we can look at that is a direct result of policies of this current government. Lots of these issues are made-in-Canada issues.
We know that there's been investment has has been driven out of the country for everything. We look at housing being so much less in the United States. We know that fuel costs less. The United States doesn't charge a carbon tax on the fuel that their citizens use. Really, Canadians deserve better, and we're really falling behind other countries, in particular the United States.
We know as well that when we look at EI, for example, employment insurance, it does come through this committee as well, which is why it would be really important to have the minister come here for longer than an hour. His portfolio covers so much that we need to ask him about.
In August, just under 500,000 Canadians were claiming employment insurance. That was the fourth consecutive monthly increase, and an increase of 26,000 people from the same time last year. As a result of this, Canada reached a 20-month high in the number of people who were claiming EI. We also know, as part of this, that the largest group of people who are collecting EI are young adults, so we can see why young adults are struggling, having mental health issues and losing hope of ever being able to afford a home or being able to have a good lifestyle. It's incredibly sad, which is why you're seeing so many young adults who are coming out en masse not in favour of the policies of this government.
We know that, in September, the labour force survey showed that, year over year, employment had only increased by 313,000 people, while the working-age population surged by 1.2 million, leaving an enormous employment deficit. Since January 2023, Canada's employment rate has followed a downward trend, falling by a full percentage point. We also know that Canada's GDP per capita is currently on track to decrease again, so unless there are substantive economic and fiscal policy changes made by this government, all of the trajectories aren't looking positive, in particular for our young adults.
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