Human Resources Minister Diane Finley says immediate action is required to ensure younger Canadians won’t be struggling to support the nation’s rapidly aging population.
Speaking to Toronto’s Canadian Club on Tuesday, Finley stressed the urgency of revamping Old Age Security lest younger Canadians be confronted with higher taxes or fewer social programs in the future.
“We will need to ensure that our government has the fiscal room to meet the various needs of an aging population … without putting an undue tax burden on younger generations,” she said.
The speech signals a marked shift in the way the federal government has been discussing proposed changes to public pension benefits.
Many of Finley’s points were directed at younger Canadians specifically. She repeated several times that it was them who would feel the effects of sweeping changes to OAS.
By 2030, she noted that Canada is expected to have more people over the age of 65 than under the age of 14. With the number of seniors slated to double, Finley said Canada must adapt to ensure it has the resources to support its population.
“We need to approach the future on our toes, not on our heels,” she said…
via Young people will pay price of inaction on OAS: Finley | CTV Ottawa | CTV News.
Job Market Monitor 
Discussion
No comments yet.