Canada’s Aging Population Could Cost $2 Trillion Over 40 Years: Think Tank

Canada’s aging population could pose serious financial problems for the country’s provinces, culminating in a budget liability of more than $2 trillion as the growth rate of seniors outpaces working-age individuals, according to a new report. A combination of slower revenue growth from a smaller workforce and the escalating costs of providing health care for seniors will place Canadian governments in a financial squeeze, according to the report from the C.D. Howe Institute. The cost is expected to add up to $2.03 trillion over the next four decades. “The financial sustainability of Canada’s provincial governments is at a critical juncture,” report authors William B.P. Robson and Parisa Mahboubi said in a press release. ...