The Canadian federal election is now over, but the lessons that must be learned from the way Canadians voted are just beginning. Although Mark Carney’s Liberals are back in government, they shouldn’t ignore some very serious concerns expressed by Canadians during this election campaign, particularly when it comes to the cost of living and affordability.
Looking at the last Abacus polling before the election was decided, the data clearly shows that 45 percent of overall Canadians ranked “reducing your cost of living” as their top issue going into the polls. Second to that was “dealing with Donald Trump and the impact of his decisions” at 30 per cent. But things are somewhat different when you look at the age breakdown of voters’ concerns.
At a more micro level, you’ll see that the top concern for voters aged 60 and over was dealing with US President Donald Trump. The second top issue for voters 60 and over is “reducing your cost of living.” The best way for Carney to tackle both of those concerns in the near term is to deliver on his promise to break down interprovincial trade barriers. This would strengthen the Canadian economy, lower prices, and enhance our ability to diversify Canada’s economy away from dependence on the Americans.
In contrast to the “boomer” vote, Gen Z (or those aged 18-29) made its mark by only having the Trump issue come up as third in their list of concerns. Beating that out was the cost-of-living crisis at 38 per cent, followed by the housing crisis at 35 per cent. This is not a surprise, since the affordability crisis is hitting young people hard, and their prospect of actually one day owning a home continues to dwindle. In a 2024 Leger poll, 45 per cent of Gen Z respondents said they were living paycheque to paycheque, and 71 per cent believed previous generations had a better chance at success financially.
Furthermore, 73 per cent of Gen Z respondents said they are renting because they are unable to buy property, and 64 per cent of them reported living with their parents because they are unable to afford rent. It’s no wonder housing is their number two priority as they struggle to accept a future where they will not be able to buy a home. If Carney wants to build more bridges with this important voting bloc, he must get more serious about issues the Consumer Choice Center has been advocating for for years, namely backing away from their plans of getting the government even more involved in the business of building homes, and instead lessening the red tape and bureaucracy required and allow developers to actually build houses. The government has never been good at dictating how and when and where housing needs to be built. Why should Gen Z, or any Canadian, trust them to do the right thing this time around? With a crisis this big, Carney needs to turn to solutions that will actually work to solve the housing crisis.
Election day often seems like an end, the finishing line of a long and tedious process. However, it is really the beginning of Carney’s minority proving to Canadians that the Liberals should still be in power. Without a majority, the government will have to work harder to maintain the confidence of not only members of the opposition, but Canadians as well.
With concerns from Canada’s oldest residents about Trump and tariffs, to young people’s dreams of one day living comfortably and even owning a house, there is much to be done, but the framework of how to achieve success in these files is already here. Time will tell if the Carney Liberals put Canada first or waste more time for consumers just trying to get by.
Jay Goldberg is the Canadian Affairs Manager and Sabine El-Chidiac is the Canadian Policy Associate at the Consumer Choice Center
