Young Canadians ‘sacrificed enough,’ Conservatives say ahead of Carney’s first budget

The Conservative Party says Prime Minister Mark Carney is asking too much from young Canadians, warning the upcoming federal budget must not add to a decade of mounting economic hardship.

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The Conservative Party says Prime Minister Mark Carney is asking too much from young Canadians, warning the upcoming federal budget must not add to a decade of mounting economic hardship.

The criticism follows Carney’s remarks last week to a student audience, where he said their future “will not be the same as my past,” and hinted the government’s first budget would require “sacrifices.” Conservatives say that generation has already paid the price.

Citing housing data, the opposition points to soaring home prices and collapsing affordability. In cities like Vancouver and Toronto, average home prices are more than 10 times the median income, pushing required household earnings above $190,000.

Housing starts have slowed as costs mount, with the Canadian Home Builders’ Association reporting widespread layoffs across the sector.

Youth unemployment also surged, reaching 14.7 per cent in September, the highest level since 2010 outside of the pandemic. Summer job figures show student employment was at its weakest since the Great Recession.

A recent Desjardins report links the trend to a rapid increase in temporary foreign workers, warning the resulting oversupply of labour is putting further pressure on young jobseekers.

At the same time, the cost of living continues to climb. Rents rose nearly five per cent in September, with almost half of renters under 25 now spending more than half their income on housing. Grocery prices also rose four per cent, with fresh beef up 14 per cent year-over-year.

Food bank usage has hit a record high. In March, more than 2.1 million visits were logged, including nearly 712,000 by children. Nearly one in five users were employed but still relied on food aid to make ends meet.

Conservatives look to bring in more youth support with an event Thursday evening in Downtown Toronto, where Leader Pierre Poilievre will speak to an audience of young people at an event titled “No more sacrifices, youth event.”

Next Tuesday, Carney’s government is set to table the first budget.