Federal parties need to woo younger demographics for the winning vote: Expert
Money worries and affordability issues have become key themes in Canada’s federal election campaign, so BNN Bloomberg is asking voters from different demographic segments what specific concerns they hope political leaders will address.
From housing affordability to healthcare costs, here’s a look at the election issues that Canadian millennials in their late 20s and early 30s are watching when it comes to their personal finances.
Ellen Snook, 25, human resources associate
Halifax, Nova Scotia
“As housing prices rise, and tuition costs and student debts continue to increase, thinking long term is difficult. Young professionals have more personal finances to monitor than ever. This election, an appealing platform will be one that includes realistic solutions to aid young professionals with student debt, for example, partial forgiveness for future and existing federal student loans, and affordable housing alternatives and options; such as increasing the tax credit for first-time homebuyers will allow me to plan for the future.”
Noel Ymeraj, 30, senior financial analyst
“In the current economic conditions, it is important for me to see how candidates will tackle the massive housing problem. With housing and rental prices ever-increasing, combined with a lack of clear solutions by both provincial and federal governments, a massive bubble has formed that has left many of us, especially young up-and-coming professionals, unable to afford even a small condo unit. Promises like taxing vacant homes owned by foreign investors by one per cent, in my opinion, will not do much to help affordable housing. I’ll be watching to see if any of the running candidates from all parties will put forward a good resolution to this issue.”
Valerie Spitznagel, 25, community associate
“Healthcare benefit plans are very important to me as a young adult. In this upcoming federal election, I am looking for healthcare benefit plans from the government. This would relieve some of my current personal finance stress. I know this would be beneficial to me and those around me, especially because mental health problems are on the rise amongst young adults. It’s important to me to have access to more affordable options.”
Arash Randjbar, 26, content strategist
“If there’s one thing that’s top of mind this election, it’s housing affordability. Look, I get it, personal finances are personal, there is no substitute for financial responsibility. But across the country, millennials are fighting harder and harder to stay in the middle class. We work second jobs, we live with roommates, and we rent out our rentals on Airbnb, just so we can afford rent. And they wonder why millennials aren’t having kids.”