“Kids these days.” As one of the younger MLAs presently serving in the legislature, I freely admit that when I hear this phrase, I cringe. We all know the stereotypes that spring to mind. Living in mom’s basement. Looking for work. Burdened by student loans and other debt.
Unfortunately, too many of these stereotypes are rooted in fact. Today’s youth are far less likely to own a home, far more likely to be mired in debt, and far less likely to find the kind of stable, full-time employment enjoyed by previous generations.
However, this hasn’t stopped the government from implementing several ideological policies that will hit youth the hardest.
As you may already know, Alberta’s minimum wage will increase to $15 on Oct. 1, capping a 50 per cent increase over the past three years.
When this plan was first announced, I warned that a rapid increase would hurt small businesses already blindsided by the recession, and young workers would ultimately pay the price. Unfortunately, this is exactly what has happened.
According to the most recent data compiled by Statistics Canada, youth unemployment remains Alberta’s most persistent concern coming out of the recession.
The unemployment rate for young men sits at 15.2 per cent, and unlike any other demographic, the unemployment rate for young women remains higher today that it was one year ago.
The consequences of this policy, however, will pale in comparison to the impact of the runaway public debt.
According to the Notley administration’s most recent financial plans, Alberta’s budget will not be balanced until 2023, at which time the debt will reach a staggering $90 billion. That’s when the bill really comes due, according to a team of researchers at the University of Calgary’s school of public policy.
Albertans will be forced to shell out $3.8 billion annually just to cover the interest, meaning that significant, generational tax increases are on the way. Who will be hit the hardest? You guessed it: Today’s youth. Over the course of their lifetimes, those who turn 16 in 2023 will be forced to pay out an additional $42,252. They were given no say in these policies, but are expected to pay the bill.
Kids these days. You know what their biggest problem is? Government. Just like the rest of us.
- Cooper is the UCP MLA for Olds-Didsbury-Three Hills
