Under current projections, Canada’s working-age population - those 15 to 64 years of age - will start to decline in about 15 years. 2  BIS Review 56/2003  Given this demographic outlook, there are two points to be made. The first is that we need to continue to lower our ratio of public debt to GDP.
This will help to ensure that Canada will be able to support its growing elderly population. The second point is that we will need to make adjustments to help us deal with a labour force that will soon be shrinking in relative terms and, ultimately, in absolute terms as well. What kinds of adjustments?