A Quarter of Canadians Cite Cost of Living as Their Top Concern

A customer shops at a grocery store in Toronto, on May 30, 2024. The Canadian Press/Chris Young

Inflation and the cost of living are top-of-mind for Canadians as the country heads into the new year and a possible early election, a newly released survey suggests.

Twenty-five percent of Canadians polled by Ipsos earlier this month ranked inflation and the cost of living as their No. 1 concern, up five percentage points from the same time last year.

While health care occupied the second position at 17 percent, an increase of three points from 2023, financial matters overshadowed the remainder of the rankings.

Housing availability and affordability was cited as the top issue for 14 percent of survey respondents, followed by immigration, the economy, unemployment, and jobs all at 7 percent. Taxes, poverty and social inequality, and government debt each garnered 5 percent of the vote.

The most recent polling arrives following a tumultuous year-end for Prime Minister Justin Trudeau and the Liberal Party.

The resignation of Deputy Prime Minister and Finance Minister Chrystia Freeland from cabinet has left the Liberals in a state of disarray this month, with many MPs calling for Prime Minister Justin Trudeau to step down. NDP Leader Jagmeet Singh has subsequently announced his intention to support a non-confidence vote, which would lead to the collapse of the minority government with the support of the Conservatives and the Bloc Québécois.

More than 70 percent of Canadians say Trudeau should step down, according to an Ipsos survey released just before Christmas.

That sentiment was reflected in its latest poll when Ipsos asked which leaders would be best qualified to deal with their concerns. Trudeau came up empty on all counts.

“Canadians don’t see the current Liberal government as best to handle any of the top issues,” Ipsos Canada and public affairs senior vice-president Sean Simpson said in his Dec. 27 post announcing the survey results.

Conservative Leader Pierre Poilievre was chosen as the candidate best able to deal with inflation, the cost of living, housing, the economy, taxes, and immigration, while Singh was seen as the best leader to handle health care, poverty, and social inequality.

Green Party Leader Elizabeth May was chosen as the best person to deal with climate change. Like Trudeau, Bloc Québécois Leader Yves-François Blanchet also received no votes.

Simpson said more than one-third of respondents “believe none of the leaders are best to deal with the top three issues” of inflation (36 percent), health care (33 percent) and housing (33 percent).

A Dec. 20 Ipsos poll found that both the Liberals and the NDP currently have 20 percent each of the federal vote share. The Conservatives have more than double the support of the Liberals and NDP combined with 45 percent of respondents saying they would vote for the Tories in the next federal election.

The current 20 percent share of the popular vote for the Liberals,  represents the second-lowest figure in the party’s history, Iposos said. The figure mirrors lows not reached since 2011 when Michael Ignatieff was at the helm, with a vote share of 19 percent.