A third of Canadians worry they will never enjoy the standard of living their parents did, says in-house Privy Council research. The stark finding follows 2023 Statistics Canada data showing inflation was eating away at young families’ finances.

The Privy Council study Pandemic Outlook And Recovery rated the cost of living the biggest worry shared by Canadians, cited by 69 percent of respondents, compared to climate change (63 percent) or the “possibility of a recession” (47 percent).

A total 2,000 respondents were asked, “At the moment how much do you worry about the following topics?” Thirty-six percent picked, “The possibility I won’t be financially better off than my parents.” Authors did not comment on the finding.