A report released by the Ontarian government has revealed that an ageing population and shrinking workforce will combine to challenge the Canadian province’s economy over the next 20 years.

By 2030, it is expected that seniors will make up 22% of Ontario’s population, up 8.3% from their current number. In the same time period, the working-age population is expected to shrink from 69.4% to just 61.5%, meaning “immigration will continue to drive Ontario's population growth, which is expected to add another 3.7 million people and reach 16.7 million by 2030”.

“Slower population growth and an aging population suggest that there may be slower economic growth than Ontario has experienced in the past, making capital investment and productivity growth more important for future prosperity,” stated an assessment of the report by the Canadian Press.