Canada set to make drastic reductions in annual immigration targets
Canada will take the rare step of reducing its annual immigration targets on Thursday, according to a government source.
Barring any last-minute changes, the federal government is set to decrease the number of permanent residents to around 395,000 in 2025, 380,000 in 2026 and 365,000 in 2027, from 485,000 this year.
Prime Minister Justin Trudeau is expected to make the announcement on Thursday morning.
In late September, Immigration Minister Marc Miller said he was exploring the rare option of reducing the number of permanent residents allowed in each year while preparing the Immigration Levels Plan, which is usually announced by Nov. 1.
The targets have generally been maintained or increased for more than a decade, but with declining job vacancies, rising unemployment — especially among newcomers and younger people — and growing concerns about affordability, “there is certainly a world now in which we see reductions,” Miller said.
Immigration plays a key role in the country’s economy, with newcomers accounting for more than one-third of the workforce in industries such as accommodation and food services, transportation and warehousing, and the professional, scientific and technical sectors, according to Statistics Canada. The country’s aging population is another reason why there’s a high reliance on immigrants.
As such, the federal government’sImmigration Levels Plan annually maps out the number of permanent residents it wants to bring in for the next three years.
Economists and business associations had differing predictions with respect to Miller’s decision.
The Canadian Chamber of Commerce, which represents more than 200,000 businesses, in September said it would not be surprised if the targets came down. Bank of
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