Reducing temporary immigration to Canada may have adverse effects on the nation's economic growth, warns an RBC Economics report. Nathan Janzen, a senior economist at RBC, highlights the importance of immigration in expanding the economy's capacity and stimulating demand for goods and services. Slower population growth could lead to a reduction in both the demand and supply of workers, ultimately impacting overall economic productivity and income levels. Immigration, Refugees and Citizenship Canada (IRCC) data shows a tripling of temporary immigration during the early stages of the COVID-19 pandemic, albeit contributing to housing affordability challenges. In response, Immigration Minister Marc Miller has capped study permit applications at 606,250 for the current year, a 40 percent reduction.
For further insights into recent developments in Canadian immigration policy, take a look at our previous article titled "IRCC Announces Changes in Permanent Residence Fees." This article provides additional perspective on recent policy changes affecting immigration in Canada.
For further insights into recent developments in Canadian immigration policy, take a look at our previous article titled "IRCC Announces Changes in Permanent Residence Fees." This article provides additional perspective on recent policy changes affecting immigration in Canada.