Canada to recruit 400,000 new immigrants a year to boost economy

Canada has announced that it will increase immigration into the country and simplify the process in order to help the economy recover and grow

Canada aims to accept over 400,000 permanent residents each year under the 2021-2023 Immigration Levels Plan. The focus of the new plan will be geared towards economic growth, with the Economic Class accounting for 60% of new admissions.

The new Canadian migrant visas are aimed at increasing numbers of people through the following programmes:

·        Self-Employed Persons Program

·        Federal Skilled Trades Program

·        Federal Skilled Worker Program

·        Canadian Experience Class  

·        Start-up Visa

In recent years, Indians have made up the largest nationality to obtain permanent residency in Canada. Migrants have been helped by a more straightforward path to citizenship, as well as schemes aimed at attracting entrepreneurs and highly skilled workers.

According to immigration analysts, the main reason behind increased migrants from the US to Canada is the confusion surrounding the H-1B scheme, as well as the extremely long waiting times for a US green card for Indians.

Immigration is critical for Canada, not only for surviving the pandemic, but also to short-term and long-term economic recovery and growth

Marco E. L. Mendicino, Minister of Immigration, Refugees, and Citizenship said, “As we look to the future, newcomers create jobs not only by providing our businesses with the skills they need to thrive, but also by starting their own businesses.” He added, “Our plan will help to address some of our most pressing labour shortages while also increasing our population to keep Canada competitive on the global stage.”.

To fill critical labour market gaps and remain competitive on the global stage, the 2021-2023 levels plan aims to welcome immigrants at a rate of about 1% of the Canadian population, including 401,000 permanent residents in 2021, 411,000 in 2022, and 421,000 in 2023.

While Immigration, Refugees and Citizenship Canada (IRCC) continued to accept and process applications throughout the pandemic, global travel restrictions and capacity constraints resulted in a shortfall in admissions in recent months.

In my Money Tips Podcast this week, I interviewed Toronto native, Jas Takhar, co-founded the REC and real estate firm Royal LePage.

Jas, who runs one of the leading real estate companies in Canada and is the author of the book Real Estate Intelligence, pointed out that around three times more homes will need to be built to accommodate new arrivals as well as fast-growing local demand in a hot property market.  

Canada has been a popular destination for migrants from all over the world including Hong Kong, India, The Philippines, Africa and European countries. This is due to a number of factors, such as Canada’s strong economy, migrant friendly policies and healthcare, but especially because their route to permeant residency and Canadian citizenship is so much faster easier than in other countries.  

The UK is also opening up new immigration routes post-Brexit having abandoned former Prime Minister David Cameron’s 2010 target of cutting net migration to the “tens of thousands”.

However, the UK government has pledged to clamp down on illegal immigration with plans to reduce the number of appeals against deportation.

UK lockdown slowly coming to an end giving hope to a battered economy.

See also:

Immigration Rule changes opens door to recruit overseas health and senior care staff to work in the UK

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