Canada’s parliamentary funds officer says the federal authorities is overestimating the impression its new immigration plan may have on the nation’s housing scarcity.
In October the Liberal authorities introduced it was chopping the variety of everlasting residents allowed into the nation between 2025 and 2027.
The PBO has beforehand reported that Canada must construct one other 1.3 million properties by 2030 to shut the housing hole — and at present it says the revised immigration plan will scale back that by 45 per cent, or 534,000 models.
The federal government has projected its new immigration targets will scale back that quantity by 670,000 models by 2027.
The Liberal plan to chop immigration ranges is anticipated to lead to a inhabitants decline by 0.2 per cent in every of the subsequent two years.
The PBO famous that will mark the primary time Canada sees an annual decline in inhabitants.
This report by The Canadian Press was first printed Nov. 15, 2024.
