Canada has tabled the budget this week. Here are the key points related to immigration in Canada’s Budget 2024:
𝗧𝗲𝗺𝗽𝗼𝗿𝗮𝗿𝘆 𝗥𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝗧𝗮𝗿𝗴𝗲𝘁𝘀: The upcoming Immigration Levels Plan 2025-2027 will include targets for temporary residents, including temporary workers and international students. The government aims to reduce up to 600,000 temporary residents over the next three years to alleviate housing demand.
𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗖𝗿𝗲𝗱𝗲𝗻𝘁𝗶𝗮𝗹 𝗥𝗲𝗰𝗼𝗴𝗻𝗶𝘁𝗶𝗼𝗻: The budget allocates $50 million to the Foreign Credential Recognition Program. Half of this funding will support residential construction, helping skilled trades workers obtain necessary credentials to work in Canada or their settling province.
𝗣𝗲𝗿𝗺𝗮𝗻𝗲𝗻𝘁 𝗥𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝗧𝗮𝗿𝗴𝗲𝘁𝘀: Following the trajectory of the 2023-2025 plan, Canada aims to welcome 485,000 new permanent residents in 2024, with plans to increase to 500,000 in 2025 and maintain that level in 2026. The focus is on economic growth, family reunification, and addressing humanitarian crises.
In summary, while immigration spending was not the central focus of Budget 2024, there are provisions to support newcomers in finding affordable housing and integrating into the Canadian workforce.