Canada Should Increase Rate of Immigration Says New Report
Canada should raise the number of immigrants that are coming to the country every year, says a recent report.
The Conference Board of Canada has given reasons as to why the immigration rate of Canada should be increased by one percent of its population by the beginning of 2030. A number of people immigrate to Canada through the Express Entry system.
The first and foremost reason is to offset the rate at which the population of Canada is aging and to provide with enough labour force that meets the need of the market and maintain the desired economic growth rate of Canada.
To bring in new immigrants at the rate of 1% of total population the country will have to make 415,000 new admissions every year, as the population of Canada will be nearing to 42 million by the year 2030. If you want to immigrate to Canada than you can do this by applying for Express Entry system.
according to the authors of the report, Kareem Al-Assal and Daniel Fields of the Conference Board National Immigration Center, looking at the current demographic trend, increase of 1% in the population growth rate of Canada will enable the country to replicate its population and support modest labour market and economic growth in the long term.
In the November of 2017, a magnanimous multi-year immigration levels plan was set up by Canada and because of which Express Entry system immigration to the country is planned to be increased to 340,000 by the year 2020.The amount of immigration comprises of 0.9% of the total population. The target of 2018 is 310,000 new immigrants which will give it a growth rate of 0.84%.
No Immigration as compared to 1% Increase
The latest report highlights the point that has been raised by the government of Canada, its provinces, economists and business leaders, which is to increase the rate of immigration to overcome the deficit in labor caused due to aging population.
It has been found that in case the Express Entry immigration to Canada is stopped than the labour market of the country will shrink. This will ultimately reduce the average annual GDP growth rate of the country to 1.3% by the year 2040.
This is not all, as there will be a decline in the number of tax payers and it will make it difficult for the federal government and the provinces to provide for basic public services, such as health care. This will be the case as the number of tax payers will reduce.
