CIBC World Markets deputy chief economist Benjamin Tal applauded Canada’s decision to maintain its immigration targets. Economists are urging Prime Minister Trudeau’s government to address the increase in temporary residents. In 2023, Canada admitted over 400,000 permanent and 700,000 temporary residents, according to a Financial Post report. The housing crisis has led economists to question the government’s plan for accommodating new immigrants. Last year, Canada set its immigration target at 500,000 for 2025 and 2026. Although this addresses housing concerns, Canada still relies on immigrants due to its aging population.
