Overview

• The Canadian government will lower immigration targets by 21% next year, reducing permanent residents to 395,000 in 2025 and further decreasing to 365,000 by 2027.
• Temporary residents will be reduced to 5% of the total population by 2026, requiring a net loss of approximately 900,000 temporary residents.
• Economists predict the immigration cuts could ease housing market pressures and rent inflation, but may also impact Canada's labor force and economic growth.
• Immigration Minister Marc Miller acknowledged that the government should have acted sooner to address the rapid influx of temporary migrants.
• The policy shift reflects a response to public concerns over immigration's impact on housing affordability, healthcare access, and social cohesion.