Amid Canada’s housing crisis, immigration needs to be slower, more focused
High expected immigration is the main reason that Canada’s total output will likely increase by 1.5 per cent annually in 2023 and 2024, according to the headline numbers from the International Monetary FundBut that document also includes the predicted changes in output per person. That is a better measure of the change in the average standard of living, as it adjusts for Canada’s high population growth.
Immigration in general can be good for the economy. The fact that per capita GDP is expected to decline amid heavy immigration doesn’t mean that those already in Canada will on average be worse off; a good part of the reduction in that metric is due to low-income migrants bringing down the average. , immigration may bring important macroeconomic advantages. Immigrants can bring new ideas and entrepreneurship.that these very high rates of immigration are the only way to prevent large increases in the proportion of the population that is 65 and over. Permanent immigrant families will also help share the national debt, especially as they experience increases in productivity and income.
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