A growing number of critics are challenging the logic behind Ottawa’s great immigration ambitions
Economists are asking that question with increasing intensity – and for good reason. Canada’s population jumped by more than a million people last year. The surge was the largest annual increase in the country’s history, and one that was driven nearly entirely by immigration.
Prominent business economists say they are baffled by the government’s insistence on sticking to supersized immigration quotas at a time of widespread housing shortages. Stéfane Marion, chief economist at National Bank of Canada, and David Rosenberg, president of Rosenberg Research, have urged Ottawa to consider revising its targets to allow housing supply to catch up to demand.
There is also morality to consider. On paper, it’s possible to show that a country can generate an “immigration surplus” by bringing in masses of low-skilled workers to take menial jobs. This underclass of low-paid immigrants can free up the existing population to pursue better-paid occupations. Unfortunately, for the pro-immigration camp, there is no evidence that it does much of anything to help accelerate growth in GDP per capita.
“Using evidence for Canada and the U.S., we find either a negative relationship, or no relationship, between periods of high immigration and subsequent growth in GDP per capita,” they wrote in their paper.
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