ICYMI - Diane Francis: Can Canada's welfare state survive Trudeau's immigration targets?
to admitting a record 431,000 immigrants in 2022. That number doesn’t include the many “non-permanent residents,” such as guest workers and international students , who all need places to live, and some of whom gain access to Canada’s crumbling and understaffed universal health-care system.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
According to Benjamin Tal, managing director and deputy chief economist at CIBC Capital Markets, “Any discussion regarding thein Canada starts and ends with references to the growing number of new immigrants and to the government’s aggressive targets that are aimed at lifting the number of new immigrants by no less than 75 per cent relative to pre-pandemic levels by 2025. This in an environment in which the rental market is getting tighter by the day.
This is one of the reasons why health care is flailing, housing is unaffordable, roads are clogged and infrastructure projects never keep up with demand — and it’s only going to get worse as the government continues to let in record numbers of newcomers. Prime Minister ’s government is reducing the living standards of Canadians while at the same time attacking the country’s economic base and resource industries.among its 38 countries in terms of housing affordability, which compares average home prices to average incomes. And it’s going to get worse.
The CIBC report addresses another immigration red flag that has been proposed by the Liberals: “What’s more, the recently reported proposed plans by the government to reduce eligibility rules for visitors , will in all likelihood work to add notably to demand for residential housing.Article content
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