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The Economic and Fiscal Update of the Canada Government, presented by Finance Minister Chrystia Freeland in the Parliament recently, says that immigration is an important driver of economic growth and a Canadian competitive advantage. According to the Update, Canada government is committed to admit 411000 new immigrants in the coming year and this is the highest number ever. In order to support this effort and to reduce the application processing time, Canada is investing $85 million in the country’s immigration system.
This shows that Canada is committed to achieve the targets set under the Immigration Levels Plan for 2021-23. In the Update, Freeland has also mentioned about the need for reducing the processing time of the applications, as the backlog has increased during the pandemic.
Economic and Fiscal Update and Canada Immigration
The Economic and Fiscal Update is a glimpse into the future spending of the government. This is the first revision of the government’s economic forecast since the release of the 2021 Federal Budget in April.
The fiscal updates often include matters that can directly affect the newcomers. They detail government policies on issues such as healthcare, education, infrastructure and many others that directly affect those who live in Canada. The latest Update detailed the policy measures being pursued by the government to recover from the economic and social impact of the pandemic.
Canada Budget for 2021 and Canada Immigration
The Budget for 2021 included five major pledges on immigration. The funding for some of these, including the Temporary Residence to Permanent Residence pathway has already been passed. Budget 2021 called for the replacement of the outdated Global Case Management System (GCMS) that processes citizenship and immigration applications. Another suggestion put forward in the Budget was reforming the Express Entry system in such a way to give more authority to the immigration minister for selecting candidates based on the labour market needs. Further, Budget 2021 also said that more amount should be spent on the Temporary Foreign Worker Program(TFWP). This additional spending is aimed to increase employer compliance inspections for preventing worker mistreatment and supporting vulnerable foreign workers by helping them to get open work permits, in case if they are abused by their employers. Besides, the Budget also proposed additional spending on initiatives to improve the employment outcomes of racialised newcomer women.
Do you wish to know about your options for migrating to Canada? Contact the Canada immigration consultants of CanApprove now!
