A new report delivered at the national Metropolis conference in Vancouver last week by Canadian professor Tony Fang recommends that Canada increase its yearly immigration quota from 250,000 to 350,000 for the next ten years – adding one million new immigrants by 2021.
According to the report, increasing Canada’s immigration levels would help Canada’s economy, not cause a rise in unemployment and would lead to more investing in housing.
The study was a part of the Metropolis Project, and took into consideration a number of factors like interest rates, standards of living, inflation, wages and monetary economic policy to ensure the findings were justified.
“To study the impacts of large-scale immigration on the Canadian economy, the researchers took into account many factors including immigrants’ participation in the labour force, associated spending on government services and infrastructure, funds brought by immigrants and labour market differences between migrants (in order to capture the effect of large-scale immigration on Canadian-born workers,” said a news release.
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