In Canada’s Fall Economic Statement Finance Minister Chrystia Freeland outlined the spending in her budget to deliver Canada’s ambitious 2023 to 2025 Immigration Levels Plan.
A $1.6 billion has been set aside over six years and $315 million a year after that. Furthermore $50 million has been allocated for the rest of this year and next year specifically aimed at bringing on track of the processing backlog.
The immigration budget has been allocated on the back of the latest Immigration Levels Plan tabled by Immigration Minister Sean Fraser earlier this week, which will see Canada welcome 1.45 million immigrants in the next three years.
“Today’s Fall Economic Statement is focused on building an economy that works for everyone – an economy that creates good jobs and makes life more affordable for Canadians,” Freeland said.
The Fall Economic Statement clearly emphasizes on the importance of immigration to Canada’s economic growth with already more than 430,000 newcomers expected in Canada this year under various immigration policies.
“Immigration is core to our identity as Canadians, while also being a key driver of Canada’s economic growth; At the same time, the government will continue to invest in the processing capacity to ensure that all applications are processed as quickly as possible and to eliminate backlogs.” the statement said.
Immigrants arriving over the next three years “will help to address persistent labour shortages, including in healthcare, manufacturing, and the building trades”, said the statement.