The Federal Government announced its new 2025–2027 Immigration Levels Plan.
“The Surrey Board of Trade is disappointed in this plan,” said Jasroop Gosal, Interim Spokesperson for the Surrey Board of Trade. “Our local businesses rely on the international community. The recent decline in unemployment rates can be attributed to high interest rates, which limit businesses’ ability to expand or retain newly hired workers, rather than a reluctance to hire Canadians. It is crucial for the Federal Government to prioritize reskilling and upskilling individuals to maintain competitiveness, especially after a year of rising interest rates, supply chain challenges, and labour strikes.”
Highlights of the Immigration Plan:
- reducing from 500,000 permanent residents to 395,000 in 2025
- reducing from 500,000 permanent residents to 380,000 in 2026
- setting a target of 365,000 permanent residents in 2027
- Transitioning more temporary residents who are already in Canada as students and workers to permanent residents
- Focusing on long-term economic growth and key labour market sectors, such as health and trades
- Strengthening Francophone communities outside Quebec and supporting their economic prosperity
“Employers and workers alike need certainty, and we urge the government to provide more support to ensure that all residents, particularly immigrants who have the highest labour force participation rates, continue to thrive in our local economy.”
The Government of Canada indicated that another reason for this new plan is to alleviate pressures on housing, infrastructure and social services.
“The Surrey Board of Trade has long advocated for increased investment in infrastructure to keep up with immigration levels. Despite these efforts, both federal and provincial governments have consistently overlooked these needs. Now, as the impacts of immigration levels on infrastructure become more evident, they risk undermining the livelihoods of immigrants and businesses who were relying on the immigration plan introduced less than a year ago, in November 2023.”
“Such policy inconsistency harms not only domestic businesses and communities but also undermines our international standing.”
Read the full plan: https://www.canada.ca/en/immigration-refugees-citizenship/news/2024/10/government-of-canada-reduces-immigration.html
-30-
Jasroop Gosal, 604-634-0345, jasroop@businessinsurrey.ca
