Cap On Temporary Residents: A new report by CIBC on August 30, 2023, suggests that capping temporary residents is more critical than previously thought.
This report shows that Canada’s official count of non-permanent or temporary residents is one million lower than the actual number living in Canada.
It is crucial to quickly implement an annual cap on the number of temporary residents, specifically international students, due to the recent attention to their significant increase.
Also, Statistics Canada has not accurately accounted for temporary residents in Canada, as there is a considerable difference between the Census and the more current quarterly and yearly population growth estimates.
New CIBC Report Says Cap On Temporary Residents
According to the report, even if we miraculously take all the right steps to improve the housing supply, it will take some years for that supply to hit the market while demand continues to rise.
The report investigates the reasons behind the undercounting of non-permanent residents or temporary residents in Canada.
Firstly, the report highlights that temporary residents may not participate in the census for various reasons, such as coming from countries where talking to the government is unadvisable or unsure about census participation requirements.
Secondly, the system at Statistics Canada assumes that temporary resident (TR) visa holders leave the country within 30 days of their visa expiry. However, most of these temporary residents do not leave upon the expiry of their visas.
During the pandemic, the IRCC introduced certain measures for work visa extensions for international students, but Statistics Canada has not considered these extensions.
Based on the report by CIBC, there is no official data available, but they estimate that over 750,000 temporary residents have overstayed between 2017 and 2022.
However, the actual number could be even higher as CIBC did not include temporary residents whose status has expired but who have yet to apply for temporary or permanent residency.
It has resulted in Statistics Canada underestimating population, housing, and service demands, especially in university cities, as they presume departure one month after the visa’s expiration.
Also, Canada will not close its doors to international students in 2024, but IRCC is developing a system to limit the number of international students annually.
So, it is all about the new CIBC report says Cap On Temporary Residents
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Source:-immigrationnewscanada.ca
