Increasing the Canadian population will ‘cushion the impact’ of economic consequences of overall population aging, the report states, adding that inviting more immigrants to enter the workforce will ‘boost Canada’s labour force and generate stronger long-term economic growth’.
Across all scenarios, it is clear that immigration is an essential component, and that improving the fertility rate — 1.6 births per woman in 2015 — is not enough to maintain the economy.
In the report’s most optimistic scenario, it is projected that Canada inviting up to 413,000 immigrants per year by 2030 will result in the strongest economic growth.
‘Growing Canada’s population through immigration boosts economic growth and softens the economic burden of a rapidly aging population and low birth rates in Canada,’ concludes the report.
The figure of 413,000 new immigrants per year by 2030 proposed in the report’s most optimistic scenario is well within the realm of possibility for Canada.