Report

Impact assessment of 2025-2027 Immigration Level Plan

Jan 23, 2025

This report uses demographic scenarios to estimate the economic impacts of the new immigration policies presented in the Government’s 2025-2027 Immigration Levels Plan.

Highlights

On October 24, the Government released its 2025-2027 Immigration Levels Plan (ILP), which included permanent resident targets and, for the first time, temporary resident targets for international students and temporary foreign workers.
The new targets for international migration translate to a 3.2 per cent downward revision to Canada’s demographic outlook, equivalent to 1.4 million fewer residents by the end of 2027.
The changes from the 2025-2027 Immigration Levels Plan (ILP) would result in a 1.7 percent downward revision to real Gross Domestic Product (GDP) by 2027. However, real GDP per capita would be 1.4 per cent higher by 2027.
PBO estimates that the new immigration targets would reduce nominal GDP—the broadest measure of the government’s tax base—by 37 billion on average over the next three years.