Canada’s Aging Population A Big Problem – Wants to Increase Immigration
Conference Board of Canada has come with a new report in which it has been stated that the level of immigration need to be increased to more than 400,000 per year to meet the requirement of economic growth of Canada. The report has highlighted the challenges that have been posed by the aging population in Canada.
It has been reported that significant changes in policies are required to give a boost to immigration as in coming decades the costs required to support retirees will not be fulfilled by Canada’s economy.
Proposed Scenarios
Four scenarios have been proposed in the report concerning the population growth of Canada. Among all the scenarios, one thing is common, and that is to increase the level of immigration. It has been stated that the present birth rate of 1.6 births per woman is not enough to support the economy.
Strongest economic growth will only result when Canada is able to bring in more than 400,000 immigrants every year by the year 2030. This is the only way to increase the population of Canada to 100 million by the year 2100. This will ultimately result in sharp increase in the output from Canada in the long run.
As the proposed immigration plan is achieved, it will result in better revenue generation both at the federal and provincial level. As the population will increase, it will also result in greater spending and circulation of revenue.
It has also been revealed in the report that in case there is moderate growth in immigration, and there is a shift in younger demographics, than the impact on the fertility rate in Canada will be significant. More families mean more children for future generation.
Increase Immigrants with Working Age
The report has stated that as the population of Canada is aging, it is putting more pressure on the social welfare system. Immigration may not solve the problem of aging population completely, but it will certainly lessen the side effects.
As the working population of Canada is increased through immigration it will cushion out the effects from aging population. It is a good time for you to plan and immigrate to Canada. The government of Canada is making plans to welcome new immigrants in the best possible way.
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