Reduced Immigration Targets: Canada will lower its permanent resident targets, dropping from 485,000 this year to 395,000 in 2025, and further reducing to 380,000 in 2026 and 365,000 in 2027. This is expected to decrease population growth slightly and ease housing demand.

Housing Market Impact: Immigration Minister Marc Miller says the plan will alleviate housing pressure, potentially reducing the need for 670,000 additional housing units by 2027.

Focus on Skilled Workers and Temporary Residents: Over 40% of new residents will be selected from current temporary residents to avoid additional strain on housing and social services, with a focus on skilled labor for sectors like healthcare and trades.

Criticism and Support: Conservatives and the NDP criticize the changes as inadequate for addressing housing and affordability issues, while immigration advocates argue that immigrants are being unfairly blamed for broader economic challenges.