Canada’s immigration policies are damaging the economy. That’s the finding of Canada’s top bank economists, who issued a dire warning to the federal government. By admitting 455,000 new permanent residents and more than 800,000 non-permanent residents last year, Canada is on the brink of a recession, or worse. “I’ll put it bluntly: We’ve fallen into the population trap,” said Stéfane Marion, chief economist at National Bank of Canada. An increase in the standard of living is no longer possible because “you don’t have enough savings to stabilize your capital to labour ratio.”
