Ottawa overestimating revised immigration plan's impact on housing, says PBO

Reduction in permanent residents between over next two years forecasted not to put significant dent in the 1.3 million homes needed by 2030

Canada’s parliamentary budget officer says the federal government is overestimating the impact its new immigration plan will have on the country’s housing shortage.

In October the Liberal government announced it was cutting the number of permanent residents allowed into the country between 2025 and 2027.

The PBO has previously reported that Canada needs to build another 1.3 million homes by 2030 to close the housing gap – and today it says the revised immigration plan will reduce that by 45 per cent, or 534,000 units.