OTTAWA, November 3, 2026 — The federal government is expected to announce updated immigration targets in Thursday’s budget, as it weighs slower population growth against pressures on housing and public services, according to government sources cited by CTV News.
The announcement could clarify Prime Minister Mark Carney’s recent comments about the future of immigration. In September, he suggested Canada could eventually return to a controlled increase in population once the immigration system is firmly managed. He later reaffirmed his commitment to keeping immigration at sustainable levels.
Under the existing plan, permanent resident admissions are set at 380,000 annually from 2026 through 2028. Targets for new temporary resident arrivals stand at 385,000 in 2026 and 370,000 in each of the following two years.
Those reductions followed rapid immigration growth earlier in the decade, which increased demand for housing and social services. Temporary residents accounted for a peak of 7.6 per cent of Canada’s population in October 2024, according to Statistics Canada figures cited in the report.
Canada’s population growth has since slowed considerably. Statistics Canada estimated the population at approximately 41.8 million on July 1, 2026, up 189,425 people, or 0.5 per cent, from a year earlier. That marked the slowest July-to-July growth since 1944–45.
The slowdown has raised questions about Canada’s future workforce and economic growth. An October Bank of Canada analysis identified population aging and declining immigration as forces reshaping labour supply and consumer demand.
A September RBC report recommended a revised immigration strategy that would support population growth of approximately one per cent annually while balancing admissions.
Immigration Minister Lena Diab has pointed to the need for newcomers to support the government’s economic ambitions. Speaking in October, she said Canada’s exceptionally slow population growth must be considered alongside its plans to expand the economy.
The report also said Express Entry changes taking effect November 3 would award additional points to high-wage earners, with the aim of retaining skilled newcomers and supporting growth.
The Conservatives are calling for substantially lower immigration levels. Immigration critic Michelle Rempel Garner said her party would oppose increases and press the government for further reductions in permanent resident admissions.
Thursday’s budget is expected to show how Ottawa intends to balance immigration, economic needs and the capacity of communities to accommodate newcomers.