The recently released Canada Budget 2023 shows us the expenditure plans of the country for 2023. The budget is important since it has effects on the people living in Canada, whether they be citizens, permanent residents, or immigrants. There were some things mentioned in the recent budget. But some sectors such as healthcare, initiatives on environmentally friendly energy resources, and childcare in Canada seemed to be the center of focus.
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Canada Budget
As we know, the upcoming fiscal year is right around the corner, and this one is coming to an end, it was time to release the budget. Hence, Canada announced the budget on 28th March, 2023. In it, the country set the tone of expenditure for the next fiscal year. The Government of Canada releases
Budget every year. And, yes, this is a pretty big deal for all immigrants just like it has on Canadians.
It not only shows the spending plans for the next year but also announces the priorities of the government. Along with that, Canada’s economic health is also reflected in the budget. These factors are really important when talking about immigration strategy in Canada.
This is how the budget would impact immigration
The budget proposed will be benefiting the immigration programs. Moreover, fundings is set to go towards supporting current programs and smoothly running the process of applications.
All in all, the Canadian Government will be spending around $55M just on immigration in the fiscal year of 2023-2024.
In the span of next five years, the Government will be providing $10 million, and $14.6M in amortization for IRCC as well as the Royal Canadian Mounted Police so they could implement biometrics. These things will definitely be helping in the expedition of citizenship applications.
In order to boost immigration of Francophones in the country, the budget proposed $123.2 million. This is proposed to expand the population of Francophones living outside of Quebec. In addition, the proposal will also encourage Canadian employers to hire more French speaking workers, as well as provide more support to the immigrants after their arrival in Canada.
Impact of Budget on Canadians
The Canada budget of this year will be focusing primarily on healthcare, initiatives on green energy, and affordability measures for the people of Canada.
The budget will be containing policies that will be impacting both immigrants and Canadians alike. Canadians with incomes of $90,000 or lower than that will be able to enjoy national dental care plans and a tax-free home savings account. Starting 1st April, these accounts will be provided by financial institutions to first time home owners.
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