Mark Carney, the former governor of both the Bank of Canada and the Bank of England, has announced his intention to run for Prime Minister of Canada. His policy platform includes ambitious proposals aimed at reshaping the nation’s immigration system. Carney’s views have sparked discussion about how to balance economic growth with housing availability, social services, and Canada’s evolving national identity.
On one hand, Carney has stressed that immigration plays a critical role in driving economic prosperity in Canada. On the other hand, he has raised concerns about the current pace of immigration, suggesting it is becoming unsustainable for the country’s infrastructure. As such, Carney has proposed measures like implementing a cap on immigration numbers.
In this article, we will break down Carney’s key comments and policies regarding Canadian immigration, explore his proposed changes, and consider the potential consequences of these reforms.
A Proposed “Cap” on Immigration
Carney has made it clear that he sees a “cap” on immigration as essential to ensure that Canada’s growth remains sustainable. According to his policy documents released in February 2025, Carney would introduce this cap to bring immigration levels back in line with the country’s pre-pandemic trends. His reasoning is that Canada has accepted higher-than-expected numbers of immigrants, temporary foreign workers (TFWs), and international students, and this influx has strained the nation’s housing, healthcare, and social systems.
Carney has argued that Canada is admitting more newcomers than can be properly supported. He’s cited challenges like the limited availability of housing, healthcare services, and job opportunities for newcomers. He claims that this rapid expansion risks undermining the very benefits that immigration has brought to the Canadian economy.
In contrast to the current trajectory under the government’s Immigration Levels Plan, which sets aggressive targets for permanent and temporary residents, Carney’s plan focuses on ensuring that Canada can manage its population growth in a more controlled manner.
While specifics on the exact numbers of immigrants and the distribution between permanent and temporary residents remain vague, Carney’s plan appears to support a more restrictive approach compared to the recent immigration strategies of the federal government.
Prioritization of Temporary Residents for Permanent Residency
Carney has also suggested prioritizing the transition of temporary residents (TRs) to permanent residency (PR). According to his remarks at the Cardus event in November 2024, Carney believes Canada needs to focus on “absorbing the 4-plus million people who have come here in the last few years” before aggressively expanding immigration again.
In line with federal government trends, Carney has proposed a focus on transitioning temporary residents to permanent residents. The most recent Immigration Levels Plan has included a category called “In-Canada Focus,” which emphasizes the admission of 82,980 PRs from within Canada in 2025, making up around 36% of the total economic immigration targets for that year.
By focusing on integrating and supporting those already in the country, Carney hopes to balance population growth and reduce strain on Canada’s social infrastructure.
Reining in Temporary Foreign Workers (TFWs)
Another key element of Carney’s immigration policy is reducing the number of Temporary Foreign Workers (TFWs). Carney has acknowledged that during the pandemic, businesses pushed for an influx of TFWs to address labor shortages, and the government approved many of these applications without fully considering the long-term consequences.
He has criticized the “failure of execution” in allowing large numbers of TFWs into the country, which has placed additional stress on services and infrastructure that were already under strain. While some temporary work permits are essential for maintaining Canada’s workforce, Carney seems to want to rein in this category to ensure the country’s labor force remains sustainable and manageable.
Under the Immigration Levels Plan for 2025-2027, the federal government has already set targets for work permits under both the Temporary Foreign Worker Program (TFWP) and the International Mobility Program (IMP). While Carney has not provided detailed figures for the number of TFWs he would allow, it’s likely his cap would also apply to this category.
Addressing Over-Reliance on International Student Tuition Fees
Carney has expressed concern over Canada’s over-reliance on international students to fund its postsecondary institutions. Many universities and colleges in Canada have been increasingly dependent on the tuition fees paid by international students as a means to offset government funding cuts.
Carney has pointed out that provincial funding for postsecondary institutions has been frozen for years, leaving universities with few options but to rely on the revenue from international students. This has led to financial difficulties for institutions, with some facing multi-million-dollar deficits. Many universities, like Seneca College and the University of Waterloo, have implemented cost-saving measures, including program cuts and hiring freezes, as a result.
Carney has proposed that the Canadian government increase funding to educational institutions, reducing their dependence on international student revenue and ensuring that education remains accessible and sustainable.
The Housing Crisis and Immigration Policy
Another crucial issue in Carney’s immigration reform plan is addressing Canada’s housing crisis. Carney has linked immigration directly to the housing shortage, acknowledging that high levels of immigration without corresponding growth in housing stock have exacerbated the problem. He has promised to “supercharge” Canada’s housing plan by focusing on growing the construction sector’s workforce and expanding apprenticeship programs for skilled trades.
While Carney’s proposal for expanding the skilled trades workforce aligns with existing federal government strategies to boost housing, his specific stance on public housing investment remains unclear. In the past, the federal government played a major role in funding affordable housing development, but this stopped in the 1990s. Carney’s policies could potentially signal a shift back to such investments, though details are still forthcoming.
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The Role of Immigration in Canada’s National Identity
Carney has emphasized that immigration is not only essential to Canada’s economy but also crucial to the country’s national identity. He has spoken proudly about Canada’s history of welcoming immigrants and integrating them into the country’s cultural fabric. According to Carney, immigration is a key part of what makes Canada distinctive, and it is vital for the country’s future prosperity.
When asked if Canada could afford to continue its pro-immigration policies, Carney responded emphatically that the answer is yes. He argues that Canada can’t afford not to embrace immigration, as it brings the skills, diversity, and innovation that are essential for the country’s continued growth and success.
Mark Carney’s Background and Political Future
Carney’s background as an economist, banker, and UN Special Envoy for Climate Action makes him uniquely qualified to lead Canada through a period of significant change. With a solid track record in both the private and public sectors, Carney has gained a reputation for his ability to navigate complex financial and economic issues.
Carney announced his candidacy for the leadership of the Liberal Party of Canada on January 16, 2025, signaling his first step into federal politics. His political future will depend on the upcoming federal election, which must be held by October 2025, though it could occur sooner if opposition parties trigger an early election.
What’s Next for Mark Carney?
As Carney prepares for his potential role as Prime Minister, his vision for Canada’s immigration policy will continue to evolve. His proposed immigration cap, focus on temporary residents, and critique of current immigration policies will likely be key talking points in the upcoming election campaign. As Carney charts his course for the future, Canadians will be watching closely to see how his leadership could reshape the nation’s immigration landscape and economic future.
By outlining his priorities on immigration, housing, and education, Carney’s political platform presents a new vision for a more sustainable, balanced approach to Canada’s growth and identity. The coming months will determine if Canadians are ready for such a transformation.
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