Tories’ new budget to close program giving investors path to citizenship – The Globe and Mail

Nice to see some evidence-based policy in killing this program. Always had an offensive “buying citizenship for investing in strip malls” aura to it (Martin Collacott: The citizenship fire sale – National Post), as well as “citizens of convenience”:

Sources say the government believes the immigrant investor class pays significantly less in taxes over the decades than other economic immigrants, have less proficiency in English or French and are less likely actually to reside in Canada.

A source said the government is acting based on data that show that, 20 years after arriving in Canada, an immigrant investor has paid about $200,000 less in taxes than a newcomer who came in under the federal skilled worker program, and almost $100,000 less than one who was a live-in caregiver.

In the past 28 years, more than 130,000 people have come to Canada under the investor program, including applicants and their families.

The Conservatives feel newer economic-immigrant programs are doing a better job of attracting newcomers who will integrate well into Canadian society and build the economic base.

These include the Canadian Experience Class, which fast-tracks residency for temporary foreign workers already in Canada and non-Canadians who have graduated from universities and colleges here.

Tories’ new budget to close program giving investors path to citizenship – The Globe and Mail.