Furthermore, the cost includes the gross spend on processing, pre-arrival services, and settlement services on these 3 programs.
According to the report, $792 million will be spent over the following five years to meet the target under Express Entry system.
Moreover, this cost will be offset by $743 million in application fee revenue. As a result, there will be a net total cost of $48 million on government.
In 2022-23, the net cost per accepted Permanent Resident is expected to be $91.
This is mostly due to quite a high number of applications from backlog as well as resumption of new draws.
Express Entry Projections Until 2027
The report highlighted that the government often exceeded its immigration objectives in the three EE streams, in past year.
However, because the objectives are higher for 2023-2025, the PBO expects the targeted immigration levels to be reached rather than exceeded.
Furthermore, the PBO estimates that Express Entry targets may increase 7% annually after 2025, equivalent to the annual growth rate between 2015 and 2025.
The report also highlights below listed points:
In 2020, fewer PRs were accepted through EE due to the COVID-19 pandemic. Several persons who would have immigrated in 2020 instead came in 2021, resulting in increased admittance numbers in 2021.
There were no draws for the three EE streams from September 2021 to July 2022. This enabled IRCC to address a backlog of applications that had accumulated during the pandemic’s early stages.
The immigration objectives for the EE streams in 2022 were met before the end of the year. This is not likely to happen again in the foreseeable future.
March 18 – Canada announces new measures to support Turkish and Syrian temporary residents including open work permit and extension of temporary status without any fee.
Watch live – the new PGWP extension 2023 announcement by IRCC Minister Sean Fraser and read the transcript in your preferred language for better understanding.
March 14 BC PNP Draw (British Columbia) invites more than 230 applicants for Permanent Residency (PR) targeting tech, healthcare, and childcare occupations
March Quebec arrima draw invites 1,017 profiles for the permanent residency (PR). Cut off score drops by 20 points as compared to first arrima draw of 2023.
Gagandeep Kaur Sekhon moved to Canada in 2010 on a study visa. She navigated through the ups and downs of her student life and gained her permanent residency in 2015. Today, she is a proud Canadian citizen residing in Calgary, Alberta. She is mother of 2 beautiful daughters and making her difference through writing and guidance at INC - Immigration News Canada.
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