October 24, 2025

Get ready, Canada! Prime Minister Mark Carney made a big splash on Wednesday by announcing an exciting new immigration plan in the upcoming budget. He wants to bring skilled workers and talented innovators to boost the country’s workforce. In a rare prime-time national address, Carney shared his grand economic vision, confirming details first revealed by Bloomberg News. "To match immigration levels with our needs and our capacity, the budget will include Canada’s new immigration plan to do better — for newcomers, for everyone," he said, as quoted by Bloomberg. The plan includes a smart talent strategy, skills training, and apprenticeships, especially for scientists and innovators. Why now? Carney has eyes on global tech talent, especially as US President Donald Trump's new H-1B visa fees have shaken the tech world. With the U.S. slapping a whopping $100,000 fee on new H-1B visas, many skilled workers might look north towards Canada instead. Some fee exemptions popped up later, but uncertainty still rules. This move gave Canada a golden chance to attract software developers and engineers who might have otherwise gone to the US. Carney’s government is keeping some immigration limits introduced by former Prime Minister Justin Trudeau. Trudeau had cut back on foreign students and temporary workers due to Canada's rapid population growth. Now, with public support for immigration touching multi-decade lows, Carney faces the task of winning hearts back. Statistics Canada reveals population growth is slowing down, mainly because fewer temporary immigrants are arriving. But wait, there’s more! Carney also spotlighted Canada’s power in energy and natural resources. His budget will showcase a climate competitiveness plan that focuses on "results over objectives, on investments over prohibition," he told Bloomberg. Known for his environment work as the UN’s special envoy for climate change, Carney is cautious about hitting tough federal climate targets. Recently, he rolled back some of Trudeau’s environmental rules, approved expanding a liquefied natural gas project in British Columbia, and opened doors for a new oil pipeline to the west coast. "We are an energy superpower," Carney proudly stated. Canada holds the third-largest oil reserves, fourth-largest natural gas reserves, boasts an 85% clean electricity grid, and is rich in critical minerals and rare earths. On the money front, Carney promised to "spend less to invest more," aiming to balance the budget within three years while boosting long-term investments. "Our government will work relentlessly to cut waste and drive efficiencies, and when we have to make difficult choices, we will be thoughtful, transparent and fair," he told Bloomberg. Circle November 4 on your calendars! That’s when Finance Minister Francois-Philippe Champagne will unveil the big budget. Experts expect the deficit could reach C$70 billion (US$50 billion) or even up to C$100 billion. Carney also spoke directly to young Canadians struggling with high rent, housing problems, and unemployment. Talking from a university stage, he said, "It’s our country. It’s your future. We will give it back to you," promising his plans will grow the economy and raise wages over time. Get ready for an exciting future as Canada plans to welcome skilled minds and power up its economy with energy and innovation leading the way!

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Tags: Mark carney, Canada immigration plan, Skilled talent, Economic vision, Us visa fees, Climate strategy,