Immigration levels update to be included in Nov. 5 budget

The annual immigration levels update will be included in the federal budget being released Thursday, a government source with knowledge of the plan confirmed.

This will be the second year the annual update is included in the budget document.

Prime Minister Mark Carney has said immigration is back under control and he told the New York Times in September the question is now about when Canada should begin a "controlled increase" in population.

Finance Minister Francois-Philippe Champagne said Monday Canada previously was bringing in more people than public services could handle or communities could absorb.

"I always felt that you need to welcome people to Canada, but on a level that allows you to provide the basic services or the infrastructure that can support the people coming into our shore," Champagne said during a pre-budget appearance at the Canadian Club of Ottawa.

"And therefore, that's what we did. We've been able to bring the immigration level to a more sustainable level for now, but also for the future."

During a Monday speech to the Canadian Club of Toronto, Champagne said Canada has relied too much on an expanding population for growth, instead of focusing on worker and business productivity.

While the current plan is to admit 380,000 permanent residents annually, there are two one-time programs aimed at giving permanent status to another 140,000 temporary residents through 2026 and 2027 that aren't included in the broader target.

The previous Liberal government had planned to add 500,000 permanent residents annually. The Carney government has said that rapid population growth contributed to the cost of living squeeze and the housing crisis.

The government's goal is to reduce the number of temporary residents in Canada to five per cent of the total population. Statistics Canada estimates the non-permanent resident population at 6.7 per cent of the total population as of July 1.

The annual update will be published after its legally mandated Nov. 1 deadline, even though the Immigration and Refugees Protection Act says the report must be tabled in Parliament on or before that day if the House is sitting.

This report by The Canadian Press was first published Nov. 3, 2026.

By David Baxter | Copyright 2026, The Canadian Press. All rights reserved.