"We are 10 years away from a true demographic pressure point," CEO Goldy Hyder says.Goldy Hyder, President and CEO of the Business Council of Canada, speaks at the Asia Business Leaders Advisory Council meeting on Wednesday, Feb. 27, 2019, in Hong Kong.
With signs of public concern about immigration, Business Council of Canada president and CEO Goldy Hyder said he's promoted the economic case in favour of opening the country's doors to more people. Canada has been ratcheting up its immigration numbers and it plans to welcome more. The Immigration Department set targets of bringing in nearly 331,000 newcomers this year, 341,000 in 2020 and 350,000 in 2021, according to its 2018 report to Parliament.
Earlier this week, the Bank of Canada noted the economic importance of immigration in its monetary policy report. Carolyn Wilkins, the central bank's senior deputy governor, said without immigration, Canada's labour force would cease adding workers within five years.