Budget 2026: Talent and immigration

The 2027-2029 Immigration Levels Plan will continue to seek a balance between the needs of Canada’s employers, industries, and communities and our ability to meet the needs of newcomers, while avoiding undue pressures on housing, health care, and social services. The Plan will also support pathways for people already living and working in Canada to continue contributing to our shared economic future. To that end, Budget 2026 proposes to: Implement the 2027-2029 Immigration Levels Plan. The Plan sets targets of 370,000 new temporary resident arrivals and 380,000 permanent resident admissions in each of 2027, 2028, and 2029. Budget 2026 proposes to provide Immigration, Refugees and Citizenship Canada with $56.9 million over four years, starting in 2027-28, with $205.4 million in future years to implement the Plan.

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The 2027-2029 Immigration Levels Plan will continue to seek a balance between the needs of Canada’s employers, industries, and communities and our ability to meet the needs of newcomers, while avoiding undue pressures on housing, health care, and social services. The Plan will also support pathways for people already living and working in Canada to continue contributing to our shared economic future. To that end, Budget 2026 proposes to: Implement the 2027-2029 Immigration Levels Plan. The Plan sets targets of 370,000 new temporary resident arrivals and 380,000 permanent resident admissions in each of 2027, 2028, and 2029. Budget 2026 proposes to provide Immigration, Refugees and Citizenship Canada with $56.9 million over four years, starting in 2027-28, with $205.4 million in future years to implement the Plan.

Budget 2026 - Masters of our Destiny · PDF p. 230

Help transition the many longstanding temporary residents to permanent residency. Up to 200,000 temporary residents already in Canada would have the opportunity to become permanent residents by the end of 2027. Through collaboration with provinces and territories, this measure would transition 100,000 workers eligible for Express Entry or the Provincial Nominee Program, increasing provincial and territorial share of permanent economic immigration and providing greater flexibility to respond to regional labour market needs. Budget 2026 proposes $302.3 million over four years, starting in 2027-28, with $90.6 million in future years, to support implementation.

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Help transition the many longstanding temporary residents to permanent residency. Up to 200,000 temporary residents already in Canada would have the opportunity to become permanent residents by the end of 2027. Through collaboration with provinces and territories, this measure would transition 100,000 workers eligible for Express Entry or the Provincial Nominee Program, increasing provincial and territorial share of permanent economic immigration and providing greater flexibility to respond to regional labour market needs. Budget 2026 proposes $302.3 million over four years, starting in 2027-28, with $90.6 million in future years, to support implementation.

Budget 2026 - Masters of our Destiny · PDF p. 230

Reform the Temporary Foreign Worker Program to better align with regional labour market needs, in collaboration with provinces and territories, while improving processing time and strengthening employer compliance. Budget 2026 proposes to provide $151.5 million over five years, starting in 2026-27, to Employment and Social Development Canada to implement these reforms.

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Reform the Temporary Foreign Worker Program to better align with regional labour market needs, in collaboration with provinces and territories, while improving processing time and strengthening employer compliance. Budget 2026 proposes to provide $151.5 million over five years, starting in 2026-27, to Employment and Social Development Canada to implement these reforms.

Budget 2026 - Masters of our Destiny · PDF p. 230

Budget 2025 announced the $1.7 billion International Talent Attraction Strategy and Action Plan. The Action Plan helps businesses access the talent they need while respecting sustainable immigration targets. The Action Plan has helped bring highly skilled workers, researchers, entrepreneurs, and innovators from around the world to Canada, where they are already contributing to economic growth. Progress includes: • The appointment of the first 64 Eddie Goldenberg Research Chairs hired under the Canada Global Impact+ Research Talent Initiative. These appointments include world-leading researchers from 13 countries and dozens of Canadians choosing to continue their cutting-edge research at home. • Providing employers in strategic sectors with expedited access to highly skilled workers through the Temporary Foreign Worker Program’s Global Talent Stream, with Labour Market Impact Assessment processing in as few as 10 business days. • Ongoing efforts to modernise the Express Entry system for economic immigration to better select people with the skills and expertise needed to fill critical gaps and support innovation.

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Budget 2025 announced the $1.7 billion International Talent Attraction Strategy and Action Plan. The Action Plan helps businesses access the talent they need while respecting sustainable immigration targets. The Action Plan has helped bring highly skilled workers, researchers, entrepreneurs, and innovators from around the world to Canada, where they are already contributing to economic growth. Progress includes: • The appointment of the first 64 Eddie Goldenberg Research Chairs hired under the Canada Global Impact+ Research Talent Initiative. These appointments include world-leading researchers from 13 countries and dozens of Canadians choosing to continue their cutting-edge research at home. • Providing employers in strategic sectors with expedited access to highly skilled workers through the Temporary Foreign Worker Program’s Global Talent Stream, with Labour Market Impact Assessment processing in as few as 10 business days. • Ongoing efforts to modernise the Express Entry system for economic immigration to better select people with the skills and expertise needed to fill critical gaps and support innovation.

Budget 2026 - Masters of our Destiny · PDF p. 231

The development of a new high-impact startup pilot to attract entrepreneurs and innovators with the potential to create jobs and commercialise innovation in Canada.

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The development of a new high-impact startup pilot to attract entrepreneurs and innovators with the potential to create jobs and commercialise innovation in Canada.

Budget 2026 - Masters of our Destiny · PDF p. 232

Introducing the Canada Growth Incentive to help high-potential businesses attract investment and grow in Canada, consisting of two measures: introducing a new tax exemption for Canadian builders on up to $15 million in capital gains earned from successful investments in eligible Canadian companies and enhancing the small business rollover to allow increased

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Introducing the Canada Growth Incentive to help high-potential businesses attract investment and grow in Canada, consisting of two measures: introducing a new tax exemption for Canadian builders on up to $15 million in capital gains earned from successful investments in eligible Canadian companies and enhancing the small business rollover to allow increased

Budget 2026 - Masters of our Destiny · PDF p. 125

deferral of taxes on capital gains when proceeds are reinvested in another Canadian small business. By allowing builders to keep more of the benefits when a business succeeds, these measures will help level the playing field with the United States, encourage more capital to flow to Canadian businesses, and enable successful entrepreneurs to reinvest their proceeds into Canada. This incentive would provide $715 million in tax relief over four years, starting in 2027-28.

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deferral of taxes on capital gains when proceeds are reinvested in another Canadian small business. By allowing builders to keep more of the benefits when a business succeeds, these measures will help level the playing field with the United States, encourage more capital to flow to Canadian businesses, and enable successful entrepreneurs to reinvest their proceeds into Canada. This incentive would provide $715 million in tax relief over four years, starting in 2027-28.

Budget 2026 - Masters of our Destiny · PDF p. 126

For a founder with a $15 million capital gain, that difference is substantial: they would retain nearly 96% of the value when they exit, compared with 71% before Budget 2026.

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For a founder with a $15 million capital gain, that difference is substantial: they would retain nearly 96% of the value when they exit, compared with 71% before Budget 2026.

Budget 2026 - Masters of our Destiny · PDF p. 126