In Budget 2022, Ontario announced a $15 million investment to double the skilled immigrant intake over three years. The investment will help the province’s economy thrive while addressing labour shortages.
Each year, the province of Ontario welcomes one third of all new immigrants to its land. Thus, in order to reach a record high of 18,000 economic immigrants by 2025, the province and the federal government announced a doubling of the number of immigrants the province will choose. The Provincial Nominee Program (PNP) for Ontario is the Ontario Immigrant Nominee Program (OINP) which is the most popular route for skilled workers to come to Canada. Through its OINP, the province invites skilled individuals with the necessary qualifications to apply for nomination.
Ontario has both base and enhanced streams to offer. Base streams are those that don’t comply with Express Entry’s systems while the enhanced streams are those that are aligned with this system. The federal government uses the Express Entry system to oversee applications for permanent residence submitted through Canada’s three main economic class immigration programs.
Candidates are assigned a point-based Comprehensive Ranking System (CRS) score through the Express Entry system only. The top candidates are then given the opportunity to submit an application for permanent residence. An additional 600 points are awarded to those who have received a nomination from a province with an expanded program, practically guaranteeing them an Invitation to Apply (ITA) for permanent residency. Candidates who receive a provincial nomination must submit a direct application to IRCC.
Building a Strong Ontario is the Theme of the 2023 Budget of the Ontario Government
The Building a Strong Ontario budget for 2023 is described as a responsible, targeted approach to help people and businesses today, while laying a strong fiscal foundation for future generations. In addition to the $25 million investment in the OINP, the budget includes several significant policies that would impact immigrants from Ontario. The administration promises to make investments in skill development, revamp the apprenticeship and skilled trades systems, and assist recent immigrants in using their abilities. In order to assist workers and job seekers in acquiring the skills they need to take on new opportunities and progress their careers, Ontario is specifically allocating $75 million into the Skills Development Fund over the next three years.
In short, according to the Ontario website, the increased investment in Budget 2023 will expedite the application process and make sure that newcomers to Ontario may begin working in their professions soon. To ensure that the system can handle growing demand both now and in the future, the cash will improve security and other IT enhancements.
In addition, the housing crisis and difficulties with home affordability are also covered in the Budget. By 2031, the government hopes to have constructed 1.5 million dwellings. The More Homes Built Faster Act, 2022 will put new regulations in place to aid in the construction of more homes and make life more affordable for families in Ontario. According to estimates, these modifications will result in a $116,900 decrease in the price of building a single-family home in the Greater Toronto Area.