CTV News: Fewer immigrants could have economic impacts as Canadians age

High levels of immigration are helping blunt the economic impact of Canada's aging population even though it's worsened challenges with housing affordability, a report by RBC says.

Carrie Freestone, an economist with RBC, said Canada's retirees are still consuming goods and services, including health care, Canada Pension Plan and Old Age Security benefits, creating an imbalance between demand and what the economy can produce. As fewer people pay into public service programs and more people become recipients, Freestone added it widens the gap between government tax revenue and money needed to pay for services.

"That's a problem," she said in an interview. "If we have fewer people working and producing goods and services and we have more people consuming, there's a mismatch between supply and demand."