"Canada Implements Two-Year Cap on International Student Permits"

Canada has announced a two-year cap on the intake of foreign students due to an explosive growth in recent years aggravating the housing shortage, with nearly one million study permits issued last year. The new proposal will cut the intake by nearly a third and set limits on post-graduate work permits, impacting international students and universities financially. The surge in international students has led to an acute shortage in rental apartments, pushing up rents, and the government is also concerned about the quality of education provided by some institutions. This move will impact universities, businesses, and Canadian banks, as well as create a shortage of temporary workers in sectors like restaurants and retail.