Immigration Minister Jason Kenney: Economic Development

Citizenship And Immigration Canada Dept: Within 30 minutes the pro-gram - which fast-tracks permanent residency for those who can afford it - was closed for the year, according to Vancouver Sun. Right now provinces that accept immigrant investors - predominantly Ontario and British Columbia - get the cash to invest in economic development projects but must pay back the principal five years later. Kenney said a lot of it ends up lying dormant in accounts, particularly in Ontario, which is sitting on nearly $1 billion despite a $16-billion deficit and canada is planning to overhaul its popular Immigrant Investor Program that is so attractive to newcomers that some chartered private planes last year to be first to submit their application when the program opened after Citizenship and Immigration Canada capped intake at 700 cases in an effort to manage demand. In an interview with Postmedia News, Immigration Minister Jason Kenney said the $800,000 minimum investment required under the cur-rent system is simply too low and that it's time to consider making it a permanent contribution to the Canadian economy rather than just a loan. (www.immigrantscanada.com). As reported in the news.