I don't think that the Conservative Party will fix this problem. Much like the Liberal Party, the Conservatives are very pro-immigration.
A Conservative government might impose a slight reduction in the rate, to create the appearance of differentiating themselves from the Liberals. I don't think they'd bring it down much beyond that.
I certainly don't see the Conservative Party putting in place the negative immigration rate that's now unfortunately required to deal with the significant economic and social problems Canada is facing. I doubt they'd send home all of the temporary foreign workers, and deport the fake "refugees" who entered from the US, for example.
Even the PPC, which is perhaps the most willing of the broadly mainstream parties to properly deal with this situation, is still calling for an immigration rate of "between 100,000 and 150,000 annually" in its current platform (https://www.thepeoplespartyofcanada.ca/issues/immigration).
I agree that the Conservative Party won't fix what the Liberals did to Canada. I won't be voting Conservative. Never have, never will.
The Conservative Party will do what the Conservative Party in the UK did: bring in MASSIVE AUSTERITY. When people start defaulting on their mortgages en mass the government will step in to buy up all the dodgy loans. In, short the taxpayer will be burdened with this huge debt. The Conservatives will say they have to introduce AUSTERITY to pay down this enormous debt. That means savage cuts to services. Just like in the UK. Ten years of Austerity in the UK has turned in the UK into a third world country. The only thing that will "save" Canada from third world status is that it has lots of natural resources. Provided there is demand for them and that they don't give it away too cheaply.
And that's coming from someone who utterly despises the Conservative party.