Mr. Speaker, our government is focused on what matters to Canadians: jobs, growth and long-term prosperity.
Since 2006, our government has supported the security and prosperity of all Canadians, promoted Canadian businesses and made investments in job creation. When the global economic crisis hit, the previous actions by our government helped Canada avoid a deep and long-lasting recession.
Our government's response to the crisis was both timely and targeted, and was one of the strongest responses to the global recession among the G7 countries. However the recovery process is not complete, and there are many challenges and uncertainties still confronting our economy today.
Bill C-45 takes important and strategic steps to address these challenges and ensure the sustainability of public finances and social programs for both current and future generations. In Bill C-45, our government is focusing on jobs, growth and long-term prosperity through investments in business, infrastructure, trade, families and communities.
All Canadians are sure to benefit from the provisions in Bill C-45, as I will outline in my remaining time.
Our government believes it is important to assist small Canadian businesses so they can focus on what matters: growth and job creation. We are doing this by extending the hiring credit for small business. This is a temporary credit of up to $1,000 that helps alleviate the costs of additional hiring for approximately 536,000 employees. This will reduce the 2012 payroll costs of small business by approximately $205 million, an astonishing saving that I know small businesses in my riding of Oxford will appreciate.
This initiative is in addition to our commitment to small business owners to reduce red tape by implementing the one-for-one rule; reducing the administrative tax burden on small businesses by enhancing the Canada Revenue Agency's my business account portal; and doubling the threshold for eligibility to use the GST-HST streamlined accounting methods; and enhancing the predictability of the scientific research and experimental development tax incentive program. It is good news all around for small business owners.
Our government understands the important role that Canadian farmers play in our country. They not only provide nutritious and delicious food for Canadians and people around the world, but they also provide numerous job opportunities for the Canadian economy. The importance of farmers and their contributions to society can be seen in my riding of Oxford. Every season, we are lucky to enjoy the various fruits, vegetables, meat and dairy products that our Oxford farmers produce.
Oxford and Canadian farmers will be happy to hear that in budget 2012 we are assisting hard-working farmers by investing $50 million to help Canadian farmers remain on the cutting edge of agricultural innovations. We are also providing tax relief to reduce the costs of new investments in processing machinery and equipment, and $24 million to fund national biosecurity and best practices initiatives to combat hog diseases.
In Bill C-45 our government is also making amendments to the Canada Grain Act to streamline and update the operation of the Canadian Grain Commission by reducing costs and better aligning the commission with the needs of the grain sector. This includes a $44 million investment as the commission continues to transition to a more sustainable funding model. This will create a more competitive environment for our farmers and improve their bottom line. No matter what type of farming Canadians are employed in, they will surely benefit from the support of our government.
The Canadian manufacturing industry and its workers is one of the key engines of Canada's economy, as it represents a vital source of jobs and economic growth for many communities, including my riding of Oxford.
Since 2006, our government has proudly supported the manufacturing sector by lowering business taxes to 15%, eliminating the job-killing corporate surtax and introducing the temporary accelerated capital cost allowance tax relief to help manufacturers become more competitive when upgrading their machinery and equipment.
The manufacturing sector has seen strong results due to our government support, and this can be seen in my riding of Oxford.
In March of this year, Toyota announced that it would be increasing Rav4 production at its Woodstock plant from 150,000 annual capacity to 200,000. This increase will result in 400 new jobs. That is great news for the people of Oxford and the Canadian economy as a whole.
I might say there will be a fine announcement at the CAMI GM plant in Oxford tomorrow about a milestone that the plant has reached.
On this side of the House we want to continue with these types of results with the implementation of budget 2012. That is why we are investing $500 million to support venture capital activities, extending the domestic powers of Export Development Canada to provide financing to support Canadian manufacturers and other exporters and $110 million to double support to manufacturers and other entrepreneurs through the industrial research assistance program.
I look forward to hearing many more success stories that are sure to come as we continue to support our manufacturers with budget 2012.
In addition to our government's investments in key industries, we are also facilitating increased trade by strengthening the Trade Act. Bill C-45 would facilitate the construction of the urgently needed bridge along Canada's most important trade artery, the Windsor-Detroit corridor.
Our government will continue to work closely with the state of Michigan, the United States government and the province of Ontario on the Detroit River international crossing project. This project is consistent with the Government of Canada's economic agenda, given its importance for Canada's long-term economic prosperity, growing international trade and investment and the creation of jobs.
The new border crossing will facilitate the movement of people and goods between Canada and the U.S. by ensuring that there is sufficient border crossing capacity to handle projected growth in cross-border trade and traffic in the Windsor-Detroit trade corridor. It will also provide a much needed crossing alternative to the busiest Canada-U.S. commercial border crossing and create thousands of jobs and opportunities on both sides of the border, while at the same time ensuring border security and safety. Canadians can be sure that our government will always support beneficial trade opportunities for the Canadian economy.
Our government is also ensuring the safety of all Canadians by updating the Customs Act. As part of the beyond the border action plan on perimeter security and economic competitiveness, the Government of Canada is working to better screen travellers so security threats can be stopped ahead of time. The changes to the Customs Act will support the interactive advance passenger information initiative outlined in the action plan. This initiative will allow the Canada Border Security Agency to take steps to prevent high-risk or improperly documented travellers from boarding a plane destined for Canada, which will also reduce costs associated with removing inadmissible individuals from Canada.
We are also implementing the integrated cargo security initiative, which will harmonize the security requirements for cargo between Canada and the United States. The pre-screening of cargo will help save time for both businesses and the government by significantly reducing the need for re-inspection of cargo between the two countries and will ensure that high-risk cargo does not reach Canada. Our government is protecting Canadians both at home and abroad.
Families are the cornerstone of Canadian society. Our government believes in supporting families and that is why we have made huge investments since 2006 to help families save money and live healthier and happier lives. We have done this through the introduction of various initiatives, including the children's fitness tax credit, the children's arts tax credit, the family caregiver tax credit, the first time homebuyers tax credit, the registered disability savings plan, the working income tax benefit and the child tax credit.
Due to our government's strong record of tax relief, a Canadian family is now saving over $3,100, a truly amazing saving. Families can use their savings toward investments, vacations, education or recreation. The possibilities are just endless.
In Bill C-45 we are helping families by improving the registered disability savings plan, helping Canadians save for retirement by implementing a tax framework for pooled registered pension plans and improving the administration of the Canada pension plan.
We are also respecting taxes paid by our hard-working Canadian families by taking landmark action to ensure that the pension plans for members of Parliament, senators and federal public sector employees are financially responsible and broadly consistent with the pension products offered by other jurisdictions as well as fair relative to those offered in the private sector.
We are closing tax loopholes that have been open for far too long and eliminating duplication to ensure that Canadian taxpayer dollars are put to good use.
I am proud of the investments and initiatives that our government is putting in place in Bill C-45. We are getting things done for Canadians as we focus on jobs, growth and long-term prosperity. I encourage all members to join us as we support Canadians by voting in favour of Bill C-45.
