Mr. Speaker, certainly I have a great deal of respect for the member for Halifax and her approach in looking at the budget in its entirety, looking at the accord and the amendments that have been made and really seeing the tremendous benefit not just for Newfoundland and Labrador and Nova Scotia but for all Atlantic Canada. In her presentation she viewed the budget through an Atlantic lens, which makes sense. Even outside the accord, I see so many benefits in the budget for the people in Atlantic Canada. In my province of Nova Scotia there is a tremendous amount of support for various initiatives.
As the finance minister pointed out in his 2005 budget speech, Canada stands out among the G-7 as having the best job creation record, the fastest growing standard of living, and low and stable inflation and interest rates. This did not happen by accident. Since eliminating the deficit in 1997 the Government of Canada has taken a balanced approach to reducing debt, reducing taxes and investing in social and economic priorities.
With the Government of Canada's seven consecutive surplus budgets, the federal debt has been reduced by more than $61 billion. Budgets are projected to remain balanced or better in 2004-05 and in each of the next five fiscal years. As a result we remain on track to achieve our goal of reducing the federal debt to GDP ratio to 25% by the year 2014-15. Canada's much improved fiscal situation has allowed the government to make significant investments in our country's future.
Before I get into the social aspects which I think are important for the Government of Canada to invest in, I want to speak specifically about some of the initiatives that have come out of the Standing Committee on Fisheries and Oceans, one of the committees I sit on in the House of Commons. Many of the initiatives that were in the budget grew from recommendations and initiatives that came forward from the Standing Committee on Fisheries and Oceans. There is the investment in the Oceans Act. Moneys are allocated in the budget to curb overfishing. There is money in the budget as well to reinvest in our Coast Guard.
There will be fleet replenishment for the Coast Guard. New vessels will be acquired through moneys that have been allotted in the budget. Combined with initiatives that are being put forward by the Minister of Industry, that will yield the opportunity for Canadian companies to be competitive and to engage in bidding on and building some of the new ships here in our own Canadian shipyards. Certainly we will support that.
The Atlantic salmon endowment fund is another initiative that has been pushed by the fisheries committee for some time and a number of members who have active salmon communities. In Cape Breton along the Margaree Valley it is imperative that the stock in the Margaree River is in good shape and that there are fish in the river. That is what drives the tourism industry in that area of the island.
Through investments in habitat, stock replenishment, enforcement and conservation and in partnering with a variety of community groups, such as the Atlantic Salmon Association and the Margaree Salmon Association, we could get a great deal of mileage out of investments like that. The money that has been peeled out in the budget will go a long way. From the $30 million identified in the budget, we will leverage three times that. We will be able to grow the moneys that are being put toward the salmon endowment fund.
The NDP amendment made additions in a variety of areas, one being affordable housing. Affordable housing is a concern in my riding as it is in most members' ridings in Atlantic Canada. We look at the allocation of funds for seniors housing and RRAP grants. That is key. People want to stay in their own homes and want an opportunity to reinvest in their homes. This will go a long way in aiding people in staying in their own homes.
Access to education is very key. The cost of education in Nova Scotia is high. Tuition fees for a medical student at McGill University in Quebec are around $1,400 annually. To attend the medical school at Dalhousie, that same medical student would be looking at tuition fees of $14,000. There is a considerable difference. Outside of the accord, the money for post-secondary education in the budget will go a long way in helping post-secondary students within my province.
I will now focus my remarks on initiatives in the budget that build on our social foundations, part of what defines us as Canadians. I want to speak about persons with disabilities. One of the areas of the budget that I am most proud of is the recognition by the government that a fair tax system recognizes the special circumstances of certain taxpayers and helps remove barriers from participation in the economy and society as a whole. I am speaking of the tax system for our fellow Canadians with disabilities.
Over the last several years the Government of Canada has introduced a number of tax measures to help persons with disabilities and caregivers who often provide vital care for persons with disabilities and loved ones who are elderly or ill. Building on those measures, budget 2005 takes significant new steps. Specifically, it provides persons with disabilities and caregivers with ongoing additional tax relief representing $120 million in 2005-06 and growing over time.
Hon. members will recall that in budget 2003 the government established the technical advisory committee on tax measures for persons with disabilities to advise the Minister of Finance and the Minister of National Revenue on how to address tax issues affecting persons with disabilities. The technical advisory committee on tax measures for persons with disabilities was given an 18 month mandate to provide advice to the federal ministers of finance and revenue. It was composed of members of organizations representing persons with disabilities, medical practitioners and private sector tax experts. The committee's final report, which was submitted in December 2004, contained 25 recommendations. The government is acting on the committee's report.
Budget 2005 also adds physiotherapists to the list of health professionals who can certify eligibility for the disability tax credit. It expands the list of expenses eligible for the disability support deduction to include costs such as job coaches, deaf and blind interveners and Braille note takers.
Budget 2005 also delivers much needed help to low and modest income families caring for children with disabilities. Based on the technical advisory committee report, the budget proposes to increase the child disability benefit to $2,000, up from $1,680, as of July 2005.
The government often cites huge numbers in the House, but the people back in the ridings want to know how they relate to their personal circumstances. I will be attending the upcoming annual general meeting of the Richmond County Disabled Association. It will be those people who will be able to speak to and give some terms of reference to this item.
In practical terms a family with one child with a severe disability and an income of $30,000 in 1999 would have obtained tax relief of about $720 under the disability tax credit. In 2005 that same family will receive more than $3,500 in support and tax relief, a fivefold increase. This includes $1,600 through the disability tax credit and supplement for children, plus $2,000 through the child disability benefit which was introduced in budget 2003. These initiatives build on past measures and illustrate the government's commitment to provide real assistance to Canadians with disabilities.
There is often the perception that our seniors population is forgotten in the rush of modern life. I would like to speak just for a moment about seniors. I have a great number of seniors in my constituency. We deal with a great number of seniors issues. Canada's support for seniors is one of the major success stories of government policy in the postwar era. At the same time, it is an area facing new challenges because of the rapidly growing aged population.
This demographic shift is not unique to Canada. The United States and several other developed nations are faced with the social and economic challenges of rapidly aging societies. This shift has serious implications and poses a serious challenge for Canada's economy because the aging of a nation's population can directly reduce the economic and living standards. This reality is especially relevant in Canada where the population is expected to age faster than those in other comparable nations. Simply put, as the percentage of our population above the age of 65 continues to grow, our health care system and other social services will have to deal with increasing pressure to meet demands of older Canadians.
Budget 2005 confirms $41.3 billion in new funding for health care over the next 10 years. It also makes significant investments across a wide range of policies that matter to seniors, from income security programs to retirement savings, assistance for people with disabilities and for caregivers, and support for voluntary sector activities by and in support of seniors.
There are a number of key measures in budget 2005 that are focused on our senior population. I would like to identify a few.
The budget proposes to increase the maximum monthly guaranteed income supplement benefit by $36 a month for singles and $58 a month for couples. It also proposes to expand funding for the new horizons for seniors program by an additional $5 million in 2005-06, $10 million in 2006-07, and raising to $15 million in 2007-08 and subsequent years, bringing the annual budget to $25 million. These increases will help meet a range of identified needs within the seniors community.
Finally, budget 2005 also proposes to set aside a further $13 million over five years for a national seniors secretariat which would be established within Social Development Canada to serve as a focal point for collaborative efforts to address the new challenges facing seniors.
I trust my remarks today have illustrated that the Government of Canada accords with the highest regard the social values embraced by the electorate. There is more to this budget than just numbers. Budget 2005 puts forward a number of social measures I am pleased to stand behind. I am proud to be a member of this government, a government that cares.
This is a good budget as it is, not only for the people of Newfoundland and Labrador and Nova Scotia but for all Canadians.