Madam Speaker, it is certainly a great privilege to rise in the House this evening to talk about budget 2009 and what it means for Canadians and communities across our country.
Our economic plan for Canada is the result of extensive consultation. We are responding by taking action to protect working families and their jobs today, while also creating jobs for the future.
Our action plan includes tax relief to stimulate the economy and seeks to protect those hardest hit by the global economic downturn, including those in our coastal and rural communities.
We are injecting money into the economy to get people working. We are striving to create employment for those hardest hit by this economic uncertainty. We are working with provinces, territories and municipalities and we are investing in sectors and regions right across the country.
Our government has demonstrated that we are focused on the economy, that we will do whatever it takes to help Canadians weather this storm and to get this economy rolling again. Exceptional times call for exceptional measures.
As Minister of Fisheries and Oceans, I would be remiss if I did not talk about how budget 2009 will benefit Canada's fisheries sector and coastal communities. The one issue that came up time and time again during my consultations and discussions with harvesters and processors from coast to coast was access to credit. The global credit crunch has reached all the way across this country but with our government's business credit availability program, that will change.
For example, a lobster processor who can no longer sell his inventory at the same price and volume as before to a U.S. client because that client is feeling the downturn, needs help to access capital to finance his ongoing operation. He turns to his bank for a line of credit but the bank says no because of competing requests and the seasonal nature of his business. Through the business credit availability program, the bank will be able to get support from a financial crown corporation to allow that processor's credit needs to be met on commercial terms. The same will apply to distributors. Access to credit will enable our seafood enterprises to manage inventories and ride out a challenging season.
Support for workers is also a key component of our economic action plan. By extending EI benefits by five weeks, and I have to say that this measure is already in place as a pilot project in some areas in Canada including mine, by providing additional funds for training and by extending support for older workers, such as those who are 55 and over, our government will be helping ships' crews, plant workers and harvesters weather the economic storm.
For those in the industry who are hardest hit by the decline in global demand for fish at reasonable prices, the $1 billion community adjustment fund will provide needed investments to address significant adjustment pressures in many fishing and coastal communities.
Working with regional development agencies, such ACOA and CEDQ, we will be able to invest in initiatives that will help our fishing industry adjust to new market demands.
Our government's action plan has far-reaching positive investment for fishing communities, the fisheries and marine sectors and beyond. That is why we are investing in communities in this time of economic uncertainty. With significant investments in small craft harbours and the Canadian Coast Guard, budget 2009 will assist Canadians weather the economic storm.
As we all know, Canada is a nation built on a fishing tradition that continues to endure. Our country's wild and cultured fisheries contribute $12 billion annually to the Canadian economy. Aquaculture accounts for one-third of the commercial fishery and it is worth over $900 million each year.
When combined, commercial fishing, processing and aquaculture employ over 130,000 people. The fisheries sector is the sole economic driver in more than 1,000 coastal communities.
Our government recognizes the value of the fisheries and marine sectors and we are committed to helping them flourish with close to $400 million for vital infrastructure, small craft harbours and the Canadian Coast Guard fleet.
We will invest funds in areas that will have the most direct benefit on the Canadian economy.
As part of our government's economic stimulus plan, we will invest up to $200 million over two years for repair and maintenance of core small craft harbours. Those small craft harbours are in the ridings of most MPs in this room. We must build safe, accessible and sound harbour facilities for the commercial fishing industry and for the communities they support.
In Prince Edward Island, this investment means projects in communities such as Wood Islands, where we will invest more than $2 million for the wharf stabilization program and harbour improvements. Miminegash Harbour in western P.E.I. will also receive $1.1 million for wharf construction and shore protection. The fishers in these communities have been waiting a long time for this funding and I am pleased to deliver this.
I recognize how important wharf infrastructure is to Quebeckers and that is why we have allocated $3.6 million to three harbours in the Gaspé region for repairs, construction and reconstruction.
Fishing harbours are also important to northerners. I am pleased to report that budget 2009 allocates an additional $17 million to accelerate the construction of a small craft harbour in Pangnirtung. This critical harbour infrastructure will support Nunavut's growing commercial fisheries and will mean jobs in a region that is seeking opportunities for further economic development.
We will also invest $87 million over two years to support the government's commitment to Arctic science. This includes investments in northern research facilities and preliminary work to fulfill our commitment to establish a high Arctic research station.
Our government will invest an additional $250 million over two years to modernize federal laboratories across the country. A portion of this new money will be put toward salmon enhancement program facilities throughout British Columbia.
As the government's maritime services provider, the coast guard is vital to our country's maritime economy. We will invest $175 million in the Canadian Coast Guard to procure 68 new small vessels, 30 environment barges and to undertake major repair work on 40 of our aging larger vessels.
By procuring 47-foot lifeboats, we will bolster search and rescue operations. Purchasing new inshore fisheries science vessels will enable scientists to conduct crucial research on the health of our oceans and the fish that live there. Replacing environment response barges will enable us to be better equipped to respond to environmental emergencies in Canadian waters.
Our government is also committed to major repair work on the fleet which will improve their availability and their reliability. In addition, we will extend the life of five existing multi-task coast guard vessels so they can continue to provide programs such as fishery conservation and protection patrols.
Work will be conducted in Canada where possible by shipyards located within the regions of the vessel's home ports. We intend to try to spread this work right across the country.
We have vessels in every region across the country from British Columbia to Newfoundland and Labrador, and our long term investments will provide support for shipbuilding. These investments will ensure that Canadian waters are safe, accessible and secure. These measures will speed up all funding initiatives so that they will directly benefit local economies, create jobs and strengthen communities.
Let there be no doubt that our government is working to minimize the impact of the economic downturn as much as possible.
As the first federally elected Conservative from P.E.I. in 20 years, I am proud to represent Egmont in this House. In this budget, our government actions will translate into real jobs and real jobs for Islanders. We all realize that P.E.I. is not immune to what is happening on the world stage, however, Islanders will see significant benefit from our action plan on the economy. As the Minister of Finance said yesterday, Islanders will benefit from projects like the Summerside wind project and the wharf repairs at Wood Islands and Miminegash.
Small businesses will be eligible for tax relief and our heritage programs will benefit from cultural infrastructure investments.
P.E.I. will also receive its share of our investments in social housing help for Canadians on fixed incomes, including $400 million for new social housing for seniors and $75 million for new social housing for persons with disabilities.
