Bill C-4 (Historical)

Economic Action Plan 2013 Act No. 2

A second act to implement certain provisions of the budget tabled in Parliament on March 21, 2013 and other measures

Part 1 implements certain income tax measures proposed in the March 21, 2013 budget. Most notably, it
(a) increases the lifetime capital gains exemption to $800,000 and indexes the new limit to inflation;
(b) streamlines the process for pension plan administrators to refund a contribution made to a Registered Pension Plan as a result of a reasonable error;
(c) extends the reassessment period for reportable tax avoidance transactions and tax shelters when information returns are not filed properly and on time;
(d) phases out the federal Labour-Sponsored Venture Capital Corporations tax credit;
(e) ensures that derivative transactions cannot be used to convert fully taxable ordinary income into capital gains taxed at a lower rate;
(f) ensures that the tax consequences of disposing of a property cannot be avoided by entering into transactions that are economically equivalent to a disposition of the property;
(g) ensures that the tax attributes of trusts cannot be inappropriately transferred among arm’s length persons;
(h) responds to the Sommerer decision to restore the intended tax treatment with respect to non-resident trusts;
(i) expands eligibility for the accelerated capital cost allowance for clean energy generation equipment to include a broader range of biogas production equipment and equipment used to treat gases from waste;
(j) imposes a penalty in instances where information on tax preparers and billing arrangements is missing, incomplete or inaccurate on Scientific Research and Experimental Development tax incentive program claim forms;
(k) phases out the accelerated capital cost allowance for capital assets used in new mines and certain mine expansions, and reduces the deduction rate for pre-production mine development expenses;
(l) adjusts the five-year phase-out of the additional deduction for credit unions;
(m) eliminates unintended tax benefits in respect of two types of leveraged life insurance arrangements;
(n) clarifies the restricted farm loss rules and increases the restricted farm loss deduction limit;
(o) enhances corporate anti-loss trading rules to address planning that avoids those rules;
(p) extends, in certain circumstances, the reassessment period for taxpayers who have failed to correctly report income from a specified foreign property on their annual income tax return;
(q) extends the application of Canada’s thin capitalization rules to Canadian resident trusts and non-resident entities; and
(r) introduces new administrative monetary penalties and criminal offences to deter the use, possession, sale and development of electronic suppression of sales software that is designed to falsify records for the purpose of tax evasion.
Part 1 also implements other selected income tax measures. Most notably, it
(a) implements measures announced on July 25, 2012, including measures that
(i) relate to the taxation of specified investment flow-through entities, real estate investment trusts and publicly-traded corporations, and
(ii) respond to the Lewin decision;
(b) implements measures announced on December 21, 2012, including measures that relate to
(i) the computation of adjusted taxable income for the purposes of the alternative minimum tax,
(ii) the prohibited investment and advantage rules for registered plans, and
(iii) the corporate reorganization rules; and
(c) clarifies that information may be provided to the Department of Employment and Social Development for a program for temporary foreign workers.
Part 2 implements certain goods and services tax and harmonized sales tax (GST/HST) measures proposed in the March 21, 2013 budget by
(a) introducing new administrative monetary penalties and criminal offences to deter the use, possession, sale and development of electronic suppression of sales software that is designed to falsify records for the purpose of tax evasion; and
(b) clarifying that the GST/HST provision, exempting supplies by a public sector body (PSB) of a property or a service if all or substantially all of the supplies of the property or service by the PSB are made for free, does not apply to supplies of paid parking.
Part 3 enacts and amends several Acts in order to implement various measures.
Division 1 of Part 3 amends the Employment Insurance Act to extend and expand a temporary measure to refund a portion of employer premiums for small businesses. It also amends that Act to modify the Employment Insurance premium rate-setting mechanism, including setting the 2015 and 2016 rates and requiring that the rate be set on a seven-year break-even basis by the Canada Employment Insurance Commission beginning with the 2017 rate. The Division repeals the Canada Employment Insurance Financing Board Act and related provisions of other Acts. Lastly, it makes technical amendments to the Employment Insurance (Fishing) Regulations.
Division 2 of Part 3 amends the Trust and Loan Companies Act, the Bank Act and the Insurance Companies Act to remove the prohibition against federal and provincial Crown agents and federal and provincial government employees being directors of a federally regulated financial institution. It also amends the Office of the Superintendent of Financial Institutions Act and the Financial Consumer Agency of Canada Act to remove the obligation of certain persons to give the Minister of Finance notice of their intent to borrow money from a federally regulated financial institution or from a corporation that has deposit insurance under the Canada Deposit Insurance Corporation Act.
Division 3 of Part 3 amends the Trust and Loan Companies Act, the Bank Act, the Insurance Companies Act and the Cooperative Credit Associations Act to clarify the rules for certain indirect acquisitions of foreign financial institutions.
Division 4 of Part 3 amends the Criminal Code to update the definition “passport” in subsection 57(5) and also amends the Department of Foreign Affairs, Trade and Development Act to update the reference to the Minister in paragraph 11(1)(a).
Division 5 of Part 3 amends the Canada Labour Code to amend the definition of “danger” in subsection 122(1), to modify the refusal to work process, to remove all references to health and safety officers and to confer on the Minister of Labour their powers, duties and functions. It also makes consequential amendments to the National Energy Board Act, the Hazardous Materials Information Review Act and the Non-smokers’ Health Act.
Division 6 of Part 3 amends the Department of Human Resources and Skills Development Act to change the name of the Department to the Department of Employment and Social Development and to reflect that name change in the title of that Act and of its responsible Minister. In addition, the Division amends Part 6 of that Act to extend that Minister’s powers with respect to certain Acts, programs and activities and to allow the Minister of Labour to administer or enforce electronically the Canada Labour Code. The Division also adds the title of a Minister to the Salaries Act. Finally, it makes consequential amendments to several other Acts to reflect the name change.
Division 7 of Part 3 authorizes Her Majesty in right of Canada to hold, dispose of or otherwise deal with the Dominion Coal Blocks in any manner.
Division 8 of Part 3 authorizes the amalgamation of four Crown corporations that own or operate international bridges and gives the resulting amalgamated corporation certain powers. It also makes consequential amendments and repeals certain Acts.
Division 9 of Part 3 amends the Financial Administration Act to provide that agent corporations designated by the Minister of Finance may, subject to any terms and conditions of the designation, pledge any securities or cash that they hold, or give deposits, as security for the payment or performance of obligations arising out of derivatives that they enter into or guarantee for the management of financial risks.
Division 10 of Part 3 amends the National Research Council Act to reduce the number of members of the National Research Council of Canada and to create the position of Chairperson of the Council.
Division 11 of Part 3 amends the Veterans Review and Appeal Board Act to reduce the permanent number of members of the Veterans Review and Appeal Board.
Division 12 of Part 3 amends the Canada Pension Plan Investment Board Act to allow for the appointment of up to three directors who are not residents of Canada.
Division 13 of Part 3 amends the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to extend to the whole Act the protection for communications that are subject to solicitor-client privilege and to provide that information disclosed by the Financial Transactions and Reports Analysis Centre of Canada under subsection 65(1) of that Act may be used by a law enforcement agency referred to in that subsection only as evidence of a contravention of Part 1 of that Act.
Division 14 of Part 3 enacts the Mackenzie Gas Project Impacts Fund Act, which establishes the Mackenzie Gas Project Impacts Fund. The Division also repeals the Mackenzie Gas Project Impacts Act.
Division 15 of Part 3 amends the Conflict of Interest Act to allow the Governor in Council to designate a person or class of persons as public office holders and to designate a person who is a public office holder or a class of persons who are public office holders as reporting public office holders, for the purposes of that Act.
Division 16 of Part 3 amends the Immigration and Refugee Protection Act to establish a new regime that provides that a foreign national who wishes to apply for permanent residence as a member of a certain economic class may do so only if they have submitted an expression of interest to the Minister and have subsequently been issued an invitation to apply.
Division 17 of Part 3 modernizes the collective bargaining and recourse systems provided by the Public Service Labour Relations Act regime. It amends the dispute resolution process for collective bargaining by removing the choice of dispute resolution method and substituting conciliation, which involves the possibility of the use of a strike as the method by which the parties may resolve impasses. In those cases where 80% or more of the positions in a bargaining unit are considered necessary for providing an essential service, the dispute resolution mechanism is to be arbitration. The collective bargaining process is further streamlined through amendments to the provision dealing with essential services. The employer has the exclusive right to determine that a service is essential and the numbers of positions that will be required to provide that service. Bargaining agents are to be consulted as part of the essential services process. The collective bargaining process is also amended by extending the timeframe within which a notice to bargain collectively may be given before the expiry of a collective agreement or arbitral award.
In addition, the Division amends the factors that arbitration boards and public interest commissions must take into account when making awards or reports, respectively. It also amends the processes for the making of those awards and reports and removes the compensation analysis and research function from the mandate of the Public Service Labour Relations Board.
The Division streamlines the recourse process set out for grievances and complaints in Part 2 of the Public Service Labour Relations Act and for staffing complaints under the Public Service Employment Act.
The Division also establishes a single forum for employees to challenge decisions relating to discrimination in the public service. Grievances and complaints are to be heard by the Public Service Labour Relations Board under the grievance process set out in the Public Service Labour Relations Act. The process for the review of those grievances or complaints is to be the same as the one that currently exists under the Canadian Human Rights Act. However, grievances and complaints related specifically to staffing complaints are to be heard by the Public Service Staffing Tribunal. Grievances relating to discrimination are required to be submitted within one year or any longer period that the Public Service Labour Relations Board considers appropriate, to reflect what currently exists under the Canadian Human Rights Act.
Furthermore, the Division amends the grievance recourse process in several ways. With the sole exception of grievances relating to issues of discrimination, employees included in a bargaining unit may only present or refer an individual grievance to adjudication if they have the approval of and are represented by their bargaining agent. Also, the process as it relates to policy grievances is streamlined, including by defining more clearly an adjudicator’s remedial power when dealing with a policy grievance.
In addition, the Division provides for a clearer apportionment of the expenses of adjudication relating to the interpretation of a collective agreement. They are to be borne in equal parts by the employer and the bargaining agent. If a grievance relates to a deputy head’s direct authority, such as with respect to discipline, termination of employment or demotion, the expenses are to be borne in equal parts by the deputy head and the bargaining agent. The expenses of adjudication for employees who are not represented by a bargaining agent are to be borne by the Public Service Labour Relations Board.
Finally, the Division amends the recourse process for staffing complaints under the Public Service Employment Act by ensuring that the right to complain is triggered only in situations when more than one employee participates in an exercise to select employees that are to be laid off. And, candidates who are found not to meet the qualifications set by a deputy head may only complain with respect to their own assessment.
Division 18 of Part 3 establishes the Public Service Labour Relations and Employment Board to replace the Public Service Labour Relations Board and the Public Service Staffing Tribunal. The new Board will deal with matters that were previously dealt with by those former Boards under the Public Service Labour Relations Act and the Public Service Employment Act, respectively, which will permit proceedings under those Acts to be consolidated.
Division 19 of Part 3 adds declaratory provisions to the Supreme Court Act, respecting the criteria for appointing judges to the Supreme Court of Canada.

Economic Action Plan 2013 Act No. 2

[Christine Moore, NDP, Abitibi—Témiscamingue, QC]

Mr. Speaker, I would like to continue on the theme discussed by the Parliamentary Secretary and by my colleague.

Quebec has the CSST, and matters of occupational health and safety and the right to opt out are legislated. Employees of companies under provincial jurisdiction come under the CSST in Quebec.

I would like to know if, in Quebec, everything had to be centralized in the hands of the minister in order to create a system that works. Can we have a good system that works without putting everything in the hands of the minister?

[Isabelle Morin, NDP, Notre-Dame-de-Grâce—Lachine, QC]

Mr. Speaker, I thank my colleague, the member for Abitibi—Témiscamingue, for her question and the good work she does in her riding.

She asked me whether we had to leave everything in the hands of the minister. That is what I have seen the Conservatives do since I arrived in Parliament: they have tried to grab more and more power. That was the case for the Minister of Citizenship and Immigration and the Minister of Human Resources and Skills Development.

The Conservatives want to have all the power and control what is happening on the ground. That is not what the government should be doing. Instead, it should be creating laws and letting people apply them. I find this to be very dangerous.

As my colleague mentioned, Quebec has a system that works quite well. It is not the minister who decides how to manage everything and I believe that things should stay that way. We have a good system that is working, and I think it is deplorable for the Conservatives to once again try to grab more power.

[Joy Smith, Conservative, Kildonan—St. Paul, MB]

Mr. Speaker, it is my pleasure this morning to speak to the budget implementation issue.

I would like to highlight some items that are extremely important to all Canadians. Sometimes when we look at all the issues we forget the umbrella over which the budget was built.

Two and a half years ago, Canadians gave our government a mandate to create jobs, keep taxes low, and help make our streets and communities safer. In an uncertain and unstable world, our Conservative government has led us through tough economic times.

The results are clear. With one million net new jobs added since the recession, we lead the G7 on job creation and on the strength of our balance sheet. Canada now leads the G7 in job creation, in income growth, and in keeping debt levels low. We are the leader.

Canada is now among only a few countries in the world with an AAA credit rating. However, we know we need to do more. Canadians have a rare opportunity to build on our stable democracy, our sound finances, our expanding trade relationships, our strong communities, and our skilled workforce. This is Canada's moment, and it is our government's job to seize the moment for the benefit of all Canadians.

That is why the recent throne speech laid out three priorities for our government moving forward. Number one is to create jobs and opportunities for Canadians; number two is to support and protect Canadian families; number three is to put Canada first.

Our priorities are about making sure that Canada is leading the world so that Canadians who work hard, pay their taxes, and play by the rules can get ahead. Our work will be guided by our values: the belief in low taxes, small government, a thriving private sector that creates jobs for Canadians, protecting our communities from criminals and drug pushers, and believing that Canada is the best country on earth to live in.

In our throne speech, our government committed to pursuing free trade agreements, such as the Canada-EU free trade agreement. I am proud that our government has already delivered on this promise. One in five Canadian jobs depends on exports. Our prosperity hinges on opening new markets for Canadian goods, services, and investments. I congratulate our government for signing an agreement in principle of a comprehensive economic and trade agreement with the European Union, an agreement that has the potential to create 80,000 new Canadian jobs. This is an historic win for Canada and means thousands of new jobs for Canadians and half a billion new customers for Canadian businesses.

Manitoba has much to gain from this 21st century. I am from Manitoba, and I am very proud because I know 40¢ on the dollar has been put forward from the federal government to keep Manitoba going. Now Manitoba, my province, has much to gain from this 21st century, gold-standard trade agreement. The elimination of 98% of all EU tariffs on the first day that the agreement comes into force will translate into increased profits and opportunities for Canadian businesses of all sizes in every part of the country. This historic agreement with the EU is a big win for workers, businesses, and families in Kildonan—St. Paul, Manitoba, and all through Canada. Throughout the province, hard-working people of Manitoba will benefit, especially in key sectors of the local economy, such as advanced manufacturing, construction services, and agriculture.

In addition to tariff elimination, CETA provides improved access to EU markets for Canadian goods and services; greater certainty, transparency, and protection for investments; and new opportunities in EU procurement markets.

An earlier joint study concluded that CETA could bring a 20% boost in bilateral trade and a $12 billion annual increase to Canada's economy. That is the equivalent of adding $1,000 to the average Canadian household income or 80,000 new jobs to the Canadian economy. That is amazing.

CETA is by far Canada's most ambitious trade initiative, broader and deeper in scope than the historic North American Free Trade Agreement known as NAFTA.

Economic action plan 2013 is something else that would strengthen this record with action in all areas that drive economic prosperity.

Today I would like to highlight some of the excellent measures that would benefit the hardworking families and individuals in Kildonan—St. Paul and in the province of Manitoba.

The act would implement key measures from economic action plan 2013 as well as certain previously announced tax measures to help create jobs, stimulate growth, and secure Canada's long-term prosperity.

Measures in economic action plan 2013 act no. 2 are aimed at spurring job creation and economic growth. These kinds of things include providing record transfer support for social and health services in Manitoba and a significant number of dollars to ensure that necessary programs are well funded, such as in schools and hospitals. In fact, in 2013-2014, the federal transfer support to Manitoba would be $643 million higher than it was under the former Liberal government.

We all remember that the former Liberal government slashed transfers for health care and education. I remember it well. Our Conservative government rejects that shameful practice and is protecting and growing transfers to help support the services Manitoba families depend on.

For Manitoba, total major transfers would total $3.4 billion in 2013. These would include almost $1.8 billion through equalization, an increase of $191 million, or almost 12%, since 2005-2006 under the former Liberal government; $1.1 billion through the Canada health transfer, an increase of $336 million, or almost 43%, since 2005-2006 under the former Liberal government; $443 million through the Canada social transfer, an increase of $109 million, or almost 33%, since 2005-2006 under the former Liberal government; and almost $7 million in total transfer protection. I remember this well, because I was an MLA at the time.

This is good news for Manitoba and a key assurance that our government is committed to the long-term prosperity of our province of Manitoba.

One area of the budget I would like to highlight is programs designed to help create jobs. These are very important programs. Our Conservative government would extend and expand the hiring credit for small business, which would benefit an estimated 560,000 employers.

Canada's small businesses are engines for job creation that boost economic growth. They represent 48% of the total labour force in the private sector and contribute approximately 30% to Canada's GDP. The federal government recognizes the important contribution made by small businesses all across the country and the challenges they face. This temporary credit would provide up to $1,000 against a small firm's increase in its 2013 employment insurance premiums over those paid in 2012 to employers with total EI premiums of $15,000 or less in 2012. This is very good news for Canadian businesses.

Other job creator initiatives would include increasing and indexing the lifetime capital gains exemption to make investing in small business more rewarding; expanding the accelerated capital cost allowance to further encourage investments in clean energy generation; and freezing employment insurance premium rates for three years, leaving $660 million in the pockets of job creators and workers in 2014 alone.

Another area of the budget implementation act I would like to highlight today is our Conservative government's efforts to control direct program spending with common sense proposals for making government more efficient and productive. This would include setting public service pay and benefits levels that are reasonable, responsible, and in the public interest.

There are so many other things, such as closing tax loopholes and the building Canada fund. The building Canada fund would provide $14 billion over ten years to support major economic infrastructure projects in Manitoba and all across Canada.

In this time of economic constraint, it is very important that people are working and that Canadians are able to live well and grow their families in prosperity, happiness, and safety. This is why Canada is a remarkable country under the leadership of our Prime Minister, Stephen Harper, and our government.

[The Deputy Speaker, NDP, Joe Comartin]

I would draw to the attention of the member that it is not permitted to use the name of a sitting member of the House.

The hon. member for Chicoutimi—Le Fjord.

[Dany Morin, NDP, Chicoutimi—Le Fjord, QC]

Mr. Speaker, I would like to talk about an aspect of Bill C-4 that bothers me.

Earlier, during the debate on Bill C-4, a number of Conservatives boasted that their government has cut taxes, which benefits Canadians. However, they forgot to mention that the Conservative government sometimes increases taxes. This bill contains a tax increase of $350 million. Who will pay the price? Labour-sponsored venture capital funds, also known as workers' funds.

Quebec is known for its good labour-sponsored funds. For some years, these venture capital funds have been invested in communities. These funds are used to help start up and grow businesses.

The Conservative government is appalling. I also want to talk about this government's hypocrisy, because it boasts about lowering taxes when it is to their benefit, but increases them in other sectors.

Could my Conservative colleague, whom I respect very much, tell us if the Conservatives will reverse its decision and remove this harmful $350 million tax that will kill jobs.

[Joy Smith, Conservative, Kildonan—St. Paul, MB]

Mr. Speaker, I want to thank my colleague, who does such an excellent job on the health committee. I very much respect his question. However, I want to put the focus on the umbrella part I talked about at the beginning.

In terms of helping businesses succeed and relieving tax breaks, our government has put forward a myriad of tax breaks to grow business and prosperity. There is the new manufacturing machinery and equipment tax break for businesses. There is the expansion of the hiring credit for small business, which I talked about in my speech a little earlier. As we know, small business in Quebec, or anyplace else, is the engine of the economy in any province.

There is the increasing and indexing of the lifetime capital gains exemption, which is extremely important. This is very positive for business, because it increases the rewards for investing in small business by making it easier for the owners to transfer their family businesses. As we know, in Quebec, an awful lot of family businesses have grown, prospered, and become very famous for their goods.

There is also support for farmers. This is the bread basket of the world, and Quebec is the same. The current deduction limit for the restricted farm loss income tax would go from $8,750 to $17,500. That would help farmers right on the ground.

There are so many tax relief measures our government has given that far offset anything else that might have to be put in place to keep our economy balanced.

[Glenn Thibeault, NDP, Sudbury, ON]

Mr. Speaker, my hon. colleague talked about the umbrella when she talked about the things the government has been doing. I wonder if she could explain to us whether this umbrella includes the amendments to or repeals of 70 pieces of legislation in over 300 pages in this omnibus budget bill.

The bill would strip health and safety officers of their powers and put nearly all of these powers in the hands of the minister, significantly weakening the ability of employees to refuse work in unsafe conditions. It would move to eliminate binding arbitration as a method to resolve disputes in the public service. It would gut Canada's most scientific research institute, the NRC. It would reduce the number of members on the veterans review board. It would makes changes to the Supreme Court of Canada.

Are these the things the umbrella is including? They are right now in this budget bill. We on this side of the House cannot figure out why they would be in a budget bill. Maybe she could explain that. Are they under the umbrella?

[Joy Smith, Conservative, Kildonan—St. Paul, MB]

Mr. Speaker, Parliament is always interesting, because the job of the opposition is to be in opposition. However, I have to say that in research and innovation, our government has done so much. We have invested $20 million to help small and medium-size enterprises in my province, Manitoba, and all across the country. We have strengthened research partnerships, investing $37 million in Manitoba and across Canada, and have promoted clean projects.

There is so much that has been done to help business. Yes, it is the umbrella. That is why today our country has a sound, stable economic standing, and we have an AAA credit rating. I think the management of the finances of our country has been exemplary.

[Jay Aspin, Conservative, Nipissing—Timiskaming, ON]

Mr. Speaker, I rise today to speak to Bill C-4, introduced by Minister Flaherty on October 22, 2013.

[The Deputy Speaker, NDP, Joe Comartin]

I do not know what it is about this morning. The use of a sitting member's name is not permitted in the House. Refer to the minister as the Minister of Finance.

[Jay Aspin, Conservative, Nipissing—Timiskaming, ON]

Mr. Speaker, before I get into the details of the bill and how it will benefit Canada, and specifically my riding of Nipissing—Timiskaming, I would like to take a moment to give this House the context in which we consider this bill.

In early 2008, Canada was faced with the worst global economic downturn since the 1930s. However, thanks to the firm and responsible regulations that were put in place, Canada did not sink as low. This alone was not enough to keep Canada from following our neighbours. Our government saw investments dwindling, an unstable, unconfident marketplace, and millions of Canadians with their jobs at risk. Our government acted with resolve and initiative to introduce the economic action plan, which provided our economy with a $60-billion stimulus, including $12 billion in stimulus and $20 billion in tax relief.

Action plan after action plan, the government has continued to responsibly steer Canada through the global recession while simultaneously pushing taxes lower and removing barriers to trade and investment in Canada.

The ultimate result is that all Canadians can take pride that through our government's responsible and disciplined leadership, Canada has the best fiscal record in the G8. Our debt-to-GDP ratio is the absolute lowest. We are on the path to surplus. We hold a AAA credit rating. We have added over a million net new jobs to the economy, which has reduced unemployment lower than before the recession. Our markets remain responsibly regulated, stable, and dynamic.

However, our recovery is fragile and vulnerable to the actions of others. That is why Bill C-4 would have impact. Bill C-4 would project the government's low-tax, consumer, family-focused agenda into the future to ensure continued growth and long-term prosperity.

While Bill C-4 touches on all aspects of Canada's economy, I would like to highlight three areas of importance to my region and how Bill C-4 would help Nipissing—Timiskaming grow.

First, as we know, businesses are absolutely key to healthy communities. If the cost of business is too high, jobs will disappear. This is the plain truth, and it baffles me that the NDP and Liberals cannot comprehend it. Fundamentally, they believe that we can tax and spend ourselves out of every problem.

Nipissing—Timiskaming is home to many manufacturing companies. Aerospace and mining are major sectors for us. The accelerated capital cost allowance program introduced in Bill C-4, which would be extended for two years, would allow companies in my region to invest in new machinery and equipment, expand their operations, and stimulate growth and job creation.

Economic action plan 2013 would proactively address continued job growth and skills shortages through the Canada job grant. It is an initiative that would help workers get $15,000 toward valuable skills training. Our government understands that it is not enough to create new jobs; we have to make sure that there are skilled Canadians to fill them.

This kind of long-term, experienced thinking is exactly why, under this government, Canada has prospered while other countries continue to flounder.

I know that in my region, students and graduates of Canadore College would particularly benefit from the Canada job grant. These very same students, many of whom go into the skilled trades, would also benefit from the changes we are making to how apprenticeship accreditation works. Four million dollars over three years would be allocated to harmonize requirements among the provinces and to examine assessments.

Aerospace, in particular, would benefit. Over $1 billion would be invested in the aerospace and space sectors. Nipissing—Timiskaming has a long and proud history in airways, and I am confident that it will play a key role in our government's plan to consolidate and improve our fifth-place standing in the world. Aerospace companies and services in my community employ hundreds of people and provide them with secure, good-paying jobs. This will only grow under our government.

Second, I would like to specifically talk about small businesses. Small businesses are the lifeblood of the towns and communities in Nipissing—Timiskaming. They, in particular, would benefit from Bill C-4. Besides being able to take advantage of the Canada job grant, they would benefit from the hiring credit, which would freeze EI premiums, saving small businesses $1,000.

Small businesses, and in particular part-time farmers, would benefit from the increase to the lifetime capital gains exemption, which would increase by $50,000 to $800,000. Farmers would also benefit from the doubling of the restricted farm loss deduction, from $8,750 to $17,500.

Overall, thanks to the low-tax plan of our government, Bill C-4 and previous Conservative budgets, small businesses are paying $28,600 less in taxes. Canadians get it and Canadians got it in May 2011 when they sent the Conservative government to Ottawa with a majority. However, I will make it clear for my colleagues who remain a little confused that we have been cutting taxes and jobs have been created, one million net new jobs. Bills like Bill C-4 have cut taxes. Unemployment now is lower than before the recession. Our responsible long-term plan is working for Canada and Canadian families. I hope, after seven years, my colleagues will begin to understand that.

I want to touch on infrastructure. A major part of the original economic action plan, investment in infrastructure, underpins this budget and Canada's success. How would this be any different given our national history? In the infant stage of nationhood, it was the building of the transcontinental railroad that united Canada and set it on the path toward economic prosperity. The building Canada plan, the single largest infrastructure investment in our nation's history, will provide an additional $53 billion over several years to make sure our infrastructure is modern, safe and capable of helping us unlock more economic potential in our communities and from our resources. We cannot expect to grow without a firm base on which to stand. Infrastructure is that base.

Nipissing—Timiskaming has greatly benefited from infrastructure projects, particularly through FedNor. In particular, the airport, roads and community assets have been invested in. The expansion of the airport and upgrading of its services continue to make our region a more attractive place for continued investment in aerospace. Coupled with our government's aerospace prerogative, there is potential for real synergy. Investment in our roads and community infrastructure continues to open up the north and adds to our quality of life.

It is unfortunate that many of our neighbours suffered greatly, and continue to suffer, because of the global economic downturn. I as a Canadian am very grateful that our recession was not as impactful. Canadians recognize that our success is no accident. Canadians recognize that our continued economic leadership of the G8 is no accident. Canadians recognize that the government is not the answer, only a part of the solution. Our country has grown weary of the tax and spend promises of the Liberals and NDP, mostly because the money is never spent on the people, although it is they who are taxed.

Last, I want to draw to the attention of the House the fact that this government does not draft policy or budgets in a vacuum, but in a long-term, responsible and critical fashion. The effects of economic action plan 2013, Bill C-4 and future budgets, will greatly benefit from the recently announced Canada-European Union free trade agreement. The synergy is perfect. Bills like Bill C-4 help create a low-tax, investor-friendly market, while CETA removes barriers to trade and investment.

In conclusion, thanks to Bill C-4 and parallel government efforts, Canadians can continue to expect net job growth, world leadership in fiscal accountability and political stability, with an explicit focus on Canadian jobs, families and their pocketbooks. The government fully intends to seize Canada's moment for the benefit of all Canadians and I would urge my colleagues on the opposite side to support it. I look forward to questions from my colleagues.

[Christine Moore, NDP, Abitibi—Témiscamingue, QC]

Mr. Speaker, I want to mention that my riding shares a common border with that of my colleague from Nipissing—Timiskaming. When I travel by car to my riding, I regularly pass through his riding. It appears that we disagree on the Conservative budget.

When I talk to young people in his riding, they tell me that they are worried. More and more young people are unemployed. Salaries are not going up. Increasingly, they are holding down part-time jobs and the price of houses is very high. It is very hard for them to start a family. There is nothing in this budget for young people.

I would like to know if the hon. member has taken the time as well to talk to the young people in his riding and to listen closely to their concerns, or if he is only talking to the members of the business community.

[Jay Aspin, Conservative, Nipissing—Timiskaming, ON]

Mr. Speaker, my hon. colleague indeed frequents our riding and is always welcome there.

Yes, I talk to young people a number of times throughout the week and throughout the month. Basically, they are telling me that they want opportunities for training, and there are plenty in this budget as I mentioned.

One in particular is the Canada jobs grant. When the Canada jobs grant is fully formulated, it will provide $15,000 for young Canadians in my riding to get fully trained and obtain the skills they need to obtain and carry jobs in the future.

Another opportunity is the tremendous amount of money that the government has afforded for aerospace. We have an aerospace forum coming to the riding on November 8 and we hope to grow aerospace in our region as it is growing in Canada. We want to maintain our fifth-place standing and, in fact, want to enhance our standing.

It is my hope that we can attract investment to the North Bay region and help grow jobs in the economy, jobs for our younger people.

[Sean Casey, Liberal, Charlottetown, PE]

Mr. Speaker, at one point in an earlier debate, the Minister of Finance very eloquently said that the purpose of the budget implementation act was to implement the budget. When the budget speech was given last spring, there was a lengthy speech and there was a thick, glossy volume of some hundreds of pages, with a blue and white cover and an economic action plan title.

I wonder if the hon. member might be able to point us to the reference in the budget speech or documents to the proposed changes to the Supreme Court Act.

[Jay Aspin, Conservative, Nipissing—Timiskaming, ON]

Mr. Speaker, I am sorry, but I cannot specifically point to that reference and am not familiar with it.