I commend this committee for passing that motion.
It's critically important to see the scale of investment that's needed for the disasters and droughts of this past summer. The severity of the crisis we're seeing continues to be demonstrated. With the drought that's continuing right now, we're seeing that the drinking water supplies for first nations and municipalities are dangerously low.
The village of McBride is still in a local state of emergency. Ranchers are running out of hay for cattle, river systems are running low, and hydro power production is experiencing a significant reduction due to those water levels. Investment allows us to get ahead of these crises. It allows us to do the work that advances the potential to get to watershed security.
Some research was done to look at the scale of need. This is on the generous side, but we're looking at $3 billion, which is about $300 million annually, that needs to be invested in our watersheds to get ahead. That goes to rebuilding our natural defences, such as forests, wetlands, and stream banks. These are really the critical first lines of defence against—