Thank you very much.
Mr. Chair, I am pleased to appear before you and the members of the committee to discuss the bill to implement certain provisions of the budget tabled in Parliament on April 16, 2024. The bill would implement many of the important measures in this year's budget. Our budget and the measures in this bill are intended to provide a fair chance for all generations.
These measures include a plan to make housing more affordable. This plan will help millennials and generation Z become homeowners, and it will enable them to save for a first down payment by offering them non-taxable shares, which is very helpful.
We're also putting more homes back on the market by cracking down on short-term rentals and by banning foreign buyers of Canadian homes. We're making life cost less, and we're strengthening Canada's social safety net for every generation, from expanding the Canada student loan forgiveness program to supporting workers across health care and social services who work in rural and remote communities to launching a national school food program to making switching Internet and phone plans easier and more affordable.
We're also increasing investment and productivity, including by delivering two more major investment tax credits to attract more private investment, create more good-paying jobs and grow the economy.
Mr. Chair, these investments are built upon a fiscally responsible plan. Last week, Moody's, one of the leading credit ratings agencies, reaffirmed Canada's AAA rating with a stable outlook. Moody's also predicts that over the medium term, Canada will see more growth than some other AAA economies and that inflation will remain near the Bank of Canada's midpoint target of 2%.
This is a powerful, independent, objective proof point. A AAA credit rating means that Canada's economy is strong and resilient. It means that our economic plan is fiscally responsible. It means that we can afford to make the investments Canada needs and create the good jobs Canadians need. It means that the federal government can responsibly invest and borrow at lower costs, as can other orders of government and Canadian businesses.
Our triple-A credit rating also shows that the Conservative leader would rather make inflammatory statements and mislead Canadians than admit the truth. Our government's plan is fiscally responsible. The reality is that the Conservative leader simply does not want to make the investments needed to give young Canadians the opportunities they deserve. While the Conservative Party is looking for excuses to reduce investments in Canadians, our government is taking action.
That is why I am asking my parliamentary colleagues to pass the bill to implement certain provisions of the budget tabled in Parliament on April 16, 2024, as quickly as possible. Young Canadians are counting on us.
Thank you very much. I look forward to your questions.