Thank you. I'm almost done.
The project in Iqaluit is a hydro project. It's a very exciting project. It's going to ensure that Iqaluit and individuals in remote communities don't have to burn diesel to power their communities and heat their homes, which is what they do now. I hope I don't botch the number, but I think it's 13 million litres of diesel. I'm going to check that just to make sure. It's a very significant amount of diesel that will no longer need to be burned in those communities, obviously saving those emissions from entering our atmosphere. It's contributing to our action on climate change while also ensuring that those communities have renewable and reliable energy for many generations to come.
I think that's good news. There's no way to spin that as bad news. We had better than expected job numbers. I always say, “Well, there's no way the Conservatives could spin that as bad news,” and they still do anyway. They stretch it and they contort it into bad news somehow. They find a way. When the economy grows, they're going to spin it into bad news. It's always the way. I guess it's just something I've gotten used to over six years of being in Parliament. There's no missed opportunity to turn good news into bad news when it comes to the Conservatives today.
I really believe in our budget. I believe in the trade diversification work that the Prime Minister is obviously today in Parliament being criticized for. Conservatives don't want our Prime Minister to be out there diversifying our trade, disentangling our economy from the U.S. and actually counteracting the significant drags on our economy that we're experiencing.
It's as if, at all costs, our economy needs to fail so that their narrative can stay in existence and that we don't take the wind out of their narrative. It's a shame that they don't really care about Canadians actually being successful but rather just seem to want us to fail. They think that owning the Liberals is a way to somehow support Canadians, but it's not. It's not support for anybody. It's actually just disrupting the progress and the growth in our economy that will be achieved by passing the budget implementation act.
There are so many measures in the BIA. I've had a chance to go through it. I'm very lucky as Parliamentary Secretary to the Minister of Finance to have had the chance to dive into the details on the BIA. There are so many tax deductions and very useful aspects of the BIA that relate to so many things that Canadians want to see. There are so many aspects of our economy and society that will be strengthened.
Just on the defence portion of it, our defence industrial strategy continues to support that industrial base that I talked about. I remember when we met with National Bank's chief economist—