Thank you, Chair Carr.
We hear it in the House of Commons every day, and we have known that we are in a trade war. The Government of the United States is attacking our core industries with impunity, and attacking us particularly egregiously in the steel sector. Every independent sovereign country needs to have its own steel industry. That is what is egregious in this context.
It's clear—and I believe that some of the leaders in Sault Ste. Marie have said so—that the federal government investments are actually improving a situation that would have been far worse and allowing Algoma Steel to retain roughly two-thirds of the jobs. Federal government support is also helping Algoma Steel to transition to a new way of manufacturing, a way that is green.
Nonetheless, it's awful for 1,000 families to receive layoff notices just a couple of weeks before the holidays. I don't think there's a Canadian who doesn't feel for them. I'm more interested in looking at how we can provide supports immediately. In fact, a report to the House at this point would take up some of the time remaining before the holiday break. In that time, what we need to do is pass the budget, which has a number of measures that will actually help these families immediately. These include several new employment insurance provisions that combine permanent enhancements and temporary measures that respond to economic uncertainty, sadly, for these exact situations.
The federal budget also has a number of measures to support tariff-affected industries so that they can sustain if not all of their workers then some of their workers. It creates a path. We are ramping up on major projects in this country that will require steel, aluminum, lumber and workers. What we need to do is support people. The Government of Canada and all of the parties in the House of Commons need to be supporting these workers and these industries through what is a really difficult time.
Some of the things we find in budget 2025 that we should pass before the holidays, that we should make use of House time for, and the members could speak to these challenges in the context of the debate on Bill C-15, which is the budget implementation act.... One of these things is faster access to EI benefits. The one-week waiting period for EI claims has been waived for claims that will be filed to allow workers to receive their benefits immediately. How critical is this for these families who want to know how they're going to pay their rent, their mortgage and their groceries? This improvement and the faster access to EI benefits are really important.
Also, there are changes wherein severance or vacation pay will no longer delay EI, and that is important as well. I don't begin to understand what the union agreements are or what the severance payments will look like. I hope they are generous, and I hope that Algoma is thoughtful in how it cares for these families and these workers, who have been loyal to them and who are highly skilled and are, hopefully, ready to go back to work should there be an increase in production.
There is also an increase in EI. Those EI benefits will increase. Those benefits will rise from 55% to 60% of insurable earnings for regular benefits. The maximum weekly benefit will increase from $650 to $720. There will be expanded eligibility for part-time and self-employed workers. I don't know what the mix is for the workers at Algoma Steel, and whether there are part-time workers there as well.
There is also workforce support in budget 2025. This is so important not only for the steel workers but also for all Canadians who are in sectors that are currently being displaced by these American tariffs. The Conservatives want to point at the Liberal government. The assault here is coming from the United States. We should be unified in supporting the workers who are affected.
That labour market development is $70 million over three years to retrain and upskill up to 10,000 steelworkers, plus income support for displaced workers, and also work-sharing programs. I know that the Minister of Industry is working with Algoma Steel and with the leadership in Sault Ste. Marie to try to find supports immediately for those workers and also for the sector.
A number of things in the budget will not only support the workers immediately; they will also strengthen our steel sector in the coming years. We heard just last week—it was very well received in Hamilton from the steel sector—about new changes around tariff rate quotas and around anti-dumping, which has been a challenge in this country for a long time. We will end the temporary tariff remission.
The buy Canadian policy will be helpful. Infrastructure and housing activities and freight rate reductions are really important in terms of getting that steel across the country. The strategic innovation fund has over $1 billion committed to help steel producers modernize their facilities, expand their capacity and diversify product lines. There's also the large enterprise tariff loan facility, which was the $400 million that was received by Algoma Steel. We're looking for the long-term competitiveness of the sector.
Mr. Chair, I think we could get more information. We could potentially have a future conversation. In this urgent moment, I think it's more important for the House of Commons to be focused on how we help these workers and affected sectors.