My colleague from Waterloo reminds me of the making of shoes.
These industries remain but they do not employ as many people as they did earlier. Those thousands of jobs that have been lost in what we call the more traditional industries, which are still extremely important, have been replaced by others such as jobs in educational institutions, for example. A great university and one of Canada's leading community colleges are located in Kitchener-Waterloo. The auto sector and the aerospace industry have grown to fill the gap created by the loss of other industries. We have developed a fairly significant high tech sector.
The budget will help Kitchener maintain its competitive edge. An additional $270 million have been allocated over the next three years to encourage technological innovation. We have created through the technology partnership program in excess of $500 million over the next three years which will assist the aerospace industry in our area as well as in other industries.
For our youth in this year's budget we have allowed $30 million over the next three years for SchoolNet, an Internet computer program for young students. It is a program that I have personally examined and have found to be a remarkable achievement for Industry Canada. Its benefits can only be imagined in terms of the work done in schools and the effects it will have on young Canadians.
Once again this budget has created opportunities for youth and has dealt with the problems of the past. We have looked at the opportunities for the future and we can be proud that finally we are dealing with the hopes and fears of all Canadians, not only in Kitchener but throughout Canada.