Mr. Speaker, it is certainly a privilege today to speak on behalf of all the good citizens of Miramichi riding. I congratulate the Minister of Finance and our Prime Minister for a budget that finally addresses the terrible problem of the annual deficit in Canada.
As I listened to the members opposite, I heard concerns being expressed that it was not the Minister of Finance but rather the Canadian people who balanced this budget. I assure them that it was the Canadian people who balanced this budget, but the Canadian people did this after receiving strong leadership, direction and a commitment to make sure the finances of this country were brought under control.
Fifty-two months ago when our party took control of the government, we were faced with a terrible situation in terms of our country almost being on the verge of bankruptcy. The annual deficits were in the vicinity of $40 billion to $50 billion each year. The international bankers were almost on our doorsteps.
It is interesting to note that members opposite do not seem to recognize the necessity of saying to our Minister of Finance that he has done a very good job in bringing our deficit under control.
In 1993-94 the government recognized that a comprehensive strategy was needed in order that our government and our country could be brought back to a fresh new direction. It had to bring confidence back into our economy. It had to bring forward programs that would eliminate waste, that would develop new markets, that would attract new investment and above all that would restore some hope and confidence for our Canadian people.
This budget in 1998 is a continuation of the plan that was set forward in 1994. On February 24, for the first time in 30 years, the Minister of Finance brought forward a budget that was balanced in terms of our Canadian nation. That is an outstanding accomplishment.
All Canadians can take pride in the fact that we now have brought our economy and our government spending under control. We are facing an opportunity now to enter the 21st century with a sound economic and fiscal approach to our government and to our country.
This ever improving financial situation for Canada has helped drive down interest rates. Those wanting to invest in our country today have some of the best interest rates that they have had in the last 30 years.
We have heard today about employment and unemployment. Being from the Miramichi I have to be continually concerned with the need for our people to seek employment. We have had difficulties in the Miramichi. In 1996 we saw the closure of base Chatham. We saw a lot of people lose their jobs. That along with the difficulties that we have in Atlantic Canada was a major concern for us and the province of New Brunswick.
I am happy to report today on the outcome. Great efforts have been put forward by our former premier Frank McKenna, by members of the legislative assembly of the province of New Brunswick and by our community leaders in the Miramichi. All of us have worked together to enhance our economy and to provide more job opportunities for our people.
The member opposite alluded to youth. In our country we have to be continuously concerned that our youth are provided with opportunities where they can obtain successful and rewarding employment.
In the last few years we have seen the unemployment rate in this country drop from 11.2% to approximately 9%. This has certainly been an achievement. Our government must work diligently to make sure that unacceptable levels of unemployment especially among young Canadians remains a very great concern.
Recently we announced the internship program. Some 3,000 people will be offered an opportunity to take part in internship with governments and private industry.
We also see in this budget that employers who hire young people between the ages of 18 and 24 will be given an employment insurance benefit holiday for the youth they hire in the years 1999 and 2000. Every member of Parliament has to make sure that our young people, our most enthusiastic workers in many cases, are given opportunities to get gainful employment.
We talked about the great national debt which approaches some $600 billion, a legacy of overspending particularly by the governments before us. This debt is affecting the lives of all Canadians. Some 28.3 cents of every tax dollar are committed toward paying the interest on that debt. All of us on all sides of the House must make sure that we continually approach the concept that reducing that debt will be in the best interests of all Canadians.
The debt has to have a rigorous program to make sure that it is maintained and kept under control and above all, eventually brought down to a minimum. We hear people casting stones about the debt. All Canadians have some degree of debt, whether it be a mortgage, a car loan or some personal loan. As Canadians, even though we have to look at the debt in different ways, we must assume that the debt generally has been used to pay for some worthwhile assets that our country now has.
We find that more than 14 million Canadians will only get a minor break in tax relief, but it is a start. It is a beginning. We have the $500 increase in the amount of dollars people can claim on a non-taxable basis. This will benefit most Canadians, especially those in the lower and middle income groups.
We also have to recognize that money is being put into the child tax benefit program by which Canadians of lower incomes, below $20,921, can receive $1,625 for the first child and $1,425 for each additional one.
I am also happy to see the great attention being placed on education in this budget. We have certain breaks now for those who are having difficulty with their student loans. We have the concept of Canadians being able to invest in their children's education. The Canada education savings grant program will mean the government too will contribute toward the annual amount that each taxpayer can contribute into an RESP.
I see my time is running out and I have to shorten my speech. Overall I would say that most young people in this country, most university students, most of our youth see this budget as a very favourable beginning.
University programs have been good. We also see the concept of money being offered in terms of tax breaks to those who volunteer as firefighters and members of local fire departments.
In general even though we may hear criticisms from the other side of the floor, I think this is only part of our governmental process. We on this side of course are doing our best to make sure that the programs are well explained. On the other side, and I see some members nodding, it is their duty to point out what is difficult in the budget.
I would like to see more positive solutions instead of negative criticisms which really add very little to our debate. Hopefully before the vote is held tonight, we will hear some more positive remarks from those members who are sitting opposite.