Madam Speaker, it is a great pleasure to rise in the House today to participate in the throne speech debate.
First I would like to take this opportunity to congratulate Her Excellency our new Governor General on her historic appointment. I wish her nothing but the very best of luck in the years ahead with her new and important responsibilities.
The government's throne speech is a blueprint which lays the foundation for the government's plans in the years to come. As we approach the new millennium, there is an unprecedented optimism in Canada's future which is captured in the eloquence of the throne speech. What an unbelievable change from just a few short years ago.
In 1993, the last year of the Conservative government, Canada's fiscal house was crumbling on its very foundation. The previous Conservative government let the debt skyrocket out of control for years and was operating with a $42 billion deficit. The country was literally teetering on the brink of financial disaster. Liberals understood that if Canada was to be a global force to be reckoned with in the new millennium, we absolutely had to get this country back on track. Canada needed bold leadership, sound fiscal policy and unparalleled political courage to restore our national future.
Six years later, we have delivered. Canada has moved from red ink to black ink, from pessimism to pride. In four short years we eliminated the deficit and recorded a budgetary surplus of $3.5 billion in 1998, the first surplus in 28 years. We have regained the capacity to make choices of how we build the future. We are now positioned to be a leader in the new and ever changing global arena.
This throne speech for the millennium builds upon our original and balanced and comprehensive plan. We are committed to staying the course in an effort to improve the lives of each and every Canadian. Our plan includes developing our children and youth, leaders for the 21st century; enhancing our dynamic economy; strengthening the quality of our health care; ensuring the quality of the environment; building stronger communities; and advancing Canada's place in the world.
In the new global economy, knowledge and technological innovation are the cornerstones of a higher standard of living and a better quality of life. This government is committed to Canada's role as a global leader in high technology. This is very good news, especially for my constituency.
My riding of Nepean—Carleton is situated in the hub of Canada's fastest growing region of high technology firms, Silicon Valley North, as it has become known. This region is responsible for 75% of Canada's telecommunications research and development. It boasts almost 1,000 advanced technology companies that employ more than 48,000 people.
From rather humble beginnings with agencies like the National Research Council and the Communications Research Establishment to companies like Bell Northern and Computing Devices, small companies have grown into large companies. These companies in turn have spawned other companies featuring new products and new technology. This cycle continues to create jobs and prosperity and export dollars for Canada.
It is vital that the government remains committed to promoting Canada's role as a leader in new technologies. Month by month the government's policies aimed at growth in this sector of the economy continue to bear fruit.
Yesterday, Nortel Networks announced that it plans to invest $330 million in Canada to enhance its booming optical networking business, tripling overall production capacity by next year. Montreal and Ottawa are the greatest beneficiaries of this major capital infusion. New high tech facilities will be constructed in both cities with approximately 2,300 new jobs shared between the two. In total, Nortel expects to invest $210 million in Ottawa and an additional $120 million in Montreal.
Just last July, JDS Uniphase, which employs close to 2,400 workers in my riding, unveiled its new 500,000 square foot research facility in Nepean.
Both announcements and the scores of others we hear on a regular basis from this industry are indicative of the high level of confidence in Canada's high technology future and the future of the Ottawa area as Silicon Valley North. This is a clear sign that globally renowned companies on the cutting edge of the new information technologies recognize that Canada is indeed the place to be in the 21st century.
I will say a few words about the finance minister's fiscal update which he delivered yesterday. It is clearly a fundamental and integral component of the government's plans for the years ahead as expressed in the throne speech.
Profound congratulations are in order for the Minister of Finance. Yesterday he delivered an economic statement that can only be described as extraordinary. He has done an absolutely superb job. Together, the throne speech and the economic and fiscal update are a one-two punch for Canada that moves us into a class by ourselves. Together these two documents show tremendous leadership and vision by the Prime Minister and the Minister of Finance.
The Minister of Finance's economic statement is consistent with what the government has said all along, that the Canadian economy is very strong and our finances are very sound. Unemployment is at a decade-long low. Interest rates and inflation are both under control. The forecast of unprecedented budget surpluses over the next five years is staggering.
I applaud the finance minister's pledge to keep an open and transparent budget planning process. The more Canadians know about and have input into our economic situation, the better the government can work to the benefit of all Canadians.
I wish to express my unqualified support for the fact that the government is refusing to be complacent about fiscal responsibility. The openness and care with which the contingency reserve funds are to be handled and the commitment to never fund tax relief with borrowed dollars are vitally important. I am sure this is a great comfort to Canadians.
Let me talk about our future prosperity, the foundation for which has been laid by the Prime Minister, the Minister of Finance and the government.
First and most crucial, yesterday's economic and fiscal update made it abundantly clear that skills, knowledge and building a more innovative economy remain the critical investment priorities of this government. Beginning at the earliest stages of development right through to post-secondary education and beyond, the government's plan for the future displays a lifetime commitment to our children for their lifetime.
I speak of the extension of parental EI benefits, of the $7 billion national child benefit system, of the $1.2 billion Canadian opportunities strategy, and of the Canada education savings grant, as merely the beginning of the initiatives which the government will take on.
The investment in Canadian prosperity does not stop there. It is well acknowledged that the societies which will thrive over the next decade not just economically but in all aspects are those societies which excel at innovation. We must foster an economic environment which will make our brightest minds want to stay and innovate in Canada.
The proposed multi-year program for sustained and broad based tax relief is a fundamental component of our economic and fiscal plans. The underlying philosophy of the government's approach to tax cuts were conveyed in yesterday's economic statement.
I quote the Minister of Finance directly: “There are many reasons for reducing taxes. However, there is one I would like to mention because it is too frequently overlooked. It is quite simply that Canadians are entitled to keep more of the money they earn. After all, they worked for it. It is theirs”. Those are the words of our finance minister, a true tax cutter.
The reduction of employment insurance premiums for the sixth consecutive year will also put a further $1.2 billion into the pockets of Canadians. The determination of the government to make our business tax system internationally competitive will keep jobs, and of equal importance, brain power, innovation and excellence in Canada where they belong.
Let me take this opportunity to say a few words concerning how the throne speech relates to Canada's place in the world. There is absolutely no doubt in my mind that Canadians want their government to play an active, independent and internationalist role in the world.
What are our responsibilities as one of the most peaceful and prosperous countries on the face of the planet? There is an old saying that to whom much has been given much is expected. The world has the right to expect a lot from Canada through our involvement in the global community and we must not let it down.
We have made and continue to make significant contributions to peacekeeping and international development. With Canadian peacekeepers in Bosnia, Kosovo and East Timor, just to mention some of the more significant deployments, we have the largest contingent of Canadians abroad since the Korean war. With the recent announcements of more funds for international development assistance, combined with our peacekeeping, Canada is doing its share, but there is still much to do.
Our foreign minister's human security agenda which seeks to enhance the safety of civilians in armed conflicts is in my view one of the most important foreign policy initiatives to come out of this country in decades. While we have made progress on the land mines issue and the International Court of Justice, the challenges ahead are immense.
To sum up, this is a throne speech that exudes confidence in Canada, our economic and social future, as well as our privileged place in the family of nations. It is a throne speech that speaks to our achievements and looks ahead to the challenges and great opportunities that Canada faces in the 21st century.