Mr. Speaker, I am pleased to speak on behalf of the government to this private member's bill.
I thank the member for Halifax West for bringing forward this important topic for discussion. I also congratulate the member opposite whose daughter is now going to Acadia University. Acadia is an excellent university; however, if he is looking for second options I would suggest the University of Alberta is a top university in this country.
The bill seeks to amend the Canada Student Financial Assistance Act in order to extend the provisions of the Canada access grants. This bill raises two important questions. The first is whether or not this is the appropriate time to be making changes to this relatively new student support measure. The second is whether or not amending the act is the right way to proceed. Let me address each of these in turn.
On the question of extending the financial support now provided by the Canada access grants, the member opposite has identified a concern which Canada's new government definitely shares. We want to make sure students from low income families and students with disabilities have access to post-secondary education and can receive the financial support that they need.
Indeed, this government wants to look at the whole issue of how post-secondary education is financed in this country. The Minister of Human Resources and Social Development has indicated that she will be initiating discussions with the provinces and territories to discuss the overall objectives for post-secondary education and training appropriate roles, while at the same time working toward developing a framework for ensuring measurable results and accountability in respect of funding support. Issues like those raised in Bill C-284 may very well be considered during the course of those discussions.
Expanding access to post-secondary education to students from low income families and those with disabilities is a concern Canada's new government recognizes and is sensitive to. However, it is important to keep in mind that the Canada access grant is not the only way the Government of Canada helps finance post-secondary education in this country.
A brief overview of the current measures in place clearly demonstrates the Government of Canada has a broad commitment to investment in education and training on behalf of all students. Budget 2006 is a demonstration of this commitment as it included concrete measures in support of post-secondary education.
Having the lowest debt to GDP level in 24 years is bound to help all aspects of our economy, including children looking to obtain post-secondary education, but this government did far more. There are investments such as $15.5 billion annually to the provinces and territories for post-secondary education and social services through the Canada social transfer; $1.7 billion to fund research in post-secondary institutions; $1.8 billion in loans and grants for post-secondary education; $1.5 billion in tax credits and education savings incentives; and another $1 billion in federal funds to help provinces and territories make urgent investments in post-secondary infrastructure.
Additionally, we also introduced a new textbook tax credit, a measure expected to benefit millions of students over the next two years. We expanded eligibility for the Canada student loans program, meaning an additional 30,000 students will now be able to access this program. That is right, I said an additional 30,000 students.
Clearly, when it comes to supporting post-secondary education and helping Canadian students and their families with its costs, Canada's new government has demonstrated its willingness to make the necessary--