Mr. Speaker, in today's knowledge based economy, a more educated and skilled labour force is key to Canada's competitiveness in the world. Government investments in education and training are critical to productivity and economic growth.
As announced in budget 2006, our government has taken action in support of a more skilled and educated workforce by including measures for students, apprentices and tradespeople.
Measures for students include: a new $500 tax credit to help about 1.9 million post-secondary students with their textbook costs; making all scholarship, fellowship and bursary income received by post-secondary students exempt from income tax; and expanding the eligibility for student loans to more students from middle income families.
Measures for apprentices include: a new tax credit of up to $2,000 per year for employers who hire and train apprentices to help them cope with the difficulties they face in finding skilled tradespeople; and apprentices themselves will be eligible for $1,000 grants as of January 1, 2007 as part of the new apprenticeship incentive program.
Measures for tradespeople include: a new tools tax deduction of up to 500 for tradespeople for the cost of tools in excess of $1,000 that they must acquire as a condition of their employment; and, in addition, we are increasing the limit to $500 on the cost of tools eligible for the 100% capital cost allowance.
In order to help provinces and territories provide high quality post-secondary education, the government is also providing a one time payment of $1 billion through the post-education infrastructure fund to support critical and urgent investments in innovation, accessibility and infrastructure. Moreover, this government is making progress on its commitment to restoring fiscal balance which has a post-secondary education component.
Notably, over the past several months the Government of Canada has been consulting with provinces and territories, stakeholders and citizens. The Government of Canada is committed to hear from as many individual Canadians and stakeholder organizations as possible that share an interest or role in post-secondary education and training.
We sought input from a range of Canadians, including businesses, employers, educators, training organizations, students, parents, academics and experts. Also, over 100 national stakeholders were contacted to share their views. They were encouraged to forward the invitation to their regional and provincial member organizations as well.
The government is continuing its consultations with provinces and territories which, along with Canadians' views, will help inform the proposal for post-secondary education and training that will be brought forward as part of the Government of Canada's overall proposals to restore fiscal balance in Canada.
Clearly, Canada's economic prosperity and social well-being is dependent on our ability to nurture a highly educated and skilled workforce. Governments must work together to ensure that our country's post-secondary education and training system remains of high quality and responsive to national and provincial economic and social needs.
Finally, post-secondary students need to be supported for their hard work in pursuit of academic excellence and this government is committed to this goal.