Mr. Speaker, just before question period I was speaking on our most excellent budget. Allow me to summarize only some of its key elements.
First, there were $7 billion in tax savings.
Second, having been married 21 years and being the father of five children, let me speak of our support for families. There is a $2,000 child tax credit for each child under the age of 18. Ninety per cent of Canadian families will benefit from this tax credit and 180,000 taxpayers will be removed from the tax rolls as a result of this measure. In addition, there is a working income tax benefit of up to $1,000 per family to help low income working families.
Third, we have eliminated the $4,000 limit on annual contributions to registered education savings plans. We have provided $6 million a year to combat the sexual exploitation of children and human trafficking.
Having personally served in the Canadian military for 20 years, I am pleased to reiterate that there are $3.1 billion for national defence over the next three years. There are $60 million for operational allowances for our brave men and women serving in operational theatres overseas.
We are appointing a veterans' ombudsman. We are providing $19 million in 2007-08 and $20 million a year after that to improve services to veterans. Not only do we salute our men and women in uniform, but we stand by them and are taking action.
As the MP of a rural riding representing farmers, there are $1 billion in new funding for farmers, $400 million paid directly to producers to help with the high cost of production and $600 million in federal funding to kick-start new producer savings accounts. We are increasing the lifetime capital gains exemption to $750,000 from $500,000, therefore increasing the rewards of investing in farming. This is the first time it has been increased since 1998.
As the Minister of Finance correctly stated, Canada's farmers do not just feed our country, they feed the world. It is time we provided the kind of support that these decent, hard-working people of integrity deserve. We have heard from our farmers and listened to them, but most important we have acted.
We are a government of action and our budget is a budget of action. There are two words that best describe our budget: it delivers. Canadians could not be happier. Finally, they have a government that is acting for them. That is our Canada. Voilà notre Canada.