Mr. Speaker, I would like to set the facts straight for the hon. member. We all realize we have this competitiveness issue in Canada right now because of the exchange rate. There is no question that the weak U.S. dollar has driven currencies, not only in Canada but currencies around the world, up. This makes all of us less competitive against U.S. businesses. We have to realize that fact. Measures have definitely been taken by the Bank of Canada to reduce rates in the hope of balancing off the pressure of the rising and escalating dollar. This volatility hurts everyone in Canada who is manufacturing and exporting products. Therefore, we have to be serious about what is happening.
Our government has taken serious steps forward and has provided over $9 billion in support.
We have provided the $1 billion to assist one industry towns through the community trust. This will help communities look at new ways to be innovative and to ensure their local economies thrive. I represent a rural area and I know many communities in my riding will embrace this.
We have provided $8 billion in tax relief. This tax relief really helps the competitiveness issues that we face.
We have provided $1.3 billion for the accelerated capital gain write-off. This will help businesses acquire new equipment. We renewed that in the last budget, and we know it will help people retool and become more competitive. We have already seen that happen in the meat industry in Manitoba. Packers have gone out and bought new technology, very expensive robotics, and this has really helped them.
The $2.5 billion in corporate tax reductions have now brought us down to the lowest level—