Mr. Speaker, I am glad the member opposite was able to adjust his question to deal with the situation as it presently exists because, as he mentioned, his question was asked back in May.
I wish I had a little more time than I do tonight to fully explore and speak to the issues he has raised. I appreciate the opportunity to explain to the member opposite and Canadians how this government is helping workers, communities and the industry from coast to coast during this global recession.
We particularly recognize the unique hardships that forest workers, communities and firms right across Canada are experiencing. The Government of Canada is responding to these challenges and we are committing to providing support for these communities and workers.
Let me remind the member that our government, which includes the Standing Committee on Natural Resources, has met extensively with forest leaders across the country. One of the things we were told was that access to credit was a key priority for them. Our government has listened to them and we have taken immediate action in our stimulus package to provide credit and to address the credit issue.
Our economic action plan created a new extraordinary financing framework, providing up to $200 billion to improve access to financing for Canadian businesses, which certainly includes the forest industry.
Budget 2009 also provided Export Development Canada with more financial flexibility to support businesses during the current economic downturn. EDC has working relationships with 90% of the Canadian forest industry and has new flexibility to work with firms in the forest sector and across the economy to address those financing gaps.
In 2008 EDC provided $13 billion in export insurance, $800 million in financing and $200 million in bonding. Those initiatives totalled $14 billion in financing for the forest sector, including financial assistance to 534 different forest companies. At least $5 billion in new financing is to be delivered under the new business credit availability program. That includes another $50 billion in additional insured mortgage pools.
More specific, our action plan provides $8.3 billion to assist Canadian workers through strengthened EI benefits and enhanced availability of training. That certainly would apply in the situation the member opposite has described. The training programs in place will work for his workers.
Our economic action plan also allocates $1 billion over two years for a community adjustment fund to help mitigate the short-term impacts of economic restructuring in communities. That builds on the $1 billion that our government provided for a community development trust just last year.
Our economic action plan has a long-term vision that includes the expansion of markets, which is critically important to the forestry sector both in North America and overseas. We have allocated $50 million to various programs to achieve this vision. By harnessing the potential of new markets and technologies, our industry is reinventing itself and preparing for a competitive comeback that will reinforce and sustain its international reputation as a leader in the world's forest industry.
We are working closely with industry to develop our wood construction market. We are working with it to raise the profile of Canadian wood products. We are encouraging value-added manufacturing, promoting the transfer of technology from labs and research facilities right onto the floors of industry.
It is clear that the future health of Canada's forest sector will depend on innovation and on industrial and entrepreneurial creativity and we are supplying support for that.