Mr. Speaker, I will be splitting my time with the hon. member for Ajax—Pickering.
Hon. colleagues, as I stand in this House to speak to the budget presented this past week by the Minister of Finance, I cannot help but think that we could have been having this debate two months ago.
While it may be somewhat discouraging that the government would only feel motivated to act in response to a threat of its own political survival and not out of courage or concern for the millions of Canadian families, workers and business people who need assistance, at least we are now seeing some action from the government.
This situation is certainly challenging and of great concern.
Since the summer, we have watched as stock markets here at home and around the world literally lost millions of dollars in value right before our own eyes. This, of course, affects not only the companies and their employees, but also millions of people, including older Canadians who have invested in these institutions. Many Canadians look to these investments to see them through their retirement years.
In the manufacturing sector, we have seen for some time now the loss of jobs at levels not witnessed in decades. I have repeatedly joined with labour leaders and other members of the House for over two years now in calling for action to protect manufacturing jobs in this country.
Retailers across Canada are now facing unprecedented challenges just to survive and many have already cut jobs in the wake of falling sales.
We are all aware of the significant and ongoing pressures facing the automotive sector. The Canadian Auto Workers union has for several years now been warning about the dire situation in one of the largest economic engines of our economy, automobile manufacturing.
In addition to the challenges here in Canada, we are clearly affected by the circumstances confronting our neighbour to the south, the United States.
I am pleased to congratulate President Barack Obama as he begins his term leading our largest trading partner.
We in Canada do not live in a vacuum and situations south of the border impact us very directly as we conduct 80% of our trade with the United States. It is an inescapable reality that policies of the former administration contributed to the economic woes facing the U.S. and the world. The trigger to the current economic dire straits was, of course, the United States' housing market and the lack of regulations and control with respect to lending.
If there is any bright spot in terms of the financial services sectors, it is that in our country the prudent management of the previous Liberal government spared us from some of the seismic collapse we have witnessed in the U.S. and other western countries.
Despite pressures to the contrary, the government of former Prime Ministers Jean Chrétien and Paul Martin understood the need to ensure that our banking system required stringent regulatory control. It is easy to forget now the calls for bank mergers and relaxed lending regulations that the then Liberal government refused to accede to and it is also true that we are fortunate that leaders like Jean Chrétien and Paul Martin possessed such foresight and political courage.
As financial institutions around the world, in particular in the U.S., teeter on the precipice of survival, Canada's financial system, while under stress, is essentially sound.
In the weeks leading up to the return of this Parliament, the government continuously disseminated information on the content of its budget. The creation of a deficit was first among the so-called leaks. Then we saw announcements of forthcoming infrastructure spending, employment support programs, assistance to struggling industries and a variety of other initiatives. In short, those were many of the things that we in the official opposition were calling for since the beginning of the economic downturn.
In that regard, there are measures within the budget that our leader, the member for Etobicoke—Lakeshore, our caucus and me personally find we must support at this time. Canadians simply cannot wait any longer for this support and certainly not for purely political reasons.
I must say it is distressing to hear the leader of the New Democratic Party speaking of a new coalition. I would ask him to put aside his own ambition and recognize that there is really one coalition that matters, the one between the people of Canada and those they have chosen to work on their behalf. Canadians need help, not more political games. When the opposition parties formed the coalition in November, it was about more than politics. It was about holding an irresponsible government to account for its own highly political rhetoric.
The Leader of the Opposition has shown courage and put the needs of Canadians first by announcing support for the budget. He has also shown great leadership in tempering that support with the amendment that was passed last night, an amendment that will ensure real and meaningful help is delivered to Canadians.
We simply must have economic stimulus. One of the most effective ways to deliver this kind of financial assistance is through infrastructure renewal. The budget does contain significant commitments in this regard, if indeed these funds flow in a manner that will see road construction, bridge construction and so forth. These projects are too important to come with strings attached.
The Conservative government cannot create infrastructure opportunities through the building Canada fund and then let the opportunities fall by the wayside when cities cannot afford to contribute one-third of the expenses. Toronto mayor David Miller has already made it clear that Toronto does not have the cash for the revitalization of Union Station, which the Minister of Finance referred to as a “crucial commuter hub”. The Conservatives must ensure that infrastructure funds are accessible to all and are not merely political window dressing.
The Liberal amendment is, as noted, designed to do this.
Likewise, the commitments to affordable housing are important. I would remind many in the House that it was the previous Liberal government's finance minister, the member for Wascana, who had made commitments in this area for the first time in decades. Nonetheless, this budget contains provisions for affordable housing. This is a significant improvement and an important one.
We are also encouraged by the support for low income earners through the expansion of the child tax benefits and the working income tax benefit. These also are long overdue.
The financial commitments aimed toward our educational institutions are very much needed. I am supportive of these provisions as they will deliver long-needed assistance to these institutions.
If we are to recover economically, then we need a stimulus that will create jobs, restore confidence and assist Canadians in meeting the unique challenges of this time. The so-called spin-off effect from economic stimulus ranges from the purchase of building supplies to spending undertaken by those working in the construction sector.
There are things to find encouraging in this budget. The government has included some of what we have been calling for over the past two years. Regardless of who gets the credit, it is important that we just move forward in assisting Canadians and the Canadian economy.
I would like to take a moment to point out some areas that I believe have not been addressed and which require attention.
Senior citizens in my riding and across the country are facing very difficult times. Living on fixed incomes they must contend with a multitude of challenges. For example, in my city of Toronto many older residents are facing increased property taxes at a time when they can least afford it.
While recognizing property taxes are municipal and provincial issues, the reality is that older Canadians on fixed incomes are contending with these increased costs. There is much we can do at the federal level to assist them. This can be achieved in the form of increased support through the tax system or through the guaranteed income supplement. Regardless of how it is done, we must assist those who have contributed to building our country and who now need our help.
The previous Liberal government was moving forward to meet many of the long-term challenges facing Canadians. Sustainable and stable funding was flowing to working Canadian families, our cities, our important manufacturing sectors, and the list goes on.
We also need to improve the employment insurance system to make it fairer and more responsive, create a real national child care system and deliver on employment equity to name but a few areas. While the budget contains many important items, we need to move forward in the direction we were heading under the previous Liberal government.
Now is the time when we need full cooperation between all levels of government, new and invigorated relations between various parties and a progressive approach to leading the country. The current economic realities require immediate and short-term support.
I would remind members of the words of the writer James Freeman Clarke who stated, “The difference between a politician and a statesman is: a politician thinks of the next election and a statesman thinks of the next generation.”
As we conclude debate on the budget, we need to work together and put aside partisan actions like those we witnessed last November from the government. We need to move forward with this budget.