Madam Speaker, as it is my first opportunity to talk about the budget, I am pleased to rise to speak not just on the amendments that have been presented but to attempt to capture the budget's themes and relate them to the residents in my constituency of York South—Weston. Hopefully, members will find that there are some similarities with respect to issues across the country because that is why we are here. We are here to extract the best from the provided legislation, the budget in this case, and to criticize the shortcomings.
For those who are watching, this is Bill C-10, the budget implementation bill. There are hundreds of amendments that have been moved to varying degrees, exercising the will of the opposition to impress on the government those shortcomings. The shortcomings in the areas of pay equity and employment insurance have been discussed and commented on much better than I could. I am going to let it rest on the record that the government has been listening. It has listened from the very beginning, when the opposition indicated in the budget overview that there was no response to the kinds of issues that Canadians across this country could see on the horizon.
I would like to talk about 10 areas as briefly as I can. First, I think that it behooves us to talk about the manufacturing sector. There is probably no area in the country that has been harder hit than Southern Ontario. We were told years in advance that there was a crisis brewing within the manufacturing sector in Ontario. I do not need to dwell on this, but a huge amount of the disposable part of the gross domestic product comes from Ontario and that goes toward equalization. We have just been informed that the GDP is dropping very rapidly, notwithstanding the situation in Ontario. If there is a gap between the growth and the GDP, that impacts on our regional ability to contribute to equalization.
That was a case that was made. None of us come to the House with clean hands. That is an issue that was not addressed. My hope is that out of this discussion, the issue with respect to equalization and its impact on Ontario is placed under the microscope of concern. However, the creation of a regional authority providing $1 billion for a community adjustment fund that will look at manufacturing, particularly in Southern Ontario, and attempt to stabilize, reinvest in and revitalize the sector is a step in the right direction.
Small businesses are reeling in my constituency, especially those related to the automotive sector. Those that are not employed by the Big Three but are peripheral to the automotive sector, involved in various used parts and creating new parts for the industry, are being hurt very much. I am encouraged that, with more funds being allocated through the Canada Small Business Financing Program and the Business Development Bank, some of my constituents and the small businesses in the area I represent will find that there is hope in this budget. The sooner we can ignite that hope and bring it from the declaratory stage to the implementation stage the better.
When we talk about a more sustainable environment, we cannot help but look at the transformation that is occurring with respect to industry. We have talked about green jobs and green technology. There is no question that there is capacity built into the budget to develop integrated technologies across this country.
The natural resources committee is looking into this with ongoing hearings. We must begin bit by bit contributing to a more integrated and technologically transformative and green economy, certainly producing climate change results that will excite Canadians and that will begin to be part of this global transformation that is taking place.
I would like to think that in York South—Weston, for example, in the Kodak plant that is no longer in existence, that 60 acres would find an incubating taking place that would see high value added activity on that site, and that it would contribute to the city of Toronto's green plan and to green plans similar to it right across the country.
There is no question that local and community investments in cultural, sports and community centres are part of the budget. In York South—Weston the boards of education have been reeling, along with the city, in trying to continue to rehabilitate their recreational facilities. It is the proverbial caucus race. They are investing but they are falling further and further behind. We now have an opportunity, through cooperation with cities like Toronto and cities and communities across the country, to make a substantive change in retrofitting those buildings and bringing them up-to-date. The legacy from that will be that future generations will benefit.
Investments in federal infrastructure projects through the federal infrastructure programs are high on the list for municipalities but this is where I have one criticism. It relates to the one-third, one-third, one-third that has been discussed. Many municipalities are going through a credit crisis in looking at their fiscally sustainable future and possibly not being able to participate in the programs that have been etched out as partnership programs. The suggestion we would put forward in this regard is that we do have the mechanism, for example, of the commitment of the federal gas tax and the ability to front-end load that by using it and taking hopefully the revenues that might come from it and reinvesting them back in as a revolving form of financing into infrastructure programs that are going to stimulate the economy. There is absolutely no question about that.
The government has to listen to the critiques that are being made of these programs and in the mechanism that has been suggested by the opposition where there are quarterly reviews coming forward. If that part of the stimulus program is not working, then there has to be a recalibrating of that mechanism, so that we can extract the highest value in the shortest amount of time from our partners at the municipal level.
Regarding the whole matter of investments in housing in my area, there are many social housing units. It is a very high needs area and this budget makes it very clear that investment in housing, social housing in particular, and the rehabilitation of old housing stock, is a high priority.
Finally, I would like to talk about students and an aging workforce and what the budget provides, but I want to finish with two issues that are really time-fused issues. That is the issue of private pension plans and the issue with respect to deposit insurance with respect to our banking institutions and so on. These are two areas that the government must take under greater scrutiny because the whole issue of private pensions and deposits will become more and more an issue as the actuarial differences between existing investments and their ability to cover both deposits and pensions is strained to the limit.