Mr. Speaker, I will be sharing my time with the hon. member for Kitchener Centre. I appreciate the opportunity to participate in the debate on this motion.
We are in extraordinary times. We have not gone through a recessionary period like this one since the second world war. It is obvious that Canadians from coast to coast are feeling the effects of this recession. They are concerned about their jobs, their savings and about the impact on their families, their businesses, their homes and their communities.
Leading up to the budget we did consult Canadians. We launched the largest national consultation in Canadian history, leading to what many have described as the earliest budget in Canadian history. Canadians told us that we must do what it takes to keep our economy going and to do what we can to protect them during this extraordinary time.
That is why our government introduced Canada's economic action plan in January. This is the plan to protect Canadians during the global recession, to create new good jobs for the future and to equip people in our country for success in the years to come. It is designed to stimulate economic growth, restore confidence and support Canadians and their families during this global recession.
It takes action to build infrastructure, to stimulate housing construction and to support businesses and communities. It also reduces taxes, freezes EI rates, and helps Canadians through the Canada skills and transition strategy. It approves access to financing, certainly the one thing mentioned to me and many others in the finance committee by businesses across this country in terms of strengthening our financial system.
The preparation and the announcement of the budget gets us only halfway down the road to economic recovery. To get the rest of the way, we need to implement these measures. We are not the only ones who think so. In a recent report, the International Monetary Fund called our economic action plan “large, timely and well targeted” and said our immediate focus should be on implementing the budget to mobilize spending. We need to get the money into the hands of Canadian individuals, families, communities and businesses.
To assist the hon. member who introduced this motion in understanding why this House needs to pass the main estimates as quickly as possible, I would like to explain the budget implementation process.
The implementation of budget spending measures typically requires two types of approval. The first is what is called policy approval and refers to the requirement that certain measures be approved by the appropriate cabinet policy committee and Treasury Board. That is why we are streamlining the review and approval of policies and programs while ensuring appropriate controls. This means, for example, using simplified or omnibus Treasury Board submissions for straightforward extensions or top-ups. The second type of approval is parliamentary authority over appropriations.
Typically, the earliest opportunity for budget measures to receive such funding is through the supplementary estimates (A), which Parliament votes on in June. However, if we are to help Canadian families, communities and businesses weather the current economic storm, we need to deliver stimulus funding as rapidly as possible. That is why we introduced the recently passed Budget Implementation Act, to make payments totalling $7.6 billion. These payments will be used to fund large priority initiatives as specifically identified in the Budget Implementation Act. This act includes statutory authority for ministers to spend money on these initiatives directly from the consolidated revenue fund. I would refer members to the budget document to see exactly what the government will be spending on.
We have also created a special time-limited budget implementation vote in the main estimates. With Parliament's approval of the main estimates, this vote will give departments money to spend on key budget initiatives as early as April 1. This vote will only be available between April 1 and June 30, until supplementary estimates (A) are in place. This vote is limited to $3 billion and will be used to provide initial funding for ready-to-go projects and initiatives identified in our economic action plan. This funding will get the ball rolling until departments and agencies can receive funding through future supplementary estimates following the normal supply process.
The allocation of funds from this vote must be approved by Treasury Board. Members opposite say they are concerned about accountability, and it is appropriate to raise accountability. In fact our government, certainly in the past session with the introduction of the Federal Accountability Act, through this measure is being accountable to Parliament and to Canadians.
All moneys distributed under this time-limited vote will be reported in upcoming supplementary estimates, as well as through regular reporting to Parliament. Parliamentarians will be able to review all of this.
The government will be tabling regular whole of government reports on the status of economic action plan initiatives. The first of these was recently tabled by the Minister of Finance. Tomorrow at the finance committee the Parliamentary Budget Officer will comment on the first of these tabled documents.
Furthermore, a committee of deputy ministers and chief financial officers is providing departmental oversight. Finally, the Auditor General will audit the spending.
We believe it is absolutely critical to strike the right balance between appropriate due diligence and transparency and rapid delivery of stimulus measures. I would like to emphasize that point. These extraordinary times require fast action. That is why we are moving so quickly with the economic action plan, but at the same time, with these measures we are ensuring that we will be accountable to Canadians and to Parliament. That is an important point we must emphasize.
It is obvious that Canadians who unfortunately are losing their jobs are looking for action in terms of employment insurance. Canadians in terms of small businesses are looking for action with respect to access to credit and financing that was in the budget. Canadians in terms of small businesses are looking forward to the tax reductions we have put in place. Canadians at the lower end of the income scale are looking forward to the tax reduction measures we have put in place.
The businesses, families and Canadians across this country are looking for action from the government. They have demanded action. We have acted in terms of our budget which was adopted by Parliament before the break. Therefore, it is incumbent upon us to act upon that action plan and get the money flowing out the door to the families, the individuals and the Canadians who need it.
I am asking members of the House to therefore oppose this motion and to support the government's action plan, not only in terms of its passage, but in terms of its full implementation, so that Canadians can truly see the benefit of that action plan.