Madam Speaker, I thank the member opposite for his comments from last month on this particular issue.
This is about protecting Canadians' jobs. Indeed, I would suggest that the member is reading selectively. I know he is an extremely hard-working member. He works very hard for his constituents and he knows the file, but I would suggest that this is about protecting Canadians' jobs.
In budget 2009, Canada's finance minister delivered an economic action plan that will support Canadians, stimulate the economy and create jobs.
I direct my colleague specifically to page 142 of the budget, where in no uncertain terms it is stated that our government will be delivering an additional $12 billion in urgent infrastructure stimulus in communities from coast to coast all around this country, including Quebec and his own riding.
Our investments will create jobs, hope and opportunity at a time when Canada needs it most because of the economic downturn that the world is facing at this stage.
Over the next two years, the government will provide a $4 billion infrastructure stimulus fund, $2 billion to accelerate construction at Canadian colleges and universities, $1 billion to create a new green infrastructure fund and $500 million to support the construction of new community recreation facilities and make upgrades to existing facilities. These are things Canadians have been asking for, things that will improve Canadians' quality of life. That is what the government will do.
We will also be accelerating existing provincial and territorial based funding. We will be sending more money to them more quickly, providing millions of dollars to every province and territory quickly.
I direct the member opposite to page 143 of the same budget, which lists priority projects that have been identified by the federal government in consultation with our provincial partners, such as Quebec and other provinces, including Ontario, Alberta, and Saskatchewan, right across this great country, including the territories and municipalities. This includes upgrades to water and sewer systems across the province of Quebec, my hon. colleague's home province.
These are among the great measures of budget 2009, and they will help Canada emerge from this economic slowdown faster than any other country and stronger than ever before.
The member has voiced his concern in relation to the change from 25% to 49% and the increase in the limit on foreign ownership in Canadian airlines. This increase is necessary because it is all about the economic viability of the airlines and providing them with access to more capital from other countries while ensuring that these jobs remain in Canadian hands and the companies themselves remain in Canadian hands and Canadian control. The Canada Transportation Act, with which the member is familiar, will continue to ensure this as it is laid out.
This increase would also help Canadian carriers to attract more investment and capital and potentially allow them to lower their financing and operational costs. That is what it is all about: remaining competitive in a competitive environment, especially during these hard economic times. This will help Canadian airlines prosper and become very competitive economically across the world.
Raising foreign ownership limits to 49% would place the Canadian airline industry on a par with some of its international trading partners, such as the European Union and Australia. This approach is consistent with Canada's international trade obligations, and it is certainly in the best interest of Canadians.