—a downturn in the Fort McMurray area, the MP for Fort McMurray would be more than happy that we went ahead and passed this bill into law.
The Liberal Party believes that the federal government can significantly impact regional economic development. That is why in 2005 the Liberal government at the time invested over $800 million over five years in regional development agencies across the country.
What is interesting is that the Bloc Québécois was the only party that voted against Bill C-9 in 2005, which aimed to create the Economic Development Agency of Canada for the Regions of Quebec.
The Parliamentary Budget Officer, Mr. Kevin Page, has testified before the finance committee and assured us that the Canada Revenue Agency has the capability to implement these changes and administer them quite easily. The bill does not actually do much to promote significant job growth in the regions, but it is a beginning. So we should not lose sight of the fact that it could help to stop the bleeding in regions where jobs are available but are not being filled because of the regional geographic disadvantage.
Given that this government has no real strategy to promote the economic growth of the regions, this bill is a good option.
I believe that all members of this House should support it. Personally, I will support it.