Mr. Speaker, I welcome the opportunity to speak in favour of the jobs and growth act, 2012, which implements key elements of economic action plan 2012.
When we introduced the plan back in March, we highlighted its importance in taking decisive action to ensure our economy would create good jobs and sustain a higher quality of life for our children and grandchildren, including measures to help the environment.
When it comes to the environment, Albertans care deeply about the natural beauty of our province and about protecting it for future generations. When my family and friends come to visit, I love to show them the beauty of Kananaskis, Banff and Jasper. However, the concerns of Albertans with respect to the environment can be seen in many other ways besides our pride in our national parks.
For example, more and more Albertans are looking into thermal heating solutions. I paid extra to install the technology in my new home. As Albertans, we are not afraid to put our money where our mouth is. However, the key factor is balance. That is exactly how I would describe the measures contained in this bill.
In my remarks today I will focus on elements of today's legislation that expand the eligibility for the accelerated capital cost allowance for clean, green energy generation. Not only would this measure help protect Canada's natural environment; it would support our government's top priority, that being jobs and growth.
Before I speak to that in greater detail, I will speak to the larger economic action plan 2012.
This is a low-tax plan that will build on the strong economic foundations we have built since forming government in 2006. It is a plan that has ensured and will continue to ensure that we avoid the problems facing other countries.
Creating jobs and long-term economic growth is key to our success, not to mention that it is the reason we first introduced Canada's economic action plan. Central to our strategy is our government's low-tax plan for jobs and growth, a policy that has made Canada one of the best places in the world to invest. Not only that, but our economy has created more than 800,000 net new jobs since July 2009, of which 90% are full time.
What is more, all of the major credit rating agencies, such as Moody's, Fitch and Standard and Poor's, have renewed Canada's AAA credit rating.
The plan includes a bold tax reduction plan that has branded Canada as a low-tax jurisdiction for businesses to invest—and the best place to do business, according to Forbes magazine.
Indeed, we are making it easier for Canadian businesses to successfully compete in the global economy and more attractive for others to invest in this country, with the end goal being more and better jobs for Canadians and a healthy, thriving economy.
We must now stay the course with our low-tax plan to protect the economy and create jobs, a plan that has made Canada the envy of the world.
In the words of German Chancellor Angela Merkel:
Canada's path of great budgetary discipline and a very heavy emphasis on growth and overcoming the crisis, not living on borrowed money, can be an example for the way in which problems on the other side of the Atlantic can be addressed. This is also the right solution for Europe.
Nevertheless we know that, when looking to the future, it is important to find a balance between economic and environmental priorities.
Canada is an energy superpower, with one of the world's largest resource endowments of both traditional and emerging sources of energy. More and more, the rest of the world looks to Canada as a secure and dependable supplier of a wide range of energy products.
Since 2006, our government has taken significant steps to establish our country as a global clean energy leader, including through regulatory actions, investments in technology and innovation, and broad-based incentives.
This past March, acting on the advice of the witnesses who appeared before the House of Commons finance committee's prebudget consultations and on the advice of the committee report, which recommended that “the federal government continue to use tax incentives to promote the development and use of renewable energy”, economic action plan 2012 proposed to support these sectors through the tax system by expanding eligibility for the CCA, accelerated capital cost allowance, for clean energy generation equipment.
For the purpose of today's bill, let me quickly describe for Parliament and for Canadians watching at home the technical details behind the accelerated CCA for clean energy generation contained in part 1 of the bill.
The existing measure applies to a broad range of specified equipment that generates or conserves energy by using a renewable energy source, using fuels from waste or making efficient use of fossil fuels.
Through today's legislation, our Conservative government proposes to expand this incentive. Currently, waste-fuelled thermal energy equipment produces heat using waste sources.
Today's legislation proposes to expand the eligibility of the accelerated CCA for clean energy generation equipment to allow waste-fuelled thermal energy equipment to be used in a broad range of applications, including space and water heating. For example, wood waste could be used as an alternative to heating oil for space and water heating in a shopping centre.
District energy systems transfer thermal energy between a central generation plant and a group or district of buildings by circulating steam, hot water or cold water through a system of underground pipes.
We propose to expand the accelerated CCA for clean energy generation equipment by adding equipment that is part of a district energy system that distributes thermal energy primarily generated by waste-fuelled thermal energy equipment.
For example, in a remote community, a district energy system that uses heat generated by waste-fuelled thermal energy equipment could provide an alternative to equipment that uses only fossil fuels.
And finally, today's legislation proposes to add the residue of plants to the list of eligible waste fuels so that it can be used in waste-fuelled thermal energy equipment.
The residue of plants, such as straw, corn cobs, leaves and similar organic waste produced by the agricultural sector, can be used in a number of ways, including the production of heat, electricity, biofuels and other bio-products.
Our government believes that investments in our energy future will be essential to realizing economic opportunities, creating employment and enhancing the Canadian advantage.
It is through measures like expanding the accelerated capital cost allowance for clean energy equipment that we will balance environmental protection and economic growth.
Economic action plan 2012 recognized, for example, that to effectively compete and succeed globally we need to maximize the value that Canada draws from its natural resources, while protecting the environment at the same time.
I am proud that the measures contained in today's bill will help further unleash the potential of Canadian businesses and entrepreneurs to innovate and thrive in the modern economy, to the benefit of all Canadians for generations to come.
In doing so, our Conservative government will reinforce Canada's comparative advantages and ensure the sustainability of public finances and social programs for future generations.
I would therefore encourage all members to support this bill and economic action plan 2012, to support Canada's economy, and to cast their vote for jobs, growth and long-term prosperity.