Madam Speaker, I am very proud to have the opportunity today to rise on behalf of the citizens of Winnipeg South Centre and to speak to my colleagues about the government's economic action plan 2012.
As a chartered accountant, I am proud to be part of a government that represents sound fiscal planning, job creation and economic growth. As a mother, I am grateful for the government's direction on long-term prosperity. We have to take care of future generations. We need to be responsible and make sure that our children do not start their lives with their futures mortgaged. It matters that we are good stewards. It matters to our children's futures and well-being. It matters to our country's future and well-being.
I would like to speak of our government's support in economic action plan 2012 for research and development and commercialization because it also matters for the future.
The Minister of Finance regularly consults private-sector economists to find out what they think about the future of Canada's economy. The economic forecasts in our 2012 economic action plan are based on a survey carried out in early March of this year and take into account the viewpoints of 14 independent private-sector economists. The average of these independent private-sector economic forecasts has been used as the basis for financial planning since 1994, which gives our economic forecasts an independent dimension. This practice is endorsed by international organizations such as the International Monetary Fund.
In addition, since the 2012 economic action plan was tabled last month, Canada's leading economists have applauded its prudent outlook and Canada's solid economic performance.
For example, on March 29, economist Patricia Croft said of the budget's “ initiatives in the job front and addressing the demographic challenge.... In both regards I’d have to give the budget probably an ‘A’.... In a global context, I think Canada is in a fabulous position”.
Avery Shenfeld, Chief Economist, CIBC World Markets, said in The Toronto Star on March 30 that the budget “makes sense in a world economy that is still not what we would like it to be… Relative to what anybody else is doing, we still come out with flying colours”.
I mentioned that I am a chartered accountant. I would like to speak to comments made by the Canadian Institute of Chartered Accountants regarding the government's budget. The CICA is a professional body representing CAs in business, government and public practice. It even represents a member of Parliament. In its budget brief 2012, it said that the budget “positions Canada well for the future while providing prudent fiscal management”. These are the fiscal managers of Canada. It continued, “Budget measures being introduced are designed to serve the short-term while maintaining a vision that embraces the long-term.”
Given those glowing remarks, I am going to share with the House today some of the initiatives being taken by our government to support innovation and create a reputation for Canada as a world leader in cutting-edge research, development and commercialization.
The global economy is changing. Competition for the brightest minds is intensifying. The pace of technological change is creating new opportunities while making older business practices obsolete.
Canada’s long-term economic competitiveness in this emerging knowledge economy demands globally competitive businesses that innovate and create high-quality jobs.
As the Minister of Canadian Heritage and Official Languages just said, we have created over 700,000 jobs since the global crisis in 2009 and 90% of those are full-time positions.
Since 2006, the government has provided nearly $8 billion in new funding for initiatives to support science, technology and the growth of innovative firms. Despite strong policy fundamentals to support innovation in Canada, Canadian businesses do not take full advantage.
Canada continues to lag behind peer countries in terms of overall innovation performance, including private sector investment in research and development and the commercialization of research into products and processes that create high-value jobs and economic growth.
Following a comprehensive review of federal support for research and development by an expert panel led by Thomas Jenkins, the government is committed to a new approach to supporting innovation in Canada by pursuing active business-led initiatives that focus resources on better meeting private sector needs.
In economic action plan 2012, our government announced $1.1 billion over five years to directly support research and development and $500 million for venture capital.
These investments and actions keep our economy strong, create high-quality jobs and ensure that Canada is a premier destination for the world's brightest minds.
Economic action plan 2012 implements important measures that will make it possible to meet the challenges and to take advantage of the opportunities presented by the global economy, while maintaining sustainable social programs and sound public finances for future generations.
I engaged in significant pre-budget consultations within my community and I continue to consult widely to best serve my constituents. I recently had the honour of speaking with Mr. Kevin Dancey, the national president of the CICA. We discussed the budget. Of course, Mr. Dancey is very interested in serving his community of chartered accountants, and there were three areas that Mr. Dancey singled out and praised.
First, the new tax incentives for innovation, which I have already referenced.
Second, the significant reduction of red tape being undertaken by the government to assist small businesses in particular to create jobs and assist with continued economic growth.
Economic growth is truly necessary.
Finally, critical to Canada's accounting professions and to many other professions in Canada are the measures being taken by the government's commitment to support improvements to foreign credential recognition.
Economic action plan 2012 was developed with current and future Canadians in mind. It creates new opportunities for the brightest Canadians to create jobs through innovation and fosters long-term financial growth. Its prime focus is on job creation. The economic action plan focuses on economic growth and long-term prosperity. I am very happy to say that it recognizes the importance of support to science, technology and commercialization.
As the global economy changes, I am proud to see Canada remain proactive in preparation for a future of economic prosperity that will benefit our children.
To that end, I am so proud to be associated with a government that not only cares about the right now but cares enough about our future generations to make things possible. We do not just care about giving pensions to pensioners now; we care about making sure that our children and their children will also have those privileges.
I am proud to be associated with a government that is focused on creating jobs for Canadians and on ensuring we have une croissance économique extraordinaire et, franchement, le meilleur du monde and is focused on long-term prosperity.