Mr. Speaker, I am pleased to rise today to talk about how economic action plan 2012, our plan for jobs, growth and long-term prosperity, is benefiting Canada and, in particular, my area of southwestern Ontario. Southern Ontario is a region that was hard hit by the global recession. That is why our government responded with targeted action to develop and attract the high-paying, high-skilled jobs of tomorrow.
Our budget continues that good work and, in my riding of Brant, is moving in the right direction. In fact, budget 2012 is bursting with good news for southwestern Ontario and our economy, as the region continues to reposition itself for growth in the 21st century global economy. In particular, our budget will benefit many businesses in Brant, and in particular, manufacturers.
In our community, manufacturing has a very storied history. In fact, Brantford, at the turn of the century in the industrial revolution, was the third largest economy in this country, only behind Toronto and Montreal. Through the years, that manufacturing has evolved and changed. Some of it has gone to other jurisdictions. Some of it has become not relevant in today's economy.
Our community has survived through the years, and it is through the approaches of this particular action plan, this budget, that we will continue to look to companies to invest, to upgrade, to cut costs and enhance productivity, to increase their market share and to give them a competitive edge. These manufacturers know this is the goal of our government. It is to support them to create the jobs of tomorrow.
We have provided unprecedented support. We have lowered business taxes to 15% to help manufacturers keep more of their own money and invest and hire more employees. We are making Canada the first major economy to be a tariff-free zone for manufacturing to boost new investment and job creation. We have introduced temporary accelerated capital cost allowance tax relief to manufacturers to become more competitive when upgrading their machinery and equipment, and we are extending that tax relief in our 2012 action plan. We are also extending the domestic powers of Export Development Canada to provide financing support to Canadian manufacturers and exporters.
However, our government is not just investing so that manufacturers can create jobs today. Through unprecedented support for research, development and innovation, our government is ensuring that our region can create and retain the jobs of tomorrow.
We know the global economy is changing, and the pace of technological change is creating new opportunities every day. We also know that competition for the brightest minds is intensifying. To secure our long-term competitiveness, southern Ontario must lead in the knowledge economy, and we must foster global competitive businesses that innovate and create high-quality jobs.
Our government realizes this reality. That is why we have already provided almost $8 billion in new funding to support science, technology and the growth of innovative firms. That is why we continue to invest.
Budget 2012 provides another $1.1 billion in direct support for research, development and innovation. This funding builds on our government's technology strategy, which emphasizes the importance of ensuring that federally supported research contributes to the commercialization of new products, processes and services. Also, this funding acts upon key recommendations of the Jenkins report, by investing to make it easier for entrepreneurs to access venture capital.
It is all about supporting Canadian innovation from the idea phase to commercialization and distribution. Our commitment to research and innovation will benefit our students, families and businesses for years to come. Our commitment in this regard has not gone unnoticed. Here is what Stephen Toope, chairman of the Association of Universities and Colleges of Canada's board of directors had to say:
In the face of tough fiscal choices, the government showed leadership by continuing its investments in research, innovation, research infrastructure and university-private sector collaborations.... These investments will build a stronger future for our society and economy.
AUCC president Paul Davidson went on to note that, “We're also pleased the budget recognizes the importance of deepening international education and research linkages”.
Recently, I had the privilege of joining the AUCC on a mission to Brazil. While there, it was announced by the Brazilian president that 12,000 Brazilian students would be fully funded to study in Canada. This is a superb example of how our government is moving forward to have the best minds, the best students, graduating from our institutions on an international basis, so that we can collaborate with our international partners in making sure we can compete in the global economy. Many of these individuals who will receive these scholarships will end up having connections to businesses; they will have experience in apprenticeships with Canadian companies; and they will have the ties to create the linkages to businesses of the future.
The budget, our 2012 budget, takes the long-term view for Canada's prosperity. It is prosperity that will last for generations as we go forward.
In my riding and others like it, we did experience hardship in the wake of the global economic downturn. Our local economy is turning the corner. Local companies are recognizing new opportunities in the global economy and taking action to capitalize on these opportunities.
Our businesses are forging those strategic partnerships with our blossoming post-secondary institutions. Our municipalities are attracting new investments and highlighting the benefits of locating or expanding in our region.
For many years, my community suffered with high rates of unemployment because of the evolution of manufacturing and the fact that the new knowledge economy was replacing, in many ways, the older manufacturing of the past. We are survivors and have survived it.
However, we must recognize that Canadian business, to compete globally, must have a competitive advantage. One of the great advantages we see in the future is investing in the brightest and the best in the areas where our country needs expertise to move us forward.
The budget is long-term thinking. It is one on which I have heard so much positive feedback from different sectors, the educational sector, the business sector, as the right way to go at this time for our country.
I encourage all parliamentarians to support the budget.