Mr. Speaker, it is a great pleasure for me to rise in the House today to speak in support of Canada's economic action plan 2012. I am pleased to be sharing my time today with my hon. colleague, the member for Chilliwack—Fraser Canyon, who I know is a hard-working and effective representative for his constituents.
A year ago today, during a time of immense global economic challenge, Canadians from coast to coast to coast were asked to make a choice about who would lead them on a path toward jobs, growth and long-term prosperity. On May 2, 2011, they made that choice. They chose our Prime Minister and this government to lead and chart Canada's path.
Canada's economic action plan 2012 is a forward looking, dynamic and exciting plan to increase Canada's competitiveness in a swiftly changing global economy to create jobs for today and those as yet unimagined, to open doors to stable growth and long-term prosperity, all of this while keeping taxes low and returning Canada to balanced budgets over the medium term.
Budget 2012 takes significant steps to encourage entrepreneurship, innovation and world-class research. Budget 2012 improves conditions for business investments and investments in training. Budget 2012 provides for needed infrastructure and vital social programs and services and is there for Canadians.
I would like to take this opportunity, on behalf of the residents of Vancouver South, to congratulate our Prime Minister and our Minister of Finance on the careful and considerate measures in the budget. I am excited by what this budget means for Canada. My neighbours, friends and colleagues are also excited about what this budget provides for our province, our communities and our families.
British Columbia is a province of immense potential. We have abundant natural and energy resources. We are culturally diverse and blessed with the potential of an educated and innovative workforce. Through our ports, roads, rail lines and airports, we are the gateway to the Asia Pacific. B.C. is in many ways vital to Canada's future, and Canada's economic action plan makes that future even brighter.
For British Columbians, the budget would increase access to support for business innovation by creating the western innovation program, or WINN, a new program that would provide financial support to innovative small and medium-sized enterprises in western Canada. This is exciting news for entrepreneurs and the many new and inventive projects on which they are working. This new program will spur innovation and create jobs for the future.
The people of British Columbia are also excited to note the government's commitment to responsible resource development in the budget. The government is taking steps to modernize the regulatory system for project reviews. By streamlining the review process for major economic projects, projects can proceed in a timely fashion, while still protecting the environment. The realization of one project one review is welcome.
The government, through this budget, has renewed its commitment to the major projects management office initiative by proposing $54 million over two years to continue to support effective project approvals. Through this initiative, the approvals process for major natural resource projects will become more effective, as the average review will occur within two years instead of the archaic and project killing process currently in place taking 4, 7 or 14 years.
However, the budget is not just about moving projects; it is about effectiveness and balance. This means ensuring that the voices of people who may be affected by potential projects are heard and that the environment is protected. That is why our government is also taking important steps to ensure that the rights and interests of aboriginal peoples are respected and that they benefit from the economic development opportunities. Budget 2012 proposes $13.6 million over two years to the Canadian Environmental Assessment Agency to support consultations with the aboriginal peoples related to projects assessed under the Canadian Environmental Assessment Act.
Furthermore, our government has committed to responsible energy development and to that end will invest $35.7 million over two years to further strengthen Canada's tanker safety regime and ensure that pipelines in Canada are carefully monitored, environmental consequences are understood and emergency response is improved.
Budget 2012 also proposes $13.5 million over two years to the National Energy Board to increase the number of inspections of oil and gas pipelines, from approximately 100 to 150 inspections per year, and double from 3 to 6 the number of annual comprehensive audits to identify issues before incidents even occur.
Members of the House should know that the natural resource sector is of vital significance to British Columbians. It is therefore crucial that we move projects forward in a timely, responsible manner. Undue delays cost money, time, lost opportunity and, most important, jobs. However, what is most important is that the projects can anticipate a consistent approvals process which is conducted in a timely manner, that the rights of our aboriginal ancestors are understood and respected and that our environment is protected and safety regimes strengthened.
Budget 2012 accomplishes all of this as it strives to update Canada's regulatory systems and processes, while balancing Canada's economic and environmental needs.
Canadians and British Columbians are also excited to see our government take direct action to create jobs. That is why, since 2006, the government has placed a strong emphasis on access to skills training, support for post-secondary education, building a fast and flexible economic immigration system and developing untapped potential in the labour market.
Budget 2012 builds on this foundational work with an enhanced labour market focus and a number of targeted investments that will help respond to current labour market needs and challenges and meets longer-term labour market needs as well. The government will introduce measures to streamline processes and increase funding to better integrate and enable access for certain under-represented groups in the labour force, including immigrants, persons with special needs, youth, aboriginal peoples and older Canadians.
As an example, for young Canadians our government has committed to enhancing the youth employment strategy by investing $50 million over two years to assist more young people to gain the skills and work experience that they need. In addition to enhanced skills, this funding will also help to connect these young people with jobs in areas with skills shortages.
In addition to measures for under-represented groups, our government has also made a commitment to create an advisory council to increase the participation of women on corporate boards. With leaders from the private and public sectors, this council will link organizations to a network of skilled and experienced women and empower them to step into leadership roles and participate at the highest levels of all Canadian sectors.
Furthermore, we are taking important action to create jobs by extending the hiring credit for small business for an additional year. Almost 650,000 Canadian businesses are eligible for this credit. In my province, this is important, as small and medium-sized enterprises in B.C. are thriving and account for over 38% of the total value of goods exported from B.C., a value of $29.3 billion in 2010.
I have consulted with small business owners in my constituency and they are unanimous in their support for this action. They know the difference it will make for their businesses and for those whom they will be able to hire. They know that for every job that is created, there is a positive ripple effect for businesses, families and for our communities.
It is clear that budget 2012 is excellent news for Canadians and British Columbians. As I have already outlined, the comprehensive measures it contains will grow our economy, create jobs and prosperity, but budget 2012 also provides a stable framework for federal and provincial programs.
Canadians and British Columbians have come to depend on provincially administered services like education and health care. During the last election, our Prime Minister committed to protecting these important programs by not cutting and, in fact, increasing federal transfer payments to the provinces. Unlike the former government, our government is balancing the need for economic growth with strong programs.
For British Columbia, major transfer will total over $5.6 billion in 2012-13. This long-term, stable and increased support helps ensure that British Columbia has the resources required to provide essential public services and contributes to shared national objectives, including health care, post-secondary education and other key components of Canada's social programs. The federal government will contribute over $4 billion through the Canada health transfer, an increase of more than $1.2 billion since 2005-06, and almost $1.6 billion through the Canada social transfer, an increase of $393 million since 2005-06.
British Columbia will also benefit from continued direct targeted support in 2012-13, including $67 million for labour market training and $33 million for the wait times reduction fund. This is all significant support for British Columbians and the people of Vancouver South. I understand their enthusiasm and echo their appreciation of the commitment from our federal government to our province—