Mr. Speaker, I will take my time to talk about budget 2012 and the positive changes it will bring to Canada. I will also take a bit of my time to correct the record on some of the things that my hon. colleague across the way from Bonavista—Gander—Grand Falls—Windsor had to say.
I will go back to the beginning of his speech when he talked a bit about the 2005 budget and the Atlantic accord. The changes that came forward under our government to the Atlantic accord ended up with Nova Scotia getting a better agreement. Unfortunately, Newfoundland and Labrador was no longer a have-not province and did not reap the benefits of Atlantic accord. Every province in Canada should have that problem. Good for it; I applaud it for that reason. Some of the environmental changes the hon. member talked about in this budget will actually improve the process for oil and gas operations on the east coast of Canada, including of course the very rich oil fields on offshore Newfoundland.
It is worth taking a look at what we are discussing. Budget 2012 is called coming back to balance. We are going to do that in a way that will bring budgetary balance and will also streamline some of the processes we have in this country, be they environmental, banking or employment insurance related, not to be negative but to assist our country to get back to a balanced budget.
It also important to note that nothing in this budget is going to bring in a new Fisheries Act. Since the hon. member is from Newfoundland, I hope he would understand the importance of some government in the House some day bringing in a new Fisheries Act. If he does not, then I am left shaking my head.
I come from a part of the world that is dependent on the fishery. In the southwestern end of Nova Scotia, there are 1,688 boats fishing in the most affluent fishery in Canada, without question. I can say that they are hobbled by a Fisheries Act that dates from 1867. They are absolutely handcuffed by archaic legislation and it is time we moved that 1867 act into the modern era. That does not mean we throw the baby out with the bathwater. It does not mean that all the changes that have come forth regarding the fishery get put into the act. I would hope that in this day and age, in 2012, we can look back at that act, say let us move it forward, modernize the fishery and keep all the good things that we have brought into the fishery along the way.
I would like to speak directly to the budget bill and how it affects my home province of Nova Scotia. Nova Scotia has always been a trading province, from the days of the clipper ships to the days of the schooners. It was the part of Canada where Champlain first stepped ashore in 1604. We have consistently made a living off the land and off the sea and have traded our resources around the globe. That is the only way Canada can survive and excel today. We have tremendous resources and a great workforce, and we have to trade those resources around the world in a global economy. We are absolutely capable of doing that.
I am chagrined when the union membership across the country stands and says that we should put up protectionist walls and barriers. It would be the end of society as we know it. It cannot be done. We need to trade and we meed to trade on an equal footing. That means insisting that our trading partners have rules-based trading and that they respect our rules and we respect their rules. It is not complicated.
Both of the hon. members before me, as well as the member for Edmonton—Leduc, talked about the major projects initiative. The economic action plan 2012 proposes $54 million over 2 years to continue to support effective project approvals through the major projects management office initiative, which has helped to transform the approvals process from major natural resource projects by shortening the average review times from 4 years to 22 months.
I think just about everybody in this place would agree that if they had a large project ready to go forward, with investors on the hook for billions of dollars from all over the planet, they would expect to get that passed sooner than four years. Surely it needs a good environmental review and proper inspections nut surely that can occur in 22 months without duplication by the province and the feds. The average approval process, as I said before, is 4 years and, if we go to 22 months, I do not think there can be any disagreement from the opposition side of the House.
Consultation under the Canadian Environmental Assessment Act would propose that $13.6 million over two years to the Canadian Environment Assessment Agency to support consultations with aboriginal peoples related to projects assessed under the Canadian Environmental Assessment Act to ensure that their rights and interests are respected and that they benefit from economic development opportunities. I think that is called consultation. There is nothing wrong with that. We need to bring the players to the table but it must be done in a timely fashion.
We will strengthen pipeline safety. Every Canadian would support strengthening pipeline safety. I have a colleague who has the sour gas pipeline that goes behind his house. It is safe. Nobody is in danger from that. However, we know it is safe because of a regular inspection system. Again, this is not rocket science. This is good, common sense stuff.
The reality will be that oil pipelines and gas pipelines inspections will increase from 100 to 150 inspections. I am sure that is something that everyone in this House would support.
This is extremely important to the offshore industry in Nova Scotia and the offshore oil and gas industry in Newfoundland and Labrador. Offshore oil and gas developments create jobs and support economic growth in Canada's communities. Continued exploration activity is required to bring new projects to communities and sustain these economic benefits over the long term and depends on modern reliable seismic technology and data.
To advance exploration for new developments, economic action plan 2012 proposes to amend the Coasting Trade Act to facilitate access to Canadian waters for the global fleet of vessels that undertake seismic surveys. This would ensure that private sector companies have the information they require to identify potential resource development opportunities.
In Nova Scotia alone, this budget will mean a lot more dollars for Nova Scotia. It will be almost $2.5 billion when we look at the increase in transfer dollars, the increase in the health transfer, the increase in the social transfer and the increase in the training opportunities that will be made available. This is a good budget for Canada and a great budget for Nova Scotia.