Mr. Speaker, I am honoured to rise today in the House of Commons to speak to budget 2012, which reflects the unique needs of all Canadians and the strengths of our country, rich in diversity, talent, innovation and resources.
This is a budget we should all be proud of and excited about as we excel into the future. There are several components of budget 2012 that I would like to speak to today, areas that are of particular interest to my constituents, who, over the last year, have shared with me their priorities and concerns and their vision for the future, a vision which can be captured by key measures introduced in economic action plan 2012.
An important part of this budget announces $150 million over two years for a new community infrastructure improvement fund to support repairs and improvements to existing community facilities.
The city of Mississauga, located just outside Toronto, is easily accessible by highways and close to an international airport. This gives the city a strong competitive advantage in attracting business investment. However, to accommodate this growth, investments in infrastructure are imperative.
Through the economic action plan, over 30,000 projects were completed to build and enhance infrastructure across the country. These projects created jobs for Canadians and will facilitate growth and prosperity for many years to come.
Our investments have not taken a one-size-fits-all approach. They have been carefully focused to address the individual needs of communities across this country.
Since 2006 our government has made several important and impactful investments in Mississauga. To name a few, we have invested $15.6 million in Sheridan College and $35 million in the University of Toronto Mississauga Campus. Over the last year, thousands of residents have gathered in the new city square, where our government invested $13.3 million. Since being there to mark the completion of the project last year, I have visited several times for community celebrations. This project has really contributed to the spirit of community in downtown Mississauga. Furthermore, many residents have been impressed by investments in the redevelopment of the Burnhamthorpe branch library, where our government invested $5.5 million.
As Mississauga continues to grow, it has been important to recognize existing infrastructure that needs maintenance in order to keep up with the growing interest of individuals and families in settling here. Across the city, over $12.3 million dollars was invested in replacing old water mains, which will be necessary to accommodate the great future we have envisioned for the city.
As a result of our government's investments in critical infrastructure, many jobs were created and citizens in my riding experience a better quality of life. We have become aware of what can be accomplished when there is collaboration between all levels of government and a focus on the specific needs of a particular and unique community.
Our government's continued investments in infrastructure provided through budget 2012 will ensure that we will build on the improvements I have highlighted and that our cities can continue to prosper.
The budget also addresses the need for driving innovation and small business investment across Canada to secure our economic advantage. While Canada's GDP is well above pre-recession levels, we still lag behind the other G7 countries in driving innovation. That is why we are focusing resources in ways that the private sector needs them most, through direct investment. This will ensure that we are at the forefront of research and development and that jobs that result from these advancements are brought to Canada rather than lost to foreign firms.
Our government's investments in innovation and small business through budget 2012 will help these companies grow in their capacity to serve and employ residents of Mississauga, which is important to the long-term prosperity of our city.
Building on actions taken since 2006, budget 2012 provides direct investments for research and development to the tune of $1.1 billion over the course of five years, allowing for investments in the industrial research assistance program to be doubled.
Additionally, budget 2012 would help small businesses invest in growth opportunities by investing $500 million to help them in accessing early stage risk capital.
Because of our government's focus on driving economic growth and creating jobs, 700,000 more Canadians are working now than in July 2009, exemplary of Canada's position in having the strongest job growth among the G7 countries over the course of recovery.
However, our government understands that many Canadians are still unemployed or underemployed. Economic action plan 2012 shows our commitment to helping Canadians find meaningful employment.
Another part of our plan to support job creation, budget 2012 intends to reduce disincentives to work by investing $74 million over the course of two years to introduce a new national working while on claim EI pilot project. This pilot project would cut down the clawback rate in half and be applied to all earnings while an individual is receiving employment insurance. This would make it easier for Canadians as they search for permanent and meaningful full-time jobs.
The riding of Mississauga East—Cooksville, which I am proud to represent, is an excellent example of the contributions immigrants have made to this great country, to building our economy and to Canada's strength of diversity in heritage. Canada is attracting some of the world's best and brightest immigrants who have the potential to address our labour needs, supporting the growth of innovative and knowledge based industries.
Budget 2012 expands on the accomplishments of budget 2009 where funding was given to support the recognition of foreign qualifications. Budget 2012 would add six additional occupations to the list by the end of 2012, ensuring that the provinces and territories can address labour shortages quickly and effectively. This proves our government's attention to the evolving needs of our economy.
Over the last year, I spent a great deal of time working with the settlement organizations in my riding that often speak to the difficulties foreign trained professionals have in becoming accredited in Canada and bringing their education and experience to the benefit of Canadian business. In February 2012, our government launched the foreign credential recognition loans pilot to provide funding to these community groups to help them grow in their capacity to provide financial assistance to those professionals who are on the road to bringing new business and innovative ideas to Canadians.
Today I have highlighted only a few of the ways that budget 2012 would impact my constituents and all Canadians in real and meaningful ways in their everyday lives, bringing to light many of the priorities of my constituents.
However, it is also important to note that the budget is not short-sighted. It takes into consideration a long-term view for the prosperity of Canada. Budget 2012 introduces measures that would lay the foundation for the prosperous future of our economy. It builds on the momentum and accomplishments we have realized over the last few years and demonstrates a strong vision for building the long-term future of Canada.
It is clear that budget 2012 builds on the accomplishments of our government to support the economy and job creation. Ellen McGregor, chair and co-owner of Fielding Chemical Technologies, Canada's leader in chemical and refrigerant recycling, a business located in my riding, has applauded our work to date and the measures taken in the budget by stating, “Our government is approaching the management of the country like the management of the best-run company, or for that matter, a best-managed household. This budget's measures focus on debt reduction balanced against the goals for increased growth and prosperity. I applaud [the Prime Minister] and his government for the courage it takes to reduce government spending while stimulating job creation and supporting key social programs, for which Canada is proud”.
Budget 2012 not only reflects our government's focus on job creation and economic growth, but also proves a sound understanding of the needs of Canadians, the challenges we face and the realities of a global economy. I am thrilled for the benefits it will bring to my riding and to all Canadians.