Mr. Speaker, as I was saying, I would like to identify and discuss a few measures in the budget implementation bill that are of particular significance to the communities, businesses and people of Nipissing—Timiskaming.
The first topic I would like to discuss is that of the manufacturing sector. My constituency is home to several leaders in the manufacturing of mining equipment and technologies that provide many high-paying jobs to our local economy. When these companies grow, it is the local communities that benefit.
During this fragile economic recovery, it is important to ensure we support manufacturers. To provide support for investment in machinery and equipment for the manufacturing and processing sector, the budget implementation bill outlines in greater detail how the government will extend the temporary accelerated capital cost allowance for an additional two years to include investment in eligible equipment in 2014-15. This will provide the manufacturing and processing businesses in Ontario approximately $562 million in tax relief to grow their companies and create jobs. This tax break for new manufacturing machinery and equipment will help reduce costs for businesses, like those in my riding, meaning they can invest more in additional production and employees.
This will help them grow. It will help Nipissing—Timiskaming grow. It will help Canada grow.
The Canadian Auto Workers Union president, Ken Lewenza, commented, “The future of Canadian prosperity is tied to a vibrant manufacturing sector...These funding announcements are crucial...”.
This budget further assists Canadian manufacturers and other sectors by levelling the playing field through the modernization of Canada's general, preferential tariff regime for developing countries.
Manufacturing businesses connected to the mining sector in my constituency will further benefit from Bill C-60 with the introduction of a mineral exploration tax credit for flow-through share investors. The tax credit will help initialize investors to explore and of course subsequently develop new or existing mining sites.
With the Ring of Fire so close to Nipissing—Timiskaming, I am confident in the results this measure will help produce for my constituency and for development across Canada.
Concerning the families and individuals in my constituency, I am pleased with the introduction of yet additional tax relief for Canadians in this budget. The elimination of all tariffs on various items, such as baby clothing and certain sports and athletic equipment, will help put back even more money into the pockets of Canadian families.
This, in addition to the adoption expense tax credit, temporary first-time donor super credit and the expanding tax relief for home care services are also part of budget 2013, is exactly why under this government the typical Canadian family saves over $3,200 in taxes, $1,000 of that alone from when we cut the GST from 7% to 6% to 5%.
The opposition parties like to talk about the nasty surprises lurking in Conservative budgets, but Canadians know this is not the case. Canadians know and can rely on this Conservative government to put forward responsive, effective budgets focused on keeping the economy growing, balancing the budget by 2015-16 and, as always, continuing to ensure Canadian families keep more of their hard-earned money.
Another measure of Bill C-60 important to many of my constituents is that of improving veterans' benefits. As many know, my riding is home to CFB 22 Wing and Canada's NORAD base during the Cold War. The military, particularly the air force, has played a predominant and respected role in our communities.
We are proud of our veterans and the distinguished role they play in our communities. Bill C-60 would ensure that additional disability pensions provided for Veterans Affairs to eligible low income veterans would no longer be deducted from them or their survivors under the war veterans allowance.
Canadian veterans have demonstrated exceptional courage and have served Canada with distinction. The government honours their sacrifices by working to ensure their quality of life is continually improved.
This first budget implementation bill will keep Canada on the right track. Canada has one of the strongest fiscal positions, globally, with the lowest debt-to-GDP ratio among G7 countries.
Our unemployment level has continued to be well under that of the U.S., and our economy has expanded for six straight quarters now.
In closing, I call upon the NDP and Liberal Party to rise above party politics and vote in favour of Bill C-60. I call upon them to vote in favour of Canadian jobs, Canadian businesses and Canadian families. Canadians know that this Conservative government is committed to delivering economic growth, jobs and low taxes. Bill C-60 would be yet another part of that. I call upon the opposition to be a part of the solution and not the problem. Bill C-60 would greatly benefit the local economy in my constituency and indeed Canada as a whole. I look forward to their supporting it.