Mr. Speaker, thank you for the opportunity to speak to the budget implementation, creating jobs, growth and long-term prosperity for Canadians.
I have just a couple of minutes to introduce my speech and I will do that by giving a little history lesson, talking about what happened in the past, where we are today, why the bill is so significant and why this has been a process rather than just another budget.
In 2009 we experienced the global meltdown we all remember so vividly. Some would call it a recession, but in some places in the world it is called a depression. It was definitely the worst thing that happened to our economics in this country and around the world since the Great Depression. In 2009 our government introduced Canada's economic action plan in response to the near-global collapse that took place. This plan sought to stabilize Canadian markets and restore financial security and stability.
I do not have time to go through my whole history lesson, but the International Monetary Fund urged that all countries in a position to do so inject fiscal stimulus of 2% of gross domestic product to reduce the effects of a damaging recession. Of course, this meant deficit spending over a period of time until the markets returned to normal. Canada was part of that.
We have made some important and right decisions in the past. Since 2006, for instance, the average family of four pays $3,400 less in taxes than it did previously. Today we see that, and it is a result of decisions taken in 2006.
My time is up. I will pick up where I have left off on Monday.