Mr. Speaker, I am thrilled to rise in the House and speak in support of the economic action plan 2013 act, no. 1.
Since July 2009, our government's policies have helped the Canadian economy create over 900,000 net new jobs and lead the G7 in economic recovery.
Prior to the introduction of this budget, I had the opportunity to meet with many of my constituents in order to hear their concerns on the economy and to get their input. Through these meetings, I can report that the citizens of Brampton—Springdale strongly support the important actions our government has taken to lead Canada.
My constituents understand that our country is changing and want our government to look ahead into the future and plan for generations to come. They want their children to grow up in a country where job opportunities are plenty. It is for this reason that our government has tabled a strong and stable budget that every Canadian family can benefit from.
Like all Canadians, the wonderful people of Brampton—Springdale understand that the job of steering Canada through a troubled global economic downturn is not yet finished. There is still work that has to be done. Our government has done an outstanding job when it comes to keeping our country on the right track. In order for our country to stay on the right path, we must implement the measures introduced in the budget. This is not the time for us to rest on our hands. Our government and the citizens of Brampton—Springdale understand it very well.
During my consultations with my constituents and small business owners, there were four very clear priorities: creating jobs, support for small businesses, improving infrastructure and overall respect for the taxpayers.
Last year, small businesses across the country praised the hiring credit for small businesses. By extending the hiring credit for an additional year, an estimated 560,000 employers would be eligible to take advantage of this program. The true success of the hiring credit can be measured by the number of companies that took advantage of the assistance already provided.
Each job created represents an individual receiving a new employment opportunity. It is one more person who is given a chance to return to the workforce. These are real people with families who depend on them. I am proud to stand in the House and support a budget that is going to make their lives easier.
Over 80% of the businesses in my riding are designated as small or medium-sized businesses with fewer than 50 employees. Many of these are small and family-run businesses. The budget would increase a lifetime capital gains exemption to $800,000 from $750,000 and index it going forward. It would now be easier for owners to transfer their family businesses to the next generation when the time comes, encouraging the entrepreneurial spirit that makes Canada great.
However, this is not the only way that we would be helping Canadians find the jobs they need to support their families. In economic action plan 2013, our government also introduced the Canada job grant. This grant would assist Canadians by providing the training and skills they need to take on a new or better job.
There are a number of manufacturers that call Brampton—Springdale home, like Blue Giant Equipment, Magnum Integrated and Gray Tools. Our government recognizes the important role the manufacturing sector plays in our economy.
Since 2006, we have worked hard to help the manufacturing sector by lowering taxes, cutting red tape, and making Canada the first tariff-free zone for manufacturing in the G20.
With our economic action plan 2013, we would continue our support for manufacturers that keep jobs in Canada, by extending the temporary accelerated capital cost allowance for new investment in machinery and equipment. Extending this tax relief for an additional two years would provide businesses in Ontario with approximately $562 million in tax relief and would allow these firms a greater opportunity to expand operations and create new jobs.
The budget would also invest $18 million into the Canadian Youth Business Foundation to help young entrepreneurs start and grow new businesses, with an additional $5 million for post-secondary scholarships and bursaries for first nations and Inuit students. By investing in the best and brightest of our youth, we would be supporting the next generation of Canadian leaders in all fields and helping to ensure the long-term prosperity of our country.
The City of Brampton has benefited tremendously from the gas tax fund for municipalities. The budget would index the gas tax fund payments to provide municipalities with reliable funding to support job-creating infrastructure projects across Canada. With this funding, municipalities would be able to build roads, improve public transit and build new recreational facilities for their residents to enjoy; residents would be able to commute to and from work much more quickly as communities expand their transit and infrastructure network to meet ever-increasing demands; businesses would save on lost productivity due to traffic congestion in our cities; and Canadians would be able to spend more of their time with their families, rather than stuck in traffic.
This is an issue of great concern to many of my constituents in Brampton—Springdale. I know that they support our government in making this a top priority.
Finally, our government would achieve these aims while ensuring Canadian taxpayers are treated with respect. The budget would improve the fairness of the tax system, align employee compensation at crown corporations, and introduce a new temporary first-time donor super credit for first-time claimants of the charitable donation tax credit.
Economic action plan 2013 would take important steps to demonstrate to hard-working Canadian families that our government remains committed to the priorities of jobs, growth and long-term prosperity.
As the member of Parliament for Brampton—Springdale, I am proud to support the next phase of Canada's economic action plan. It would directly benefit the families, children, seniors, new Canadians and businesses in my community. However, on a larger scale, this budget would help all Canadians and the plan set before us would provide a promising future for our country.
I look forward to continue working alongside every one of my constituents as a member of the government focused on creating jobs, relieving financial stress and providing the assistance that every hard-working Canadian truly deserves.