Mr. Chair, it is good to be here tonight and to be able to discuss some of these issues. I have been sitting here for quite some time listening to the debate.
I guess I am surprised. I thought that the NDP would have come with some positive suggestions, but again tonight it accuses us of ragging the puck. However, what we have seen is the NDP ragging the puck. It basically has no positive contribution to present at all. It is just criticism, as usual. It is always critical, never constructive. Those of us who have had to sit through NDP regimes know how damaging and destructive it is whenever it gets a chance to put any of its policies into place. It is because of the NDP's failed policies that some of us have seen our province fall decades behind others, so I understand why it would not want to present them here tonight.
I am grateful for the opportunity to appear before this committee. In my time today, I would like to focus on the important contribution that natural resources, forestry, and agriculture make to the Canadian economy.
They are a pillar of our Conservative government's action plan. These sectors create jobs and prosperity, particularly in rural communities across the country.
Consider, for example, Canada's natural resource sector. The sector represents 18% of the economy and over half of our exports. It supports 1.8 million jobs directly and indirectly. Furthermore, it generates about $30 billion annually in revenue to governments, equal to approximately half of all spending, for example, on hospitals in Canada in 2013.
There are hundreds of natural resource projects under way or planned in Canada over the next 10 years, representing a total potential investment of $650 billion. A significant element of this economic boost is represented by Canada's unique oil sands industry, and this sector is an asset that will increasingly contribute to the prosperity of all Canadians.
The oil sands are among the world's largest technology projects, contributing about 275,000 jobs across Canada and $48 billion in GDP, numbers that could grow to an average of 630,000 jobs and a contribution of $113 billion in GDP per year up to 2035. This is owing to an increase in global demand for resources, particularly from emerging economies.
Increasing global demand for resources such as oil, particularly from those economies, will create new economic and job opportunities from which all Canadians will ultimately benefit. However, Canadians will only reap the benefits that come from our natural resources once investments are made by the private sector to bring those much-needed resources to market. Approval processes can often be long and unpredictable. Delays and red tape often plague projects that pose few environmental risks. That is why our government has worked hard since 2006 to streamline and improve the regulatory process at the same time as it is safeguarding our environment.
A modern regulatory system should support progress on economically viable major projects and sustain Canada's reputation as an attractive place to invest. That is why, as part of Canada's economic action plan, we are modernizing the federal regulatory system. We would establish clear timelines, reduce duplication and regulatory burdens, and focus resources on large projects with the greatest potential environmental impacts. For example, we would implement system-wide improvements to achieve that goal of one project, one review within clearly defined time periods.
We have invested $54 million over two years to support more effective project approvals through the major project management office initiative.
In the most recent budget, we supported the National Energy Board by announcing $28 million over two years for the comprehensive and timely reviews of applications and to support participant funding programs, and we would eliminate tariffs on mobile offshore drilling units used in offshore oil and gas exploration and development.
We also announced an extension of the mineral exploration tax credit until March 31, 2015. This credit helps junior exploration companies raise capital by providing an incentive to individuals who invest in flow-through shares issued to finance mineral exploration. The credit is in addition to the regular deduction provided for the exploration expenses flowed through from the issuing company. Since 2006, this measure has helped junior mining companies raise over $5 billion for exploration.
Our Conservative government has also amended the Coasting Trade Act to improve access to modern, reliable seismic data for offshore resource development. 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.
However, it depends on modern, reliable seismic technology and data, which is why amending the act would ensure companies have the information they would need to identify potential resource development opportunities.
In addition to supporting responsible resource development, we must not forget the important contribution our forestry sector makes to our country as well. Canada's forestry sector directly employs over 200,000 workers in all regions of the country, including in 200 communities that rely on the sector for at least 50% of their economic base. Our government has helped this vital industry stay strong. The investments in the forest industry transformation program introduced in budget 2010 have been very successful in enabling Canadian forest companies to lead the world in developing and demonstrating the viability of innovative technologies that improve efficiency, that reduce environmental impacts and that create high-value products from Canada's world-class forest resources.
Through programs like IFIT, we have seen an over 1,000% increase in exports to China, which has helped this sector weather the economic downturn in the United States. For example, IFIT provided support to the Tolko Industries mill in Meadow Lake, Saskatchewan to develop the first facility in North America to use innovative technology to boost productivity by enabling the production of different types of oriented strand board on one single production line. Economic action plan 2014 will provide $90.4 million over four years, starting in 2014-15 to renew the IFIT program. Our government will continue to work with the forestry sector as it invests in innovative new products and pursues new markets for Canadian forest products.
Finally, the last topic I would like to highlight is our support for the agriculture and agri-food sector. This sector accounts for $100 billion in economic activity and provides employment to over 2.1 million Canadians. It is a sector that we continue to support. Since 2007, we have partnered with federal, provincial and territorial governments. We have partnered with producers through a suite of business risk management programs, including agri-stability, agri-insurance, agri-invest and agri-recovery to provide assistance to producers in cases of severe market volatility and disasters. In addition, federal, provincial and territorial governments invested substantial amounts, actually over $2 billion during the first growing forward agricultural policy framework, to promote competitiveness and innovation, to promote food safety and environmentally responsible farming practices.
In April 2013, working with the provinces, we introduced the new growing forward 2 policy framework, which will provide more than $3 billion over the next five years for investments, innovation, competitiveness and market development.
In February, through economic action plan 2014, we announced the expansion of the types of farming livestock that qualified for tax deferral on sale by farmers dealing with drought or with excess moisture conditions.
Since 2006, our government has continued to create the right conditions to enable Canadians and Canadian businesses to feel confident to invest, to create jobs, to participate in the global marketplace and to grow our economy. The role of government is to put in place the right balance of policies and initiatives to support growth and to unleash potential. That is exactly what we are doing. We believe it is the ingenuity and creativity of individual Canadians that will create lasting economic growth in jobs in their communities and across the country.
Considering the importance of this sector, I would like to ask the minister a question. What recent measures has the government introduced to support the mining, forestry and agriculture sectors in Canada?
