Mr. Speaker, it is my pleasure to speak on this NDP motion. It is good to see that the members opposite are, for once, taking a slight interest in speaking about job creation with today's motion. We welcome them to this debate. We have made this a priority since being first elected in 2006. However, they have taken a stance that I strongly disagree with.
The proposition that this government has done little to create jobs and growth is simply wrong. I welcome the opportunity to set the record straight and I would like to thank New Democrats for giving us the opportunity to speak about our record on creating jobs, economic growth and long-term prosperity for all Canadians.
Today, I will emphasize some policy measures that we have taken to lower taxes and create jobs since forming government. Unlike the members opposite, our experience has been with lowering taxes. While they have not met a tax they have never liked, we have created 1.2 million net new jobs since the depths of the economic recession in July of 2009, 85% of which are full-time jobs and 80% of which are in the private sector. Nearly two-thirds of these jobs have been created in high-wage sectors. This is one of the best job-creation records in the G7.
This is in complete contrast to the Liberals and the NDP, who would saddle job creators and the workers they employ with high taxes and high debt. Under our low-tax plan, more Canadians are working today than at any other time in the history of our country. At 6.6%, Canada is now enjoying its lowest unemployment rate in six years.
How did we get here, coming from the largest economic recession since the Great Depression of the 1930s? We started with innovation. We encouraged innovation, which has been essential to economic growth. That is why our government remains committed to supporting innovation in Canada.
As previously stated by government members in the House, we have demonstrated this by providing millions of dollars in support every year to regional development agencies like the Atlantic Canada Opportunities Agency, the Western Economic Diversification Canada, the Canada Economic Development for Quebec Regions, the Federal Economic Development Agency for Southern Ontario, and the Canadian Northern Economic Development Agency. These dollars have been provided so they can work with local businesses, universities and colleges to give them the tools they need to succeed and to help all Canadians grow our economy.
At the beginning of the recession, the government established the automotive innovation fund. This program initially was provided with $250 million over five years to support the automotive firms' strategic, large-scale research and development projects to build innovative, greener and more fuel-efficient vehicles. The government has since renewed the fund for an additional five years and provided it with a total of $1 billion to date, including $500 million through economic action plan 2014. This money and investment in innovation for the automotive industry was thrown out by opposition members when they voted against that budget.
The member opposite has asked us in his motion to stimulate the economy by creating and protecting sustainable, full-time, middle-class jobs in high-paying industries in all regions of Canada. Since 2006, that is exactly what we have done.
Maybe the member opposite needs another reminder of what our government has accomplished to promote job growth in high-paying industries. I am speaking, of course, about supports that we provided to apprentices since taking office. Since 2007, we have launched two apprenticeship grants: the apprenticeship incentive grant in 2007 and the apprenticeship completion grant in 2009. These grants so far have helped over 500,000 Canadians retool their skills for high-paying jobs, jobs that exist and need workers. We are supporting young people across this country to get the training they need to take these good, high-paying, available jobs throughout Canada.
For aspiring apprentices lacking the cash to fund their red seal studies, we now offer them new interest-free loans while they study. Since launching the Canada apprenticeship loan in January, over 2,000 promising students have already received Canadian apprenticeship loans this year. Our government is cutting taxes and increasing supports for plumbers, electricians, and carpenters to create jobs for apprentices from one end of the country to the other.
The member opposite may feel the need to toss around untested theories in today' s motion about how to create good quality jobs and growth, but we in Canada's government have a proven record of success in doing so, even at a time of tremendous global economic adversity. This is because we understand what drives the job-creation process. We also understand how to support this process for the benefit of all Canadians.
Let us take a look, for example, at the role Canada's manufacturers and small businesses play in creating jobs and supporting a strong Canadian economy. Comprising 98% of all employer businesses in Canada, small businesses are a significant driver of economic growth and an important pillar supporting workers, families, and communities across Canada.
Our government appreciates the efforts and contributions these businesses make. As a result, we have implemented a range of policies and programs on the understanding that when our small businesses succeed, all Canadians succeed.
Since taking office, the government has put in place numerous measures that benefit Canadian small and medium-sized companies. For example, the accelerated capital cost allowance for investment in machinery and equipment has been of great benefit to Canada's manufacturers and processors, helping them make the investments they need to compete both at home and abroad. On top of that, various initiatives by the Canada Revenue Agency have helped improve the provision of information and services to small businesses while reducing their administrative burden and increasing taxpayer fairness for all businesses across the country.
These measures build on many others introduced by our Conservative government since 2006 that allow small businesses to make the investments they need to create good jobs and grow the Canadian economy. Since 2006, for example, our government has reduced the small business tax rate to 11%; increased the amount of income eligible for the lower small business tax rate from $300,000 to $500,000; enhanced the availability and accessibility of financial support for innovative small and medium-sized businesses under the scientific research and experimental development tax incentive program; and narrowed the definition of “taxable Canadian property”, eliminating the need for tax reporting under section 116 of the Income Tax Act for investments by, for example, non-resident venture capital funds in typical Canadian high technology firms.
We have also increased the lifetime capital gains exemption on qualified small business shares from $500,000 to $800,000 and indexed this limit to inflation. The exemption limit was increased to $813,000 for 2015 on account of indexation.
We have reduced the paperwork burden on businesses by 20% through the paperwork burden reduction initiative. We also established the Red Tape Reduction Commission to review areas of federal regulation most in need of reform to reduce the cost of compliance for small businesses.
Cutting red tape supports small businesses. Cutting red tape reduces the administrative burden for small businesses, particularly the smallest of small businesses, those with a low number of employees, which do not have the resources available to deal with an increasing tax burden and an increasing administrative burden to deal with those taxes. Lowering taxes and lowering the amount of red tape they have to go through to complete their taxes allows small businesses to have the resources to do what we want them to do, which is hire more people, produce more products, and expand the Canadian economy.
In addition to these measures, we have eliminated close to 2,000 tariffs on manufacturing inputs, machinery, and equipment, providing about $400 million in annual duty savings. New trade agreements with South Korea and the European Union will also bring significant benefits and savings to Canadian businesses and will open up new markets for Canadian exports.
Our government knows that while creating savings and opportunities for businesses to grow and succeed is critical, no business can succeed without high calibre employees. The strength of our country lies with our people. That is why our government has introduced numerous training and employment insurance measures to help businesses create good jobs for Canadians. For example, the new small business job credit will deliver significant EI savings to businesses and will help them defray the cost of hiring new workers.
In case the member opposite is still not satisfied, let us talk about students and how our low-tax plan is benefiting young people across the country. Since 2006, we have ended the Liberal practice of taxing scholarships. In fact, we brought in the textbook tax credit, lowering the amount of money in taxes students have to pay to purchase their textbooks.
Since 2012, the proportion of university-age Canadians attending university or college has reached an all-time high. Around two million students are enrolled in post-secondary institutions right now.
We also established the Canada student grants program for low- and middle-income students, students with dependents, and students with permanent disabilities. Since our government introduced the Canada student grants program in 2009, student loan debt has declined by 10%.
The last thing indebted students need is a tax hike by the Liberals and the NDP, a tax hike that would leave youth with less money to pay off student debt.
While some members of the opposition are asking us to run a deficit in 2015, hoping apparently that the budget will somehow balance itself at a later time, I feel obligated to point out that the benefits of balancing the budget are important for Canadians. The benefits of balancing the budget and reducing debt are obvious to the average Canadian, except, perhaps, members of the opposition. These include ensuring that tax dollars can be used to support and implement important social services, like benefits and health care for seniors, rather than paying interest costs; instilling confidence in consumers and investors, whose dollars spur economic growth and job creation; and of course, strengthening Canada's ability to respond to longer-term international challenges, domestic challenges, and demographic challenges, such as aging populations, unexpected global economic shocks, and global security threats.
Balancing the budget now is our shield against the uncertain forces that may attack Canada in the future. After all, it provided the flexibility for Canada to weather the storm so well when the global economic and financial crisis struck just a few short years ago.
The measures I have detailed today translate into more success, more jobs, and stronger growth for all Canadians. This is what Canada's economic action plan is all about. We have a proven record in being strong stewards of the economy of this country, and Canadians are better off as a result.
I would encourage the members opposite and all Canadians to bear this in mind when considering the risky theories the opposition has to offer. Remember, under our government, the tax burden on Canadians is now at its lowest level in over 50 years, its lowest level since John Diefenbaker was prime minister of this nation. On average, Canadian families are paying $3,400 less in federal taxes each year than they were under the Liberal Party before 2006.
In addition, every family with children in Canada stands to benefit from a range of tax breaks we are putting in place this year.
Contrary to the NDP motion, I strongly believe that the initiatives I have focused on today will significantly benefit all Canadians. We have announced the new family tax cut and the enhanced universal child care benefit, which will leave 100% of Canadian families with children better off, with almost $2,000 back in their pockets.
The vast majority of these benefits will flow to low- and middle-income families. The tax cuts introduced by our government will not only help ordinary Canadians improve their ability to save now but will give them an opportunity to plan and save in the future.
The Liberals and NDP would take these benefits away and would increase taxes on Canadians and hard-working Canadian families. Our plan will keep taxes low and will focus on job creation. I can assure the hon. member for Skeena—Bulkley Valley that economic action plan 2015 will continue to keep taxes low and help Canadians succeed in the growing global economy, creating jobs, growth, and long-term prosperity for all Canadians.