Mr. Speaker, I am rising today to speak to a bill focused on building a strong middle class that will build up our economy, Bill C-29, the budget implementation act 2016, no. 2.
Budget 2016 is a real plan to do the two things Canadians told us to do: help them and their families, and grow the economy.
I want to take a moment to compliment the finance minister and his team's work. I also want to thank his parliamentary secretary. The member for Saint-Maurice—Champlain came to Brampton last week. He is an honorary Bramptonian now. We consulted the Brampton Board of Trade and a number of economic stakeholders on important issues going forward into budget 2017.
Brampton has a lot to celebrate. There have been so many exciting developments in these past months: a long-desired university site coming to Brampton; the opening of Peel Memorial hospital in February; and other infrastructure developments, such as water and wastewater funding, which will protect Brampton against another flood situation, investment in post-secondary institutions such as Sheridan College in my riding, and Canada 150 local arts funding in order to keep our vibrant downtown an arts hub.
At the consultation we heard that these developments need to be expanded upon, and I agree. I will not stop listening to Brampton's needs as we move forward into this exciting period of growth and development for all our children.
I was pleased to hear at the event last week that many agreed with the fact that there is much ahead. I look forward to engaging in that discussion, building upon budget 2016 and these measures we are discussing today.
People in my riding have noticed we have accomplished a lot already in our first year. A number of online lists outline the things we have accomplished.
It is important for Canadians to understand that our government's plan builds upon things that strengthen the infrastructure of our system itself.
Without a strong CPP, without strong cities, without post-secondary investment, everything else suffers. Building the Canada of tomorrow means investing today, now. We as a government understand that it matters to build from the ground up and focus on people first. Brampton understands that these major developments will make our community stronger and our children's lives better.
In the last year, we took some important steps toward helping families regain the confidence they will need to drive our economy forward. We cut taxes for close to nine million Canadians. Our middle-class tax cut was the first thing we did as a government. We increased Canada student grants for students from low- and middle-income families and for part-time students. We increased monthly payments for the most in need seniors. We signed an agreement with the provinces to enhance the Canada pension plan to provide young people and future generations of workers with a stable and dignified retirement. We have also begun making major investments that will help the middle class grow and prosper today, while delivering economic growth for years to come.
This second budget implementation act proposes items that will complete the implementation of outstanding measures from the Government of Canada's first budget, growing the middle class.
We should be proud of what the House has passed. Budget 2016 puts people and families first. It introduces investments that take an essential step to growing the middle class. It is the first step of a long-term plan to restore hope and revitalize the economy for the benefit of all Canadians.
The bill we are debating today would help foster a strong Canadian economy and would enable Canadians in the middle class and those working hard to join it to keep more of their money to save, invest, and ensure economic growth.
The bill includes measures that would help families, give seniors a little more flexibility, protect consumers, and improve the quality and integrity of our country's tax system.
In budget 2016 one thing that we introduced, which is at the centre of what I notice making a real difference in Brampton South, is the new Canada child benefit. The Canada child benefit is simpler and more generous than the benefits it is replacing. It is also tax free and better targeted to help those who need it most.
The Canada child benefit will lift hundreds of thousands of children out of poverty in Canada. The cheques began to go out in July, and nine out of 10 families are now receiving more money than they did under the previous system. Families in my riding of Brampton South can use that money to make more nutritious choices for children's lunches, buy a warm coat for winter, or invest in activities like soccer or basketball.
Let me explain how this benefit will help Canadian families. Parents with children under the age of 18 will receive a maximum annual benefit of $6,400 per child under the age of six and $5,400 per child aged six through 17. Supporting this budget implementation bill would help ensure that the Canada child benefit will be indexed to inflation so that the families can count on this extra assistance today and for years to come.
This budget implementation bill would also support seniors by helping them retire in more comfort and with dignity. Canada's retirement income system has been successful in reducing poverty among seniors. However, some seniors continue to be at a heightened risk of living with low income. In particular, single seniors are nearly three times more likely to live with low income than seniors generally.
I see an unfortunate number of them in my riding. There is much more to do to help seniors living in poverty and to prevent the next wave of people who are retiring from facing this situation some day. Budget 2016 aims to help seniors retire comfortably and with dignity by making significant new investments that support them in their retirement years. In budget 2016, we repealed the provision of the Old Age Security Act that increased the age of eligibility for old age security and the guaranteed income supplement benefits from 65 to 67 years of age, and the allowance benefits from 60 to 62 years of age over the 2023 to 2029 period. Restoring the eligibility age for old age security and the guaranteed income supplement benefits to 65 will put thousands of dollars back into the pockets of Canadians as they become seniors and look to retire. That is the right thing to do.
Budget 2016 also increased the guaranteed income supplement top-up benefit by up to $947 annually for single seniors most in need, starting in July 2016. This is helping those seniors who rely almost exclusively on old age security and the guaranteed income supplement benefits and who may therefore be at risk of experiencing financial difficulties.
This measure represents an investment of over $670 million per year and will improve the financial security of about 900,000 single seniors across our nation.
In the second budget implementation bill, we are delivering on the promise we made in budget 2016 to support senior couples who face higher costs of living and are at an increased risk of poverty because they must live apart. The second budget implementation bill would amend the Old Age Security Act to make the program more flexible. When couples who are receiving the guaranteed income supplement and spouse's allowance have to live apart for reasons beyond their control, each will receive benefits based on their individual income. With respect to the income supplement and spouse's allowance, the government is improving fairness for seniors and helping them live with the dignity they deserve and need in retirement.
In conclusion, budget 2016 represents a giant step forward in our plan to put people first and deliver the help they need now, while investing for the years and decades to come.
I am so proud of these measures. They are focused on middle-class communities like Brampton South, which is a model riding where these benefits make a real difference.
We can and must do more, and we will do more. We can achieve the Canada of the future together. Therefore, I encourage all members in the House to support this bill. It is right for Canada, it is right for families, and it is right for the middle class.