Madam Speaker, I am extremely pleased to rise today to speak to our bill on the Canada pension plan.
I am from Nova Scotia and represent the riding of Sackville—Preston—Chezzetcook, which surrounds the two cities of Halifax and Dartmouth.
This is federalism at its best. I am shocked that the Conservatives are not on board with this important initiative. That was the problem with the last government. Over the last 10 years, there was no co-operation, no partnership, no collaboration of any kind between the provinces and the federal government.
I remember the former prime minister showing up in Newfoundland or in B.C. on a number of occasions, not even advising the premiers of those provinces that he was going to make an announcement. It was unbelievable.
This initiative is a clear indication of how strong our government is in working in collaboration with the provinces and territories. This was not an easy thing to do. This took a lot of hard-working individuals doing what was right for Canadians.
This is not a tax. This is an investment in Canadians. We should be proud of the fact that we are taking important steps toward ensuring that Canadians will be able to retire in dignity.
Let me talk about our youth. We have had experiences and opportunities that they will never have. Most people in here, including myself, have workplace pensions. Today, many businesses do not offer workplace pensions.
When I was young, a pension did not mean much to me because retirement was too far away. However, five or 10 years ago I started to think about whether I had invested enough money and would I have a pension that would allow me to do the things I would like to do when I retired. Young people today may not have the same opportunities. Over the last 10 years, the gap has continued to expand. Instead of pension funds increasing in value, they will probably be worth a lot less when our youth retire. That is even more important.
The United States has predicted a possible shortfall in its social welfare program if it does not invest. We are saying that we need to ensure that Canadians can retire in dignity. We need to ensure that our youth are able to put more money aside. This is an investment in their pension fund, which is extremely important.
This is not an investment where people need to put in everything in year one. This is a seven-year process. Canadians will invest in the CPP gradually. What is the end product going to be? People on CPP today receive approximately $13,110 a year, and that amount depends on the salary they have received while working. With this new plan, they would receive approximately $20,000. That is close to a 50% increase, which is very impressive when we look at how it is going to be structured.
As my colleague said earlier, Quebec, which is not a part of this plan, is looking at implementing some of the pieces of this government's plan, or possibly implementing it all at the end of the day. That is extremely positive.
Let me talk about the OAS. The former government said that Canadians are living longer, so it would not give them their pension at 65. It did not matter if they planned to retire then. No, they would have to work until they were 67; it would not give them their old age pension at 65. This government committed to returning to the retirement age of 65. We did that shortly after forming government, which shows how we were able to move quickly on our commitment.
Let us talk about CCB, the child care benefit. Throughout the campaign, that was the main issue I was hearing about, and I covered approximately 22,000 houses. Young families were out there struggling and needing support so they could provide for their families. That is an extremely important issue, and I was impressed because I asked young couples about the cost for young kids, whether they were struggling, and how we could help. They said that what we were proposing was exactly what they needed. It was to increase the child care benefit by an enormous amount and it would be tax-free. That is what is important, tax-free. That means they would not be taxed on the extra money they would receive from the government to help them as a family. That was a key point for young families.
The other piece that we have to keep in mind is seniors. When we talk about seniors, we brought forward also the 10% increase, which brings almost $1,000 to low-income seniors and single seniors. It is a multiple approach to ensure that we are helping the middle class. That is what it is all about, helping the middle class.
I could spend hours talking about infrastructure, which is one major strategy that will ensure job creation. We need to renovate, we need to improve what is out there, and we need to build, and the infrastructure investments are pieces. It is not just happening in one area. This is an investment that is taking place across Canada, in all parts, in all provinces.
When we put these pieces together, it becomes more and more obvious that we are a government that cares about its people. We are a government that cares about the middle class, youth, and seniors. We are a government that made commitments, and we are delivering on those commitments. I am extremely happy to support the government's CPP initiative.