Mr. Speaker, it is a pleasure to rise to discuss this important issue.
We are talking about the expansion of the Billy Bishop airport in Toronto and the benefits that such an expansion would have for Toronto. We are talking today about Bombardier and the benefits that the airport expansion would have for Bombardier and more broadly the province of Quebec, but we are also talking about a fundamental principle, and that is the importance of stimulating the economy and how we do so.
I think there is broad agreement in this House not only about the importance of having a strong economy but also about the role for government in looking for ways to strengthen our economy, in looking for policies or structures that can be put in place to facilitate stimulation of the economy.
We have a different approach on this side of the House. Our view is that as much as possible, the first action is to seek to work with and leverage opportunities for investment for stimulus from within the private sector. If there are opportunities to encourage private sector investments that lead to economic stimulus and economic growth, that is a very good thing. We should prioritize these types of initiatives as much as possible. We should look first to stimulating private sector investment before looking for big injections of public dollars.
That approach is different from the government's approach. The Liberals jump automatically from wishing to have a strong, stimulated economy to saying that means the government has to put in a whole bunch of new spending.
Again, we know of the government's plan to run very large deficits, but I think what is behind that is a fundamental misunderstanding of the way we stimulate the economy. We want to see strong private sector-driven economic growth, and this motion is an example of how we go about doing that. We want private sector-driven economic stimulus. We want policies that make it easier for the private sector to make investments, and that is exactly what the motion is all about.
Our strategy prioritizes private sector investment, and that is where we start. We did a number of things that encouraged that kind of investment. One of the ways to encourage private sector-oriented stimulus is to have open trade and efforts to attract international investments, and of course we did that over the last 10 years. A strong transportation network, frankly, is part of that. It is part of facilitating international trade and the people-to-people interactions that make trade possible.
Of course, a stable but relatively limited regulatory environment is important as well. This encourages new investment. A regulatory environment that is predictable and limited but that is always oriented to encouraging new investment is important. This is what we need to stimulate our economy. This is what we need to encourage private sector-driven stimulus.
The third thing, and the focus of our discussion today, is how important transportation and infrastructure links are for having private sector-driven economic stimulus. In the history of our country, which is such a large country, transportation and infrastructure links have always been very important. There is a role for the government to be involved in those things, but whenever there is an opportunity to encourage private sector investment in transportation and infrastructure links, I would argue that we need to work as hard as possible to make that happen.
One of the things we have talked about in this House is the importance of pipelines. Pipelines are the nation-building infrastructure of the 21st century, and another part of that is strengthening our airports and the airport connections in the country. This is what this is all about: having pipelines, having airports. These things interconnect our country economically to facilitate trade and help to create jobs.
I am sure other members have talked specifically about the economic benefits of the Billy Bishop airport, but let me just go over this again. Annual direct impacts are close to 2,000 jobs, $100 million in wages, $220 million in GDP, and $980 million in economic output. A study found that the impact of non-local visitors' spending on air services at the airport amounted to approximately $150 million a year, so we know that significant economic benefits are facilitated by having that transportation infrastructure in place.
We need to do this. We need to see the value of this. We need to get this done. It is just unfortunate that we are dealing with a government right now in this country that really only sees one tool in the tool box when it comes to stimulating the economy. When the Liberals want to have a strong economy, they think the solution is always more government spending. During good times, bad times, and in-between times, all they want is more government spending. The reality is that when they have a hammer, every problem looks like a nail.
As a result, instead of simulating the economy by identifying opportunities in the private sector by working with the private sector to facilitate investment from other places, they just want the government to spend more money.
Our approach on this side of the House is different. Recognizing a multiplicity of tools in the toolbox for stimulating and strengthening the economy is necessary, but generally speaking, public expenditure should be a last resort. If we can stimulate the economy without having significant injections of taxpayer dollars, that is obviously preferable, because any major government spending does cost taxpayers.
I want to talk a bit about the issue in the context of local control and who is involved in making decisions with respect to the airport. There is a tripartite agreement in place that gives the federal government theoretical authority to make decisions about this airport, but because this is a development decision, a decision about what happens inside Toronto, we see it as something that the people of Toronto should ultimately make the fundamental decision about. Even though we encourage development, we want to see local control in this context.
Proceeding with development projects can always be difficult, whether we are talking about building a building, expanding an airport, or doing natural resource development. It can be difficult enough without having the involvement of many different levels of government where everyone feels like they have to be onside before something can move forward. Let us let the people most directly involved and most directly impacted have the biggest role in this. The City of Toronto has put a lot of money into studying this. It has effectively been limited now in its ability to proceed because of the Liberal government's desire to interfere, which it technically and legally does have the authority to do, but which most properly should be decided by the people of Toronto.
These are really the central points here that the government is missing. When the government is stimulating the economy, it is not all about putting a whole bunch of money into the economy if there are opportunities instead to leverage private sector investment. This is something that has huge economic benefits for Ontario and Quebec. There is an opportunity to leverage the involvement of the private sector, and that is a better way to go, a better way to stimulate the economy, than the alternative, which is simply the government putting a bunch of money into things.
Then there is also the issue of local control. The challenges with development are enough that we do not need everyone trying to control the process. We should leave the process as much as possible to the people of Toronto, to the people directly affected, and to their representatives in the City of Toronto.
I think that on that basis, understanding the proper place of economic stimulus and the need for local control, this is an important motion. I look forward to voting in favour of it.