Mr. Speaker, I want to start by telling our brothers and sisters in Alberta that the people of Honoré-Mercier stand with them. They have our support.
I am very pleased to have an opportunity to participate in this debate on a budget that clearly shows that we plan to honour our commitments. These commitments will make Canada more prosperous, fairer, greener, and more open to the world. These commitments were at the heart of our election platform and are now at the heart of our budget.
In other words, we are doing exactly what we promised to do. We promised real change, and we are keeping that promise. To do so, we must strengthen the middle class and revitalize our economy. These two issues go hand in hand. They are inextricably linked.
Our approach is clear: support those who need it most, while laying the foundation for sustainable economic growth. That is exactly what we are doing with our budget. For example, we are lowering the tax rate, which will benefit nine million Canadians. This measure will improve the quality of life of millions of people who work hard every day to earn a living. These men and women do their best every single day, and they deserve this support. This measure will put more money in their pockets, which will then help them contribute more to our economy.
I would also like to talk about our support for families and young children. We are introducing the Canada child benefit, the largest-ever family benefit. Unlike the previous benefit, our benefit is tax-free. Gone are the days of giving with one hand and taking away with the other.
This benefit will help lift hundreds of thousands of children out of poverty. This is exactly how to fight for a just society. If we truly believe in equal opportunity, then we need to start in early childhood.
It is also important to support those who want to study, and for as long as possible. In that regard, the measure of success is clear: education should be available and accessible based on each student's determination, desire, discipline, talent, and dreams, and not based on the size of their parents' wallets.
That is why our budget proposes to considerably increase Canada student grant amounts. This measure is especially directed to students from low-income families. It is a fair, generous, responsible, and forward-looking measure that gives young people a better chance, for they represent the Canada of the future.
At the same time, we also owe so much to our seniors. They are the ones who built the society we enjoy today. We are here thanks to them. Unfortunately, however, far too many seniors are still living in poverty. We must be there for them, and we will be. That is why we are increasing the guaranteed income supplement top-up benefit by up to $947 annually. This tangible measure will improve the quality of life of over 900,000 seniors living in every province of the country.
We will also invest in upgrading, renovating, and building affordable housing for our seniors because we know that quality of life has a lot to do with the dignity of access to decent housing. That is fundamental, and we know it. That is why we are going to take action right now.
That brings me to a key component of our budget: infrastructure investment. Our government promised to double infrastructure spending over the next 10 years. We are planning to spend over $120 billion, which is an absolutely historic commitment. That includes $60 billion in new money for public transit, green infrastructure, and social infrastructure. Sixty billion in new investments out of a total of $120 billion over the next 10 years is absolutely unprecedented.
These investments will happen in two phases. Phase one starts right away, today, with $11.9 billion: $3.4 billion for public transit, $5 billion for green infrastructure, and $3.4 billion for social infrastructure. That is happening today. Those are major investments.
In the coming months, our government will work closely with our provincial, territorial, and municipal partners to present phase two of our long-term plan. We want this phase to begin as quickly as possible. We do not need to wait for phase one to end before phase two begins. Why are we doing this? We believe that investing in infrastructure means investing in our future; it means building the Canada of tomorrow. It means taking action today for a better tomorrow.
Maintaining and improving our roads, public transit, and water systems are crucial aspects of what we are doing. This is what we are doing, and we are doing it right.
However, there is a lot more to infrastructure than just that. It is also about protecting our environment, building recreation and cultural centres where people can learn, have fun, and grow. It is about providing affordable housing to those who need it. Investing in infrastructure also means building quality facilities for our children. It is about providing a safe shelter for women and children who need to flee domestic violence. In other words, our infrastructure plays an absolutely crucial role in supporting our communities.
Let us think about everything we can do and everything we can do together. With our partners, we are going to invest significantly in public transit. An additional $20 billion is going to public transit. That will help us reduce commuting time, take cars off the road, and reduce pollution. We are going to make our communities more sustainable through environmental infrastructure. We are going to make communities more inclusive by adding more affordable housing and facilities for our children. We are also going to improve and speed up the approval process for projects to ensure that the money is released as soon as possible.
As hon. members can see, our government has big ambitions for our country. We offered real change to Canadians, and that is what we are delivering. We are going to strengthen the middle class, improve Canadians' quality of life, create jobs, and stimulate the economy to make Canada more prosperous and inclusive.
I could go on, but I will stop there and simply say that our budget is more than just an economic statement. It is a beacon that guides our commitment to a Canada that is more prosperous, fairer, greener, and more open to the world.