Mr. Speaker, it is with a great deal of sadness that I rise in the House today. I speak for the people of London, Ontario, when I tell the people of Fort McMurray that we are thinking of them and that our prayers are with them. We in London and Canadians across the country are also thinking of any members opposite, specifically those members who represent Alberta ridings, who have friends and families who might be impacted.
Today I am pleased to rise in support of Bill C-15. Simply put, budget 2016 is a significant step in the right direction.
During the election our party promised to grow the middle class by working hard to deliver much-needed help immediately, instead of several years down the road. Canadians asked for assistance now in order to make life a bit easier, and that is exactly what the budget is delivering.
Different plans were put forward by the other parties during the past election campaign, plans that would have seen balanced budgets at all costs. These plans would have resulted in cuts instead of investments, stagnation instead of growth. Ultimately the proposals of the other parties would have left the middle class and those working hard to join the middle class struggling.
The results of October's election showed the idea of balanced budgets at all costs was clearly not supported by Canadians. Instead, Canadians voted for investment, growth, revitalization of the Canadian economy, and help for today instead of tomorrow.
Since being elected this past October, the government has implemented a great deal of positive change that will make the lives of everyday Canadians that much better. However, the program introduced in budget 2016 that I am most proud of is the Canada child benefit.
In my community of London North Centre, numerous constituents have told me that it is becoming harder to make ends meet. With prices increasing on a wide variety of everyday items and wages not keeping up, it is now more difficult to afford the extras in life. Whether it is sending their children to camp, affording a new pair of shoes for their son or daughter, or enrolling their children in organized sports, there is simply not enough money left at the end of the month to make these important purchases. The Canada child benefit would work to rectify this problem.
The benefit is an exciting change for several reasons. First, families who are eligible would receive a maximum annual benefit of up to $6,400 per child under the age of six and up to $5,400 per child aged six through seventeen. Payments moreover will happen monthly and start this July. Families who are eligible for this new program will see an average increase to their current child benefits of almost $2,300 per year.
The Canada child benefit would ensure that nine out of 10 families would receive more money in their pockets than under the current system. This innovative and forward-thinking benefit would assist approximately 3.5 million families. Moreover, the benefit, and I emphasize this, would not be taxable.
Most importantly, the Canada child benefit would ensure that in 2016-17 approximately 300,000 fewer children would be living in poverty compared to 2014-15. In the London and surrounding area that would equate to approximately 9,000 fewer children living in poverty. These numbers will only continue to decline in the years to come thanks to benefits like this.
The path to a strong economy is to have a robust and vibrant middle class. By introducing the innovative, bold, and desperately needed Canada child benefit, the government will ensure that the middle class and those families working hard to join the middle class would have more money in their pockets. With that extra money these Canadians would have the opportunity to save, invest, and grow the economy. Canadians would be able to look forward to a better standard of living, one that will allow their children more opportunities for success. As previously stated, I am extremely excited about this benefit. My constituents have told me this will make an immediate difference in their lives, and I am here to fight for those constituents each and every day.
Another area identified in the budget that would have a significant impact on my community of London North Centre is support for seniors. The government has committed to increasing the guaranteed income supplement top-up by up to $947 per year. This change would help 900,000 of the most vulnerable seniors. Four in five seniors in Canada live on low incomes and live alone.
The government will also help seniors by repealing section 2.2 of the Old Age Security Act, which increases the age of eligibility to receive this benefit.
We are also leaving in place pension income splitting. There has been much confusion surrounding this topic in my community. However, the government is committed to helping seniors with their finances. We know that they have worked hard their entire lives, and the government has a responsibility to ensure that they are not placed into a vulnerable financial situation. We are therefore aiming to ensure that during their retirement years Canadian seniors are given the sense of security, dignity, and comfort they deserve.
I am proud to have a strong contingent of Canadian veterans in London North Centre. Since being elected this past October, I have met with many of them at various events throughout the city and at meetings in my office. The amount of respect I have for their courage, patriotism, and sacrifice cannot be properly expressed in words. The freedom we enjoy today to have debates such as this in the House of Commons is because of the incredible sacrifices made by our veterans. As such, the government has a sacred obligation to ensure that these individuals have access to the programs and services they require. We owe them our sincere gratitude and respect. We must work to ensure that there is a relationship built on trust and collaboration.
With that in mind, the government will make changes to the Canadian Forces Members and Veterans Re-establishment and Compensation Act. These changes have been initiated due to concerns expressed by the government, the veterans ombudsman, Canadian Armed Forces members, veterans, and other stakeholders. It has been indicated that veterans who have been seriously disabled are not guaranteed financial security with the benefits currently in place. Therefore, those Canadian Armed Forces members and veterans who have severe and permanent service-related disabilities will see an increase to their benefits. This is a change that I think we can all be proud of in the House and beyond.
Before being elected to represent the community of London North Centre, I taught at King's University College at Western University. During that time, I watched the number of students who were struggling to make ends meet rise each year. I instructed students who were extremely intelligent, compassionate, and driven young people. However, they were graduating university with a crushing amount of student debt. These students worried about how they would pay back the money they owed, and it was becoming increasingly difficult to find meaningful work. This type of stress and burden is not what we want for our younger generation who have just finished post-secondary education and are looking to make important contributions to the workforce.
With that in mind, I am pleased that budget 2016 will help students from low and middle-income families by making post-secondary education more affordable. In addition, the government will establish a system that makes it fairer and easier for students to repay their debt. I am pleased to see that students will not have to make any repayment on their Canada student loans until they are making at least $25,000 per year.
However, the help for students will not stop there. This budget has also made investments to ensure that young Canadians can earn extra income, gain experience, and find quality jobs upon graduation. These changes have been lobbied for by Canadian student advocate groups for many years. I have met with these student advocates, and I am glad to see these changes coming to fruition within this budget. Help with student debt, providing access to funds to help with the rising costs of post-secondary education, and providing more opportunities for employment while in school and following graduation are measures we can all be proud of. The budget addresses these requests.
Finally, I have received a great deal of correspondence in my office asking that necessary steps be taken by the government to ensure more tax fairness in Canada. Constituents have told me that they are more than willing to pay their taxes and follow the rules. However, they want to ensure that all Canadians pay their fair share. They currently feel as though there are two different sets of rules in place.
With that in mind, it is exciting to see budget 2016 taking significant steps to ensure tax integrity and tax fairness for all Canadians.
I look forward to the debate on the budget to follow.