Mr. Speaker, last year the Minister of Transport presented his vision for the future of transportation in Canada, also referred to as transportation 2030. This vision reflects thorough consultation with Canadians, stakeholders, provinces and territories, indigenous groups, and academics, following the release of the final report on the Canada Transportation Act review, also known as the Emerson report.
Transportation 2030 is made up of a series of initiatives under five themes: the traveller; safe transportation; green and innovative transportation; waterways, coasts, and the north; and trade corridors to global markets. These themes encompass various modes of transport and allow the government to take a holistic approach in ensuring the transportation system is equipped to support our broader priorities.
Canadian travellers and their experiences are top of mind for our government. During consultations conducted by the Minister of Transport, we asked Canadian travellers for their feedback, and they were clear. They want lower-cost air travel, more opportunities for leisure and business travel, and they want to see Canada become a more attractive travel destination for visitors. Canadians told us that they want long-term sustainable competition, which will allow for the introduction of additional air services, improved air connectivity, and more choice.
The government has listened, and it is committed to achieving tangible improvements to the traveller experience. As a result of the feedback we received, a number of proposals have been introduced in Bill C-49 to help improve the traveller experience. For example, the government intends to liberalize international ownership restrictions for Canadian air carriers. What does this mean for Canadian travellers? Allow me to briefly describe this initiative.
The legislation proposes to liberalize international ownership restrictions from 25% to 49% for Canadian air carriers, with associated safeguards. For example, a single international investor would not be able to hold more than 25% of the voting interests of a Canadian air carrier, and no combination of international air carriers could own more than 25% of a Canadian carrier. The policy change would not apply to Canadian specialty air services, such as aerial photography or firefighting, which would retain international ownership levels at 25%. Liberalizing international ownership restrictions means Canadian air carriers—and this includes all passenger and cargo providers—would have access to more investment capital that they can use for innovation. This would bring more competition into the Canadian air sector, providing more choice for Canadians, and generating benefits for airports and suppliers, including—