Madam Speaker, I will be splitting my time with the hon. member for Bourassa.
I am honoured to stand in the House to discuss budget 2017 and its potential impact on my riding of Richmond Hill. This year's federal budget follows in the footsteps of budget 2016 and offers a road map to individual prosperity for Canadians and to economic success for Canada. This budget provides detailed provisions as to how the Liberal government has listened to Canadians and is taking action to make the necessary financial commitments that will ensure that each and every Canadian has a real and fair opportunity to improve their lives.
I will focus my remarks today on four key areas. First, I will highlight how budget 2017 provides new opportunities for Canadians, including our youth, to strengthen existing skills, to develop new ones, and to build a qualified workforce of the future, while also providing our seniors with the ability to sustain a better quality of life.
Second, I will explain how budget 2017 encourages business innovation and economic progress for Canada.
Third, I will discuss how this budget will provide infrastructure support for the modernization and resiliency of our neighbourhoods.
Fourth and finally, I will describe how budget 2017 provides for more and enhanced home care, mental health services, child care services, and affordable housing for those who need it the most.
With this budget, the Liberal government upholds the promise of progress that will benefit all Canadians. On the topics of youth and seniors and digital skills, our government will be allocating $50 million over two years so that digital skills trainers can apply to teach digital skills to students from kindergarten to grade 12. This is excellent news, given that the Canadian economy is rapidly changing, and my colleague before me talked about that change. This commitment will prepare individuals, starting from a young age, to gain the proper skills to prepare for the jobs of the future.
Seniors will also benefit from digital skill training, as budget 2017 will provide $29.5 million over five years for a new digital literacy exchange program to support not-for-profit organizations to implement initiatives that teach basic digital skills, with a focus on groups that can benefit from acquiring these skills.
As noted in the 2016 Town of Richmond Hill economic development strategy, youth up to age 24 make up 32% of the population. The population of seniors aged 70 and over was 8%. Together, they make up 40% of the Town of Richmond Hill's entire population. Therefore, 40% of Richmond Hill's population could benefit from the federal funding provided in budget 2017 for digital skills training.
On the business innovation side, another aspect of budget 2017 that would greatly benefit Richmond Hill is the provision of funds to encourage business innovation in Canada. The budget allocates $950 million over five years, starting in 2017-18, to support a number of business-led innovation superclusters that have the greatest potential to accelerate economic growth. By investing in superclusters and also providing the strategic innovation fund, SIF, with $1.26 billion over five years to consolidate and simplify business innovation programming, including the strategic aerospace and defence initiative, the technology demonstration program, and the auto innovation fund, where there is actually an extra $200 million over three years in new funding, our government is leading the way.
Budget 2017 also provides for a venture capital catalyst initiative, with $400 million over three years for late-stage venture capital to young, established businesses with revenues to enhance their operations. Budget 2017 has recognized an identifiable need in our economy, and businesses will benefit from it.
This represents the innovative leadership that the government and budget 2017 delivers for Canadians.
On the topic of infrastructure, budget 2017 provides funding for infrastructure support for the modernization and resiliency of our neighbourhoods and communities. The budget has made a significant investment in public transit projects that would shorten commutes, decrease air pollution, and allow Canadians to spend more time with their families, through an investment of $20.1 billion over 11 years that would be allocated to provinces and transit systems, based on ridership and population.
I am confident that Richmond Hill and York Region Transit will receive a fair share of the funding to put toward local priorities, such as a subway line from Finch subway to the Highway 7 extension for Richmond Hill. This will help a significant portion of my constituency, which will benefit from the expansion of the subway line.
I will now talk about budget 2017's contribution to health care, home care, child care, and affordable housing for Canadians who most need it. I think I speak for all of my colleagues in the House when I say that Canada's publicly funded universal health care system is a source of national pride. It is also an essential foundation for a strong, fair, and prosperous nation.
As of today, the federal government has reached new health funding agreements with 12 provinces and territories that have accepted their share of $11 billion over 10 years to provide enhanced health care for all Canadians, including as well funding for home care and mental health support. Of this funding, $1.9 billion will be allocated in support of mental health initiatives in Ontario. Improving mental health services directly impacts the riding of Richmond Hill, giving support where it is definitely needed. In addition, $2.3 billion will be dedicated to better home care in Ontario, including addressing critical home care infrastructure requirements.
I know this funding will help to break down barriers for individuals, families, and communities, such as mine, that prevent them from receiving better care and reaching their fullest potential.
In addition, the budget allocates $3.2 billion dollars to provinces and territories for a federal-provincial partnership to support affordable housing. This will be helpful to Canada's seniors, persons with disabilities, and to others needing accessibility modifications, helping them to live independently. Furthermore, $5 billion will be invested over the next 11 years for a new national housing fund to address critical housing issues faced by the most vulnerable members of society.
In addition, the government proposes to allocate $7 billion over 10 years to support and create more high-quality, affordable child care spaces across the country. I know many hard-working individuals and families in my riding who can benefit extremely from this funding by making it easier for them to find safe, adequate, and affordable places to live with quality and affordable child care.
Budget 2017 puts people first. It delivers the help that Canadians need. It is an essential step to restoring prosperity to Canada's middle class. It provides new opportunities for our youth and seniors by equipping them with skills that they need. Budget 2017 encourages job creation, entrepreneurship, and business innovation. The budget also provides much-needed assistance for infrastructure. It also supports more and better home care, mental health support, child care support, and affordable housing for all Canadians.
I am proud to stand behind budget 2017. It is the right road map for our country and the efforts of our government to restore prosperity to the middle class.