Madam Speaker, I would like to start my speech today by congratulating my former colleague, the hon. Judy Foote, on today's announcement. She has been named the next Lieutenant Governor of Newfoundland and Labrador. On behalf of all the Newfoundland and Labrador caucus and all Newfoundlanders and Labradorians, we congratulate Judy and are incredibly proud of her accomplishments.
I am so pleased today to speak to our 2018 budget, a budget about equality and growth, a budget for a strong middle class. I was very proud when the finance minister tabled his most recent budget because it demonstrated our continued commitment as a government to making decisions for Canadians first and foremost. Budget 2018 is the most progressive and inclusive budget to date, going to great lengths to recognize our strengths as a country, but also to recognize that there is still a lot of work to do as it relates to reconciliation, gender equality, and overall inclusion.
I want to focus my speech today on some of the commitments made in budget 2018 that will have the biggest impact in my riding of Avalon and in my home province.
There is $250 million allocated to the Department of Fisheries and Oceans' small craft harbours program. I cannot begin to express how thrilled I was to see this commitment in budget 2018. All but one community in my riding is bound by the ocean. They are coastal communities that depend on the commercial fishery, not just economically but also culturally. Small craft harbour facilities in Avalon are essential to the fishing industry and indeed this goes for small craft harbours across the country.
This investment means that facilities that are in desperate need of repair and those needing expansion can get the work done and make sure that our fishers are safe and protected before they even go out to sea. I know many of my colleagues across the country will join me in applauding this critical investment for rural and coastal communities.
Furthermore, budget 2018 allocates $21.6 million over two years to renew the sustainable aquaculture program. As we know well in Newfoundland and Labrador, aquaculture is an ever-growing industry and is becoming more important and popular every year. We know that making sure aquaculture is done safely and sustainably is incredibly important to the health of our wild fish stocks and ultimately of Canadians. Investing and continuing to invest in this program means that those in the aquaculture industry can continue to keep their farmed fish well contained and invest in research for best practices for the future.
In the 2018-19 fiscal year, there will be $58.2 million in new funding for the Atlantic fisheries fund. I was with my colleagues in Newfoundland at the marine institute when our government announced the Atlantic fisheries fund, and the response to this fund has been astounding. I have personally had conversations with fishermen in my riding who have recently applied for and received funding through the AFF, and they are all so thrilled with what this funding could mean for them and their enterprises.
This is probably one of the only times that individual fishermen have been able to apply for their own federal funding to invest in innovative equipment that will make their jobs easier and safer, now and into the future. Stimulating the fisheries in Atlantic Canada, an industry that has been suffering recently, there is no question, is so critical for the vitality of rural coastal communities and the people that live in them, like many of mine in Avalon. I did not thank the Minister of Fisheries and Oceans, but I certainly will for his continued faith in and consideration of our fishers.
Canadians look to the government to make strategic decisions and move forward on projects that will benefit them and their neighbours today and well into the future. Canadians were vocal in their support of a national pharmacare program and to see the announcement in budget 2018 that our government will be moving forward on this initiative with an advisory council was fantastic. We know that taking on a project of this size and importance will require a lot of work and research so that we can get it right for Canadians. I am very excited to follow the work of this advisory council as it discovers which pharmacare plan would be the best for our country in the future.
When I was elected in 2015, I quickly learned the value of the regional development agency in Newfoundland and Labrador, ACOA or the Atlantic Canada Opportunities Agency. ACOA is a vital resource for local businesses, community organizations, and innovators in my riding. Since being elected, I have seen many groups thrive thanks to ACOA funding. That is why I was thrilled to see that in this budget we have continued investment in the agency, with an additional $48 million, $8 million of which our government has earmarked specifically to support women entrepreneurs. I am sure that not only my constituents but the constituents of many of my colleagues across Atlantic Canada are thrilled to see this commitment to support women in business. I believe that this builds on our government's promise to work toward gender equality and giving women more opportunities to achieve this goal.
Investing in female entrepreneurs is not the only way that budget 2018 has committed to giving women the opportunities they deserve to thrive in today's workforce. This budget commits to a new parental sharing benefit that will give an extra five weeks of parental leave to new parents, provided that both parents share that leave. This is a revolutionary change as it incentivizes moms and dads, women and men to share the responsibility of maternity leave, giving women the opportunity to get back to doing what they love and are passionate about earlier.
On this side of the House, we know that women are a force and strength in the workplace. They are leaders and innovators, have incredible minds, and are assets to any company or department. Simultaneously, we know that men can be compassionate and loving fathers who want to be a part of their children's early days just as much as moms do. That is why this new parental sharing benefit not only recognizes the value that both women and men have as employees but also as parents, giving them both equal opportunities at home and at work. We believe that our children are better off when they learn, grow, and develop alongside both of their parents equally. Each of us in the House knows family members, friends, or constituents who would have loved to avail themselves of this kind of opportunity for their kids. With this new benefit, we will have stronger families, kids, and workforces.
I know many of my colleagues would agree with me when I say I could go on and on in the House today speaking about budget 2018. The continued investments are welcomed by me and my constituents, as are the new initiatives announced by the finance minister last month in this budget. The budget is proof that our government is investing and making decisions with the best interests of Canadians in mind.
I want to thank the finance minister and the Prime Minister for ensuring that the middle class and our most vulnerable Canadians are at the heart of this budget and all decisions made by this government.
I am proud to stand in support of equality and growth for the middle class, and in support of this 2018 budget.