Mr. Speaker, I will be splitting my time with the hard-working MP for Ottawa West—Nepean.
I am pleased to rise today to talk about Bill C-74, the budget implementation act. This budget is focused on one principle, and that is to make sure everyone has a fair chance to succeed and realize his or her dreams. The government's focus has been to bring down barriers that are holding our economy back and to make sure our economy grows in a way that makes middle-class families stronger.
I am proud to share the news of that success with the House today. The numbers are clear. Our economy is growing and families are getting stronger.
Over the last two years, our economy has started to grow faster than the entire G7. More than 600,000 jobs have been created, and the unemployment rate is down to a nearly 40-year low. Middle-class Canadians are feeling better about their future, whether they want to pay down debt, save for their first home, or go back to school to train for a new job. We are proud to support them by making smart investments in the things that are important.
We raised taxes for the top 1% so that we could lower them for middle-class families.
Through the Canada child benefit, we also increased support for nine out of 10 families, putting more money, tax-free, in the pockets of parents for them to spend on things that they need.
There is still a lot more to do to make sure that the benefits of a growing economy are felt by more and more people, and that is why we are taking action through budget 2018 to do that.
We are creating opportunities where every Canadian has a real and fair chance to work and to succeed, and that includes Canada's hard-working women. By reducing the gender wage gap and increasing the participation of women in the labour force, we are growing the economy in a way that helps all Canadians. A recent Royal Bank study estimates that if women participated in our workforce at the rate men do today, we would boost the size of Canada's economy by 4%, which is equivalent to $85 billion.
We also need to make sure that those currently working are supported and able to keep more of their hard-earned money in their pockets. That is why budget 2018 introduces the Canada workers benefit, a new tax benefit that would put more money in the pockets of low-income workers. That is real help to more than two million Canadians who are working hard to join the middle class. Low-income workers earning $15,000 could receive almost $500 more from the Canada workers benefit in 2019 than they would have received in 2018. Altogether, these actions mean almost $1 billion of new support for low-income workers under the Canada workers benefit.
Like the Canada workers benefit, the Canada child benefit is a key part of our plan to strengthen the middle class and help the people who are working hard to join it.
During the first benefit year, over three million families received more than $23 billion in Canada child benefit payments. Nine out of 10 families are receiving on average almost $2,300 more in benefits, tax free.
In my riding of Surrey—Newton, every month more than $8 million dollars are delivered to families that need it the most. This money helps pay for day care, food, and so many other supplies that are critical to healthy and happy families.
Budget 2018 also reflects the priorities of Surrey—Newton by making investments in building more affordable housing, tackling the issue of guns and gangs, building more transit, and cutting small business taxes.
To make our streets safer, we are investing over $300 million over the next five years and $100 million a year after that to bring together all levels of government to increase intelligence of illegal trafficking, border security, and support for police.
However, we also need to support those needing treatment. That is why we are investing over $230 million over the next five years to work with provinces to expand programs that provide treatment and support to those with addictions.
We are also making historic investments to build rapid transit across Canada. For British Columbia, we have committed $4.1 billion that will bring more buses and build rapid transit in Surrey.
We are also cutting taxes for small businesses from 11% to 9%. This will save small businesses money and keep Canada competitive.
Surrey attracts thousands of young families and new Canadians every year. They bring with them their hard work, willpower, and innovative ideas and start-up businesses to help achieve their dreams. We want to support them. I started my small business in Surrey because I knew how great a place it was. I am very proud and delighted to raise my family and run my business in Surrey—Newton.
These are some of the smart investments that are going to make a real difference to all Canadians by giving them the tools, support, and opportunities to reach their full potential and realize their dreams. Budgets are about choices. Do we invest in our future or make cuts? How do we support the middle class? How do we work to make Canada a prosperous and strong nation where every Canadian can fulfill their dreams?
I proud we made the choices that invest in making families stronger, furthering equality, and building infrastructure that support Canadians and future generations. If people work hard, they deserve a fair chance to succeed. It is our job here to eliminate the barriers that stand in the way of that. I am proud that budget 2018 makes that progress.
The equality, freedom and justice of our country is what the world looks to. We need to keep on ensuring we do everything we can to maintain that level so we remain a model and true leader in the world for equality.