Madam Speaker, I wish you a happy 2021.
I am pleased to be able to speak today about Bill C-14, an act to implement certain provisions of the economic statement tabled in Parliament on November 30, 2020 and other measures.
Bill C-14 is an essential step to implement measures from the fall economic statement that would provide assistance to families with young children, support students and invest in resources to protect the health and safety of Canadians as we continue our fight against COVID-19.
Canadians have been hit hard by the pandemic in the past 10 months. Whether financially, physically or psychologically, everyone has been affected by COVID-19 one way or another. Nearly 20,000 Canadians have died from the virus. Hundreds of thousands of Canadians have lost their jobs and much of their family income because of the closure of countless businesses. People are also suffering mental health problems like never before in our lifetime as a result of isolation.
Our government has done its best to be there for Canadians through it all. Among the measures that are included in this bill is an increase to the Canada child benefit, referred to by its acronym, the CCB, for low- and middle-income families, totalling up to $1,200 in 2021 for each child under the age of six. We know that it is expensive to raise a child, and doing so during such uncertain times can be extremely stressful. The price of groceries and other necessities has gone up.
It is important for us to support families by giving Canadians who are raising small children, and who need it most, a boost. I know that many of the families in my riding will be benefiting from this measure. The total increase in the CCB payments will amount to about 20% of the maximum annual payment, and this measure will benefit 1.6 million families and 2.1 million children in Canada.
Data show us that young people are the ones hardest hit by the COVID-19 job losses in Canada. It is more difficult now for young Canadians to get a good job in their field after they graduate than it was before. That is why our government has tried to find new and innovative ways to support young Canadians by creating opportunities for them to gain relevant work and volunteer experience.
Additionally, thanks to Bill C-14, we will be able to ease the financial burden of student debt during the recovery for up to 1.4 million Canadians by eliminating the interest on repayment of the federal portion of the Canada student loans and Canada apprentice loans for the year 2021-22. This measure will bring $329.4 million in relief to Canadians who are looking for work or who are otherwise in the early stages of their careers.
As I mentioned before, our economy was hit hard by the lockdowns in various provinces. Small businesses such as restaurants and local shops have been severely affected by the public health measures, yet many are doing their best to stay open and keep their workers on the payroll.
Fortunately, thanks to the co-operation of all of the members in the House and our government's initiative, we have succeeded in helping numerous Canadian businesses since the start of the crisis. The wage subsidy and the original rent relief program known as Canada emergency commercial rent assistance for small businesses helped companies survive until the summer, when they were finally allowed to reopen. However, the program had its problems. Not all businesses were able to benefit, since they had to rely on their landlord to apply to the federal government.
At the time, many businesses in my riding had reached out to me to let me know that this was not working for them because their landlords were not willing to help them. The government came back with a better program that allowed businesses to apply directly for rental assistance. Bill C-14 will allow even more flexibility to help businesses during their most difficult moments, as it formally provides that an expense, such as rent, can qualify as an eligible expense under the new Canada emergency rent subsidy when it becomes due, so businesses can access the subsidy before the expense is actually paid.
More importantly, Bill C-14 will give the government additional funds to help Canadians get through the pandemic and return to normal as quickly and effectively as possible.
Since many Canadians have been living in isolation for the past 10 months, some of them have developed mental health issues. For many of them, it has become a major problem. Furthermore, many family doctors are not seeing patients in person right now, instead offering services by telephone or video conference because that is safer for everyone.
In an effort to provide them with the best support possible, in this bill, our government will invest $133 million to improve access to virtual care, mental health tools and substance use programs in order to help those who, in addition to trying to survive COVID-19, are struggling with addiction and fighting for their mental health as well as their overall health.
Additionally, Canadians can expect, and they do expect, their government to invest in a way out of the current reality we are living in. They want the vaccines to come quickly so we can return to normalcy and our businesses can begin to reopen. Thanks to measures already put in place, our government has been able to invest millions in testing, medical research, vaccines and more.
Bill C-14 would provide the government with up to an additional $262.6 million for a suite of COVID-19 initiatives, including testing, medical research, countermeasures, vaccine funding and development, border and travel measures, and isolation sites for those returning Canadians.
Bill C-14 would allow our government to continue making the necessary investments to weather the pandemic and support the economic recovery. Now is not the time for austerity. It is time to invest the amount we need to in order to get Canadians out of the situation they are in, a situation that everyone is tired of and that is taking a major toll on all Canadians.
It is time to invest in vaccines. It is time to invest in ensuring Canadians have what they need to get through this difficult time.