Mr. Speaker, since the beginning of the pandemic, Canadians have been called upon to take extraordinary measures to ensure the safety of all. We have been in an emergency situation that has required large-scale lockdowns and closures, which have threatened the ability of millions of Canadians to work and thousands of businesses to continue operating.
In response to this extraordinary situation, our government has taken unprecedented action thanks to the collective effort of so many people working tirelessly to help their fellow citizens. We have put in place a comprehensive package of measures to help workers and businesses across the country meet these challenges.
We saw neighbours helping neighbours, frontline workers who did double and triple shifts to keep our communities safe, and people who retooled their entire business lines to produce protective equipment for frontline workers and Canadians in need. In this time of historic commitment to helping others, our government was there to ensure that Canadians, their families, their businesses and their communities would be supported through the worst.
Our income and wage support programs, along with rent subsidies, made it possible for households to support their families. Those programs also enabled millions of Canadians to keep their jobs and hundreds of thousands of Canadian businesses to keep operating during the darkest days of the pandemic.
Thanks to robust public health measures, vaccination rates are high and the child vaccination campaign is moving along quickly. Grandparents and others who need it are receiving their third dose, the booster dose. Our health care system is finding better and better ways of dealing with the virus.
While the recent emergence of the omicron variant of COVID-19 is cause for concern, there is still reason for cautious optimism that we are turning the corner in the fight against this virus and seeing better days. Thanks to the hard work of Canadians, we are approaching the last mile of this long and difficult journey.
On the economic front, the recent OECD December 2021 economic outlook confirmed that Canada is still expected to have a strong recovery relative to pre-pandemic levels of GDP, ranking the second-fastest among G7 economies by 2023. Of the three million jobs that were lost at the peak of the crisis, all have now been recouped, faster than after any other recession. This has been possible because of the supports we provided. They prevented unnecessary increases in insolvencies and kept Canadians and Canadian businesses largely intact. They limited economic scarring and laid the foundation for a strong recovery.
In my riding of Edmonton Centre, I spoke with the now third-generation owners of Kunitz Shoes. The owners live in my riding. It is a third-generation shoe store on Jasper Avenue. It was going to go under, but because of collaboration with other business leaders in the community and due to the supports that we had in place, Kunitz Shoes is now thriving and back on its feet, if members will excuse the pun. The owners told me that they paid taxes, in their case for over 60 years, with the expectation that when they needed it, the government would be there for them. They said it had never happened in the history of the company, but it happened in the past year. The government was there for them, and they thanked me and my colleagues for that.
In short, the government took action and it worked. Canadians and most parliamentarians supported this unprecedented spending because they understood that it was not only the compassionate thing to do, but also the economically smart thing to do. Our government strongly respects that Parliament plays a key role in enforcing this accountability, and I would like to recognize all members participating in the committee of the whole tonight for their role in this regard.
The Department of Finance has also played a key role in enforcing this accountability through its budgets, fiscal updates and reports to Parliament, and it will continue to do so. Further to this goal, as the Deputy Prime Minister and Minister of Finance has announced, the government will be providing an economic fiscal update on December 14.
Through these supplementary estimates, the government is seeking parliamentary approval for $8.7 billion in new voted spending. These planned expenditures would support Canadian priorities with infrastructure and services to address the specific needs of indigenous communities, the government's ongoing response to the COVID-19 pandemic, and supporting access to COVID-19 vaccines, therapeutics and diagnostics in developing countries.
In fact, approximately $1.2 billion of the proposed voted spending in supplementary estimates (B) is for the government's ongoing response to the COVID-19 pandemic. I do not think it would be an exaggeration to say that Canadians are counting on this funding to protect their health and well-being.
However, Canadians are not just counting on us to invest in their health and well-being. Canadians need and want good jobs with fair wages and clear rules. Therefore, we need to make sure that businesses, especially small businesses, have the support they need. That is why we have introduced Bill C-2 in Parliament.
Among other things, the bill would extend the Canada recovery hiring program until May 2022 at an increased 50% subsidy rate. This would encourage businesses to continue to rehire workers, increase their hours and create additional jobs that Canada needs for a full recovery from the COVID-19 recession.
That said, the government is also aware that some businesses are unable to resume all their activities and create those jobs because of the public health measures that, as I said, are necessary to protect Canadians. We are therefore proposing in Bill C-2 two new support programs targeting specific types of businesses in order to promote economic recovery. In both cases, the businesses must show that they experienced significant revenue declines during the first 12 months of the pandemic as well as the current month.
I will start with the tourism and hospitality recovery program, which will help hotels, restaurants and travel agencies, which are still grappling with public health restrictions and the fact that people are travelling less because of the measures in place.
The Canada emergency wage subsidy and Canada emergency rent subsidy rate for these businesses will be 40% for those with a current-month revenue loss of 40%. The rate would increase in proportion to this revenue loss up to a maximum of 75%.
This legislation is key to getting us to the end of this pandemic and it is unfortunate that our colleagues in the Conservative Party and the NDP are voting against it. Make no mistake: This support will be crucial to getting our tourism sector back on its feet. I spoke with many leading tourism operators and businesses at the Tourism Industry Association of Canada's conference here last week and I can say that they are emphatically asking and demanding that everyone in the chamber support Bill C-2.
Since taking on the role of Minister of Tourism and Associate Minister of Finance, I have been moved by the passion of those in the tourism sector for the work that they do. These are the people who tell our story to the world and they are the people who are going to inspire people from around the world to come and fall in love with Canada.
At this moment, this industry is reeling from the body blow of this pandemic. Revenue has declined almost 50% from 2019 levels. Jobs directly attributable to tourism decreased 41% from 692,000 to 409,000 in the same period.
However, even with these challenges, Canada’s tourism sector is moving forward, and our government recognizes the vital role that tourism plays in providing employment and opportunities for small and medium-sized businesses and further fuelling economic growth. In short, our economy will not fully recover until the tourism sector recovers. With government support, businesses in this sector are starting to get ready to welcome Canadians back to experience the great places and activities this country has to offer.
This support includes the measures introduced in budget 2021 to support the tourism sector, totalling $1 billion over three years. This includes $500 million over two years flowing through regional development agencies to help our hard-hit tourism businesses adapt their products and services and invest in future growth.
This also includes $200 million through the regional development agencies to support them and help ensure that Canada continues to draw millions of visitors from all over the world to our large arts and cultural festivals and major events.
I have to thank the former tourism minister, who is now the Minister of Foreign Affairs, and the entire government for their foresight and for including all of these measures in budget 2021.
Our government will continue to ensure that Canadians are informed of the details of not just our spending, but of all the investments that we have made to protect and support Canadians in the fight against COVID-19. A full recovery will take time, but we are committed to doing what it takes to finish the fight against COVID-19, to speed up the recovery, and to lay the foundation for years of strong, sustained growth.
As we continue to gain ground in this fight, our support for Canadians is becoming more targeted, ensuring that help is being focused on those who need it the most.
Help is here and hope is on the horizon.