Debates of April 22nd, 2021

Financial Statement of Minister of Finance

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Liberal, Alexandra Mendes]

The hon. member for Edmonton Strathcona.

[Heather McPherson, NDP, Edmonton Strathcona, AB]

Madam Speaker, one of the questions I had when I looked through the budget was that I did not see the support for the Prairie provinces that I wanted to see. The member will know that Alberta was in a really dire situation before the pandemic, and that unemployment is something that is facing us. I did not see a commitment to diversifying our economy or making sure that there were forward-facing job opportunities for Albertans and all the Prairie provinces.

What investments would the member have liked to see in our Prairie provinces to make sure they have the opportunity to have jobs and a good future economy?

[Corey Tochor, Conservative, Saskatoon—University, SK]

Madam Speaker, the member is right that Alberta and Saskatchewan were ignored and this is no surprise. For the last six years, there has been abuse in my region. It has been on the stinky end of the stick from the Liberal government. If we are talking about getting our economy rolling again, we need to get pipelines. We need to get our resources to market. We need to build the economy of the future without—

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Liberal, Alexandra Mendes]

The hon. member for Montmagny—L'Islet—Kamouraska—Rivière-du-Loup.

[Bernard Généreux, Conservative, Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC]

Madam Speaker, today we are talking about the 2021 federal budget. This is the Liberals' first budget in two years.

I have to say that, sadly, this does not bode well for future generations. In addition to about $400 billion in unbudgeted spending over the past year, this budget includes another $150 billion in red ink for the year to come. Moreover, if everything is okay in five years, the government is projecting a more modest $31-billion deficit for 2025-26. On Monday, Radio-Canada described that as pretty close to balancing the budget.

They seem to have lost sight of the value of money. They do not know the difference between $1 and $1 billion. This is nothing like Liberals' fiscal rigour under Jean Chrétien. It does not even come close to what the Liberals under the current Prime Minister promised when, in 2015, the Liberal Party leader projected three small $10-billion deficits and a balanced budget by 2019. Let us not forget that.

I understand, of course, that the pandemic has created the need for temporary support programs to get through this crisis, programs that we have supported and even helped improve many times over the past year. However, that does not explain this orgy of spending, this $101 billion in new spending that is not all related to the pandemic and that, once in place, will be here to stay. A government program is the closest thing to eternal life on earth. It does not actually exist.

Worse still, we learned that the budget, presented in the House of Commons on Monday, was already outdated the next day. The Prime Minister came out and said he would increase health transfers— something the provinces and the opposition parties have been calling for—right after the pandemic. Either the Prime Minister thinks the pandemic is going to last until 2025, or he has not included the increases to health transfers in his spending. This will inevitably add to the deficit after the pandemic.

We also want to act on the request made by the provincial premiers. Ideally, it would be unconditional, because health services are entirely under provincial jurisdiction. The only problem is that the amounts requested are nowhere to be found in the budget.

This budget is an 725-page brick, a half-baked document that the government took two years to complete. It was presented less than 48 hours ago, it has not even been voted on yet, and we already know that the figures for the next five years will have to be modified because the government did not have the foresight to include an amount for health transfers.

I have a feeling that many other amounts will have to be added or modified after seniors aged 65 to 74 begin complaining because they just learned that the announced increase in OAS applies only to those aged 75 and over. This is a measure that involves increasing the pension by 10% next year, but also offering a one-time $500 payment this year, just before the election. In fact, there is a good chance that an election will be triggered in August.

This issue was met with public outcry in my riding, including from Ms. Bélanger in Saint-Jean-Port-Joli, Mr. Fortin in Saint-Aubert, Ms. Plourde in Notre-Dame-du-Portage, Ms. Petit in Rivière-du-Loup and Mr. Saint Pierre in Sainte-Anne-de-la-Pocatière. These people and many others have called me since the budget was tabled, and they are very angry.

The government's discrimination against younger seniors, a group I will soon be a part of, shocked the people at the Fédération de l'âge d'or du Québec, the FADOQ, and other seniors' associations across the country. I would not be surprised if the government eventually had to put things right by raising the pensions of seniors between the ages of 65 and 74. The $12 billion could potentially grow to $24 billion or $30 billion. Once again, the projections in the budget are obsolete.

The budget does not contain more money for the third link in Quebec City or the extension of Highway 20 to Rimouski. If the government is so willing to go into debt and extend the deficits for years and even decades to stimulate the economy, in can at least build something of use for future generations.

We also had to run deficits under the Harper government. Members will recall that deficits were necessary during the 2008-09 crisis. However, the money was used in large part to support our communities by building and renewing infrastructure, which would serve and continues to serve Canadians.

In 10 or 20 years, what will the Liberals' legacy be to justify all these billions of dollars of borrowed money?

After the budget was tabled, we made a troubling discovery. By 2022-23, the deficits that the Liberal government has been accumulating since 2015 will have exceeded the eye-watering sum of $662 billion. That is more than the $630 billion in total debt accumulated by all other prime ministers combined since Confederation. The debt has doubled in the span of eight years. It is unbelievable, and it makes no sense.

Did Canada's GDP double in eight years? Did all Canadians' wages double in eight years? Obviously not. The Liberals just do not get it.

Despite mismanaging its own programs, the Liberal government now wants to get into child care, which it announced a long time ago but never did anything about.

I have nothing against day cares. The shortage of day care spots is a problem for many young mothers in my riding. However, child care, like health, is an area of provincial jurisdiction.

I am certain that the two provincial representatives in my riding are doing everything they can to improve access to child care services in these difficult times. In Quebec, we made the political choice to implement universal access to subsidized day care, and we pay for it with provincial income taxes. As everyone knows, nothing is free. This was a choice we made as a society. Quebeckers agreed to pay more income tax to support young families.

I would like to point out that, in Quebec, individuals pay 15% income tax on the first $45,000, compared with British Columbians, who pay only 5% provincial income tax on the first $42,000. In the next bracket, $84,000, Quebeckers pay 20% of their income to Quebec City, while British Columbians pay only 7.7% of their income to Victoria. That is a difference of 10% to 12%, which is enormous.

I will ask the government this: Why should Quebeckers take on 23% of the new debt? The $30 billion that the Liberals intend to invest in child care will be funded entirely through deficits. Quebec already has a child care system. That means that we will be paying twice, through our income tax, each year. Since the Liberals cannot restrain their centralizing federalist tendencies, we can also expect any transfers or compensation to be subject to the federal government's conditions.

Clearly, today's Liberals are far from being able to manage public funds as well as they did under Jean Chrétien and Paul Martin. Who would have guessed that a Conservative member would ever say such a thing? I have no choice but to admit that some Liberals did do a good job of managing this country.

This budget is a huge, 739-page campaign brochure that is not intended to get the country back on a solid foundation for the future, but to trigger an election and promise something for everyone. Canadians, especially the young Canadians who will have to pay for all of this, are not fooled by this attempt to buy Canadians' votes with their own money.

Two days ago I was shocked by the Liberal budget and I still am. For two days, I have been getting endless phone calls, email and text messages. People in my riding cannot understand why the government chose to run such huge deficits. These deficits were racked up before the infamous pandemic. Mr. Trudeau did not keep his promise. That is the first thing that needs—

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Liberal, Alexandra Mendes]

I remind the hon. member not to refer to sitting members by name.

[Bernard Généreux, Conservative, Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC]

Madam Speaker, I apologize. It was a slip of the tongue.

I was saying that people in my riding cannot understand the current Prime Minister's deficit policy. Our children and grandchildren will have to pay for it.

The Prime Minister once said that the budget will balance itself, which is unbelievable. A budget cannot balance itself. We have to work to make that happen.

[Louise Charbonneau, Bloc, Trois-Rivières, QC]

Madam Speaker, like my female colleagues, I would like to point out that this is the first budget tabled by a woman. I am happy about that, because it shattered the glass ceiling.

I was very happy with the member's presentation, because it felt like we had one more Bloc Québécois member on the floor. In fact, his point of view is identical to the Bloc Québécois' stance on health transfers and the situation of seniors aged 65 and over.

Is my colleague aware that, by voting against the health transfers yesterday, the Conservative Party was inconsistent and showed a lack of long-term vision regarding the positive impact of these transfers on the economy? I took the liberty of paraphrasing my colleague from Beauport—Limoilou.

[Bernard Généreux, Conservative, Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC]

Madam Speaker, I would like to thank my colleague for her question.

I agree that the fact that this budget was presented by Canada's first female Minister of Finance is a huge step forward for Canada and for all Canadian women.

That being said, we Conservatives definitely agree that the health transfers must be increased unconditionally. We also agree that there should not be two classes of seniors, those aged 65 to 74 and those aged 75 and over. That is completely illogical.

However, the reason the Conservatives voted against the Bloc Québécois' amendment to the amendment is that it gave the provinces and territories free rein to spend the money any way they wanted, without regard for financial responsibility. The Bloc Québécois can promise the moon, but we know they would never be able to deliver.

[Alexandre Boulerice, NDP, Rosemont—La Petite-Patrie, QC]

Madam Speaker, I would like to thank my colleague for his speech. I will address his concerns about a balanced budget.

Looking beyond the necessary spending and investments, the NDP noticed that this budget contains some of our own ideas, including a universal affordable child care program.

We also need to look at the revenue column, something the Conservatives rarely do. Does my colleague agree that web giants like Amazon should pay taxes and that there should be a wealth tax and an excessive profits tax?

[Bernard Généreux, Conservative, Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC]

Madam Speaker, I thank my colleague for his question.

We have always agreed that people who do business in Canada should pay their fair share of taxes. This is a good principle that applies to all Canadians.

My colleague is correct in saying that, in accounting, there is a right-hand column and a left-hand column. The problem with the Liberals is that they only pay attention to the spending, not the revenues. The budget says nothing about revenues, so we find only spending and, of course, deficits, because we do not have enough revenue to balance the budget.

That is unfortunate. The Liberal government will not make any cuts, but it must make responsible decisions at some point to make sure we return to a balanced budget. That is not addressed anywhere in the 664 pages of this budget.

[René Arseneault, Liberal, Madawaska—Restigouche, NB]

Madam Speaker, I would like to salute my colleague, who sat with me for five years on the Standing Committee on Official Languages. We had some good times and did good work.

I heard him speak of his concerns about the budget being extravagant. Without wanting to take a partisan jab at the Conservatives, they are always talking about budget cuts. It is their hallmark. Let us remember that in 2015, the Conservatives wanted to raise the retirement age, the age at which Canadians can start receiving old age security. Today, they are upset that the government increased those benefits for some of our seniors, those aged 75 and over.

Our budget is a win-win solution, because we managed to protect Canada’s economy, which many countries around the world have failed to do. The budget plans for the next 10 to 20 years by investing in our social infrastructure as well as the physical infrastructure.

I would like to hear my colleague talk about budget cuts. During the pandemic, in 2021, what budget cuts would he make and where? In his opinion, where would be the smartest place to make cuts?

[Bernard Généreux, Conservative, Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC]

Madam Speaker, I like my colleague, because he is mischievous and tries to make me say things I would never say.

We Conservatives will not talk about cuts. We will talk about financial and fiscal responsibility. I think there is a very big difference between the two. We cannot keep going at the rate the Liberals are going now and will be going for the next few years.

I would like to point out once again that, in 2015, the Prime Minister said that there would be only three small $10-billion deficits. The reality is that the Liberals have an $80-billion deficit.

[Julie Dzerowicz, Liberal, Davenport, ON]

Madam Speaker, I will be sharing my time with the hon. member for Richmond Hill.

It is an absolute honour for me to rise in the House today to speak on behalf of the residents in my riding of Davenport. I am truly proud to speak on this historic budget. I have so much to say that I suspect I am going to be running out of time.

I want to begin by acknowledging that my riding, which is in downtown west Toronto, like many places in the GTA, is currently under attack by a devastating third wave of this pandemic. There are four postal codes in my Davenport riding that are considered hot spots for COVID cases. I want to pay special tribute to all the essential workers in my riding, who have already spent more than a year working around the clock to save us and keep us healthy. I want to thank everyone who works in a hospital or a long-term care home, working to exhaustion to keep people safe.

I also want to say a huge thanks to everyone who is working to keep us fed, healthy and safe. I thank those who are working in grocery stores, food services, factories and the TTC and doing all the jobs that keep our committees going. I know they face more risks every single day with the variants that are out there and the risks are much greater, so a heartfelt thanks to all of them.

This pandemic has hit us hard not only from a health perspective, but also from an economic perspective. The COVID recession is the steepest and the fastest since the Great Depression. Some people may look at our government's historic, ambitious budget, which invests over $100 billion over three years, and say that we are overdoing it. What I would like to point out, and I know our Deputy Prime Minister and Minister of Finance has pointed this out, is that we learned from our last recession. It took over 10 years for employment levels to fully recover. We know the investments at that time were limited. We have learned our lessons. We are not going to make the same mistake in federal budget 2021. The economic and human costs of inaction are too great.

As I am sure members have heard, because they have heard so many speeches thus far, there are three key sections in budget 2021: conquering COVID, punching out of this recession, and building a better future. I will touch very briefly on the first two but spend most of my time on the last section and how we are building back Canada better.

With respect to the first part, conquering COVID, as the current third wave is showing us, we are not done with COVID. To conquer the virus, the federal government needs to continue to do whatever it takes for as long as it takes to keep Canadians safe, healthy and supported, and federal budget 2021 has allocated even more funding to extending supports to workers and benefits. We are extending the Canada emergency wage subsidy and the Canada emergency rent subsidy until September 25. We are extending the Canada recovery benefit by another 12 weeks, and we are maintaining flexible EI rules for an extra year until the fall of 2022. Some of the supports taper off a bit in the summer as we expect and hope that our economy will rebound. I know that Davenport workers and businesses can now plan around these supports and know that, as always, our government will be there if they need us. We will have their backs.

On the vaccine front, I am very proud of the fast action of our federal Liberal government early into the pandemic. We have secured contracts for more doses per capita than any other country, and more candidate vaccines. Our vaccine rollout is now third in the G20, behind only the U.S. and the U.K. Around 24% to 25% of our population has been vaccinated with one dose. We are investing a lot to rebuild our own domestic vaccine manufacturing. Budget 2021 proposes over $2 billion more for that, because we know that there is a very high risk that we will need booster shots and maybe even modified vaccines as we move forward, and we want to have the opportunity to be able to create that here in Canada.

Next, I want to talk a bit about punching our way out of this COVID recession. We know that many sectors have been disproportionately devastated by COVID, such as tourism, arts and culture, and the airline industry, among many others. We also know that small and medium-sized businesses have been greatly impacted. We only need to walk along our main streets to see the absolute devastation. Budget 2021 provides quite a bit of support for our small and medium-sized businesses to help them adopt and upgrade their digital technology, rehire laid-off workers and bring on new ones. It provides some special financing that is going to help them to be even better prepared for the challenges and opportunities of the economy moving forward.

In terms of additional supports for many of our hardest-hit industries, I mentioned tourism and festivals and events. There are a lot of events that happen within my own community. We have a huge comedy festival and lots of multi-ethnic festivals, and I know that they will benefit from the $1 billion of additional support that we have put into budget 2021.

I want to give a special shout-out to the arts and culture community in my riding of Davenport. They are huge, vibrant and impactful not only to my local community but to our city and nation. We also have an additional $1 billion of support for the arts and culture sector.

I will devote the rest of time to how we are building back better. There is so much I want to cover, and I will run out of time, but I will do my best to cover the most important elements to the residents in my riding of Davenport.

First is national child care. A lot of people think that downtown, west Toronto is a very wealthy area. However, most of the people in my riding are working-class. There are many working families who are struggling with the highest child care costs in the country. The introduction in budget 2021 of a national child care program will be an absolute game-changer for them. I truly believe that it is the single best thing we can do to restart our economy and to put a solid foundation for our economy for future success. It is going to increase the participation in our workforce that will result in an increase in our GDP. Investing in our kids, investing to ensure that we have full participation is going to be critical for Canada's success in a knowledge and digital economy. Of course, quality early learning and child care will be a great, best possible start for our children. We are setting them up for success early on in their lives.

The next thing I want to talk about are the huge investments we are making on a green recovery and doubling and tripling down on climate action. I will tell members that the number one letter that comes in from Davenport residents outside of anything related to COVID is about ensuring that, as we restart and regrow our economy, we are making sure that we do not stop on our urgent quest to get to net zero by 2050. Our budget commits an additional $18 billion in investments that puts us on track to reducing our emissions by 40% to 45% below 2005 levels by 2030. Our budget actually says 36%, but this morning, our Prime Minister announced that we are actually increasing our ambition to decreasing our carbon emissions to between 40% and 45% below 2005 levels by 2030.

We do have an action plan in place. Mark Carney was saying a couple of weeks ago that Canada is the first of the G7 countries with a climate policy serious enough to make a difference. We are serious about our green recovery, we are serious about moving to net zero and we have a serious plan that is going to ensure that we get there, and now this budget ensures that we have the financial resources to be able to do so.

For workers, we are going to be massively increasing our Canada worker benefit and increasing the federal minimum wage, which is a huge promise of our government and something really important for Davenport residents. We are also extending EI sickness benefits from 15 weeks to 26 weeks, which is something that many of our communities, non-profit organizations and advocates have been asking for. This is going to be a game-changer for those who are seriously ill and do not want to have to think about taking care themselves or making a choice between taking care of themselves and putting food on the table.

There are significant investments in our seniors, long-term care standards and increasing the OAS for those over 75. We also have a lot of investments in youth that I am really proud of. We want to make sure that they are not a lost generation. As well, there is over $18 billion to help support our indigenous people toward reconciliation and righting the wrongs of Canada's past and present.

I will end by saying that we have put a significant amount of money around migrant workers and immigration, which is close to my heart, because I believe that future Canadian economic success depends on a great immigration policy.

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Liberal, Alexandra Mendes]

Questions and comments, the hon. member for Renfrew—Nipissing—Pembroke.

[Cheryl Gallant, Conservative, Renfrew—Nipissing—Pembroke, ON]

Madam Speaker, we have learned over this ordeal how important it is to have self-sufficiency as it pertains to pharmaceutical production, in both research and development.

When Pierre Trudeau was prime minister, he changed the Patent Act and the pharmaceutical companies left. It was our first brain drain within the medical community. Now the Prime Minister has made changes to price controls. He is increasing the price controls and increasing the disincentive for pharmaceutical companies to come and, if they are here, to stay here.

What other changes are going to be made? The government is throwing money at the problem, but what changes are going to be made to attract and retain research and development pharmaceutical companies in Canada?

[Julie Dzerowicz, Liberal, Davenport, ON]

Madam Speaker, it is nice to see the hon. member in the House, looking safe and healthy.

Once we realized we did not have the capacity to be able to produce our own vaccines, we took immediate action to ensure that we were working with our manufacturing and scientific communities to bring our manufacturing up to speed.

I am very proud of the investments we have made, not only last year but also in budget 2021, to ensure that our biomanufacturing capacity comes up to speed so that we will be self-sufficient by the end of this year and will be able to produce booster shots, as well as produce our own vaccines moving forward.

A lot of the rules and regulations around how to ensure we maintain a healthy biomanufacturing industry, in terms of the information, will be forthcoming. That is something that we are working on, and it is important to get it right as we move forward.

[Niki Ashton, NDP, Churchill—Keewatinook Aski, MB]

Madam Speaker, my question is about the failure of this budget to deal with the priority of indigenous housing.

We know that indigenous communities have suffered some of the highest rates of COVID-19. A key factor in this is the housing crisis that exists in indigenous communities, a result of federal neglect over a number of decades.

There is an absolute housing crisis that requires federal investment. Why does this Liberal budget fail to have a strategy for and by indigenous communities when it comes to housing?

[Julie Dzerowicz, Liberal, Davenport, ON]

Madam Speaker, I want to thank the hon. member for her passionate advocacy for our indigenous peoples and for promoting indigenous housing.

One of the sources of pride that I have in our own government is that we are serious about reconciliation, and we are serious about narrowing the gaps between indigenous and non-indigenous peoples. Ever since we were elected, we have put in a significant amount of money to make sure that we are addressing all indigenous issues, from infrastructure to housing to health to governance to entrepreneurship. There is $18 billion additional in this budget.

Jane Jacobs, a great urban thinker who has now passed away, used to say that one corrects the wrongs of the past by making gifts to the future.

This is what we are doing. There is $18 billion more to narrow those gaps for housing, infrastructure and many of those issues, and to advance reconciliation. I am proud of our investments. We are not going to stop until we eliminate that gap completely.

[Elizabeth May, Green, Saanich—Gulf Islands, BC]

Madam Speaker, it is an honour to take the floor to speak to my colleague from Davenport.

I did get up this morning at 5:00 a.m. B.C. time to watch Biden's climate summit, so I will inform my friends in the House that, officially, Canada is a laggard. The United States government has announced it will go to 50% below 2005 by 2030. Our Prime Minister has announced a much weaker target.

I wanted to ask my friend from Davenport if, in reading the budget, since she has been a champion on basic income and her private member's bill, Bill C-273 calls for a guaranteed livable income, she was as disappointed as I was not to see a reference to moving to a guaranteed livable income in the budget?

[Julie Dzerowicz, Liberal, Davenport, ON]

Madam Speaker, I want to say thanks to my hon. colleague for being such an amazing champion, not only on tackling climate change and the environment, but also on a guaranteed annual income.

In terms of a guaranteed annual income, of course I am disappointed. If anything, it has made me even more passionate about continuing to advocate for one moving forward. I will say, though, to—

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Liberal, Alexandra Mendes]

We will have to resume debate.

The hon. member for Richmond Hill.

[Majid Jowhari, Liberal, Richmond Hill, ON]

Madam Speaker, it is my honour and pleasure to contribute to the debate on this historic budget. First, let us acknowledge the history that has been made, as my colleague, the Minister of Finance, is the first female to deliver a budget in our chambers, showing young women and girls across this country that when women lead, we change politics. This is a powerful moment, but is not only a symbolic one. It also reinforces our commitment to support women and youth, along with our commitment to preserving our environment across our nation.

We know that many families with young children have been struggling trying to find affordable child care during the pandemic while they are at work. Women are the backbone of this country and this pandemic alone has shown us how resilient they are. Our government will support women in my riding and across this country with up to $30 billion over five years, reaching an all-time high of $8.3 billion every year permanently to build a high-quality, affordable, inclusive and accessible early learning and child care system across Canada. This will directly improve the lives of over 10,000 families in my riding of Richmond Hill. This investment is a step toward removing barriers that women and young families face. It is a plan to drive economic growth, a plan to increase women’s participation in the workforce and a plan to offer each child in Canada the best start in life.

Make no mistake, this government is committed to supporting families with young children, women and reconciliation with our first nations, Métis and indigenous people. Our government will invest more than $6 billion for infrastructure in indigenous communities, and $2.2 billion to help end the national tragedy of missing and murdered indigenous women and girls.

Furthermore, on the note of moving forward, this pandemic has had an impact on our youth and students from coast to coast to coast. Our government is supporting the future generations of our nation. We have an enormous pool of diverse and talented students, like those in Richmond Hill, who will become doctors, technicians, teachers and even the future members of this legislature. Our budget will help those students across our country.

During this time, we have heard from many students who are burdened by student debt and are struggling to find work. We are committed to ensuring that this pandemic does not derail their futures. This budget will support our students with over $5.7 billion over the next five years to help young Canadians pursue and complete their education, creating 215,000 new job skills development and work opportunities. During the pandemic, our government made a six-month grace period after leaving studies interest free. We will waive interest on student loans for one year and enhance the repayment system so that no student earning less than $40,000 per year will need to make payments on their federal student loans.

In addition, our government believes that our youth are the leaders of not only tomorrow but today. That is why in this budget we will double the Canada student grants, providing additional support for 580,000 students who rely on student loans. This will effectively cover 90% of the average undergraduate tuition in Canada for low-income students. It is crucial that we are equipping our youth with tools and resources for them to succeed, and that is exactly what our government aims to do.

Similarly, as an advocate for the environment myself, I am proud because this government recognizes that climate change is indeed real. We must protect our planet, as we owe that to our children. I have spoken in this House before about how important it is for me to leave behind a planet that is safe for my children. This budget recognizes that investing in green recovery initiatives is the right thing to do. That is why we are proposing a historic investment of $5 billion over seven years in the net-zero accelerator. With this added support, on top of the $3 billion we committed in December, the net-zero accelerator will help even more companies invest to reduce their greenhouse gas emissions, while growing their businesses.

Our government will accelerate Canada's net-zero transformation through innovation, propel clean technology projects, grow zero-emissions technology manufacturing and accelerate investment in clean energy technology.

This is the change for which Canadians like the members of my Community Environmental Council have been pushing. These green investments will allow companies like Tavos Industries, which produces eco-friendly products, and Greenbrain Inc., an organization committed to promoting conservation and sustainability, all of which I am proud to have in my riding, to thrive.

Additionally, our budget will provide up to $8 billion of support for projects that will help reduce domestic greenhouse gas emissions across the Canadian economy.

This is a government that will act on climate change, that will protect the future of our youth and multiple precious ecosystems that span across the country, from the west coast of British Columbia to the northern coast of Nunavut all the way to the east coast Nova Scotia.

This budget is an investment for a healthier society and keeps our promise to our youth, acting on the urgency of protecting our planet. The time to act on health and future of the planet is now.

Last, the budget will provide much-needed economic support to Canadians. The measures I mentioned include increasing our support to families with young children, reducing student debt and investing in a cleaner future. Most important, the budget is an investment in mental health resources, resources that are needed as we move past this pandemic.

The budget includes several notable measures that address the social and economic factors of mental health. Budget 2021 proposes to provide $45 million over two years, starting in 2021-22, to Health Canada, the Public Health Agency of Canada's, the national mental health service standards in collaboration with provinces and territories, health organizations and key stakeholders. This pandemic has taken a toll on Canadians, students, seniors and those working on the front lines. We thank them all. The mental health of Canadians is just as important as their physical health.

Earlier this year this government announced Wellness Together Canada and funding for Kids Help Phone, which we plan to extend. The COVID-19 pandemic has exacerbated existing mental health challenges for Canadians and has increased the number of Canadians in crisis.

Making mental health services easier to access will have substantial benefits for Canadians and help save lives. The mental health of Canadians matters.

In closing, this budget outlines our promise and commitment to a more inclusive Canada, finishing the fight against COVID-19 and healing the wounds left by the COVID-19 recession. It is about creating more jobs and prosperity for Canadians in the days and decades to come.

If COVID-19 has taught us anything, it is that we are all in this together. Canada succeeds when all Canadians can participate in the economic growth and make ends meet. Canadians deserve a government that will put their needs and best interests first, a government that supports women, reconciles with indigenous peoples, supports the future of youth, acts on the urgency of climate change and supports the mental health of Canadians.

Our government does exactly that in the budget. This is a budget for Canada and for all Canadians. Better days are ahead.

[Jeremy Patzer, Conservative, Cypress Hills—Grasslands, SK]

Madam Speaker, the member was right to say that this was a historic budget for a lot of reasons. One of those reasons is that it is the largest deficit in Canadian history and pushes our debt further into the abyss. With the large amount of spending commitments coming in years down the road, I wonder if the member is willing to use a medium or even a long-term outlook and decide when the government should start to show some form of fiscal restraint.

[Majid Jowhari, Liberal, Richmond Hill, ON]

Madam Speaker, during this time, the government faced a big challenge as it related to COVID-19. We have ensured that all the measures are in place to support all Canadians through this difficult time. Naturally, with these difficult times, difficult decisions need to be made, and we have made those difficult decisions. We have ensured that there is the most diverse array of vaccines available to us. We have made investments in the environment, in child care, in the environment, in youth and in small businesses. Those investments are ensuring that Canadians stay—