Madam Speaker, I would like to share my time with the member for Oakville North—Burlington.
It is a privilege for me to rise in support of budget 2021, “A Recovery Plan for Jobs, Growth and Resilience”. I would like to use my time to highlight how the budget will invest in Canadian youth, which is an issue that matters very much to me.
This budget will help young Canadians recover from the COVID-19 recession through easier access to post-secondary education and good jobs. In many ways, COVID-19 has been a sacrifice of younger generations to protect their elders. Many young people have lost their jobs, and many have had to stay home at a time of life when they would normally have been studying, enjoying time with friends, and getting a foothold in the job market. Young people were among the hardest and fastest hit when the pandemic struck. They have experienced more job losses than any other age demographic and the worst decline in mental health of any age group.
We cannot let them be a lost generation. Young Canadians must be at the centre of our recovery. Their future depends on it, and so does the future of all Canadians. The future success of today's young Canadians will be critical for Canada's success tomorrow.
Budget 2021 proposes $5.7 billion in government investments to help young Canadians. There are many examples, and I would like to highlight a few of them.
For example, budget 2021 proposes more than $4 bilion in investments to make student debt easier to pay down and provide support to students with the greatest need. First, waiving interest on student loans for an additional year will help 1.5 million people. Second, increasing the threshold for repayment assistance means that nobody earning $40,000 per year or less will need to make any payments on their student loans. Third, the budget proposes to double the Canada student grants for an additional two years. Fourth, the budget expands access to disability supports for students whose disabilities are persistent but not permanent.
Education is the smartest investment anyone can make. Naturally, we are helping young people make that investment, and it begins well before college or university. Unfortunately, COVID-19 has made life especially difficult for students at risk of dropping out of school. They rely on local programs for counselling and tutoring, but because of the pandemic, donations to local organizations have dried up.
To help these groups fulfill their mission, budget 2021 proposes to invest $118 million to pilot after-school programming. This would support national and local organizations that help the most vulnerable youth graduate high school.
That being said, the support that the budget is offering to young Canadians is not limited to education. We are also proposing measures to make it easier for graduates to join the workforce. As I was saying earlier, young Canadians have been hit hard by job losses due to COVID-19. Measures included in the budget will help young people and students connect with employers and gain the job skills that will serve them all their lives.
The new funding would increase the number of work placements available through the student work placement program to 50,000. It would also increase the wage subsidy available for employers and increase employers' ability to access the program.
The budget also proposes to invest in the youth employment and skills strategy to better meet the needs of vulnerable youth. This would support 7,000 additional job placements for youth, on top of the 30,600 placements that will be created with the funding announced in last fall's economic statement.
In addition, the budget proposes funding for 75,000 job placements in 2022-23 through the Canada summer jobs program. In total, this budget would create 215,000 new job skills development opportunities for young Canadians.
The budget proposes measures for education and employment, but it also includes measures to improve quality of life. As I said, young people have experienced the worst decline in mental health during the pandemic.
The budget proposes to provide $100 million to support mental health interventions for populations disproportionately impacted by COVID-19, including youth, as well as health care workers, front-line workers, seniors, racialized and Black Canadians, and indigenous people.
Speaking of indigenous people, budget 2021 would help advance reconciliation with first nations, Inuit and the Métis nation. The funds allocated would enhance transportation for first nations students and increase first nations control over first nations education. The funding would also extend COVID-19 support so children on reserve can continue to attend school safely.
We are also proposing to enhance the Inuit and Métis nation post-secondary education strategies and the post-secondary student support program for first nations students. This would help offset the income that many students lost because of the pandemic and would help them pay for tuition, textbooks, housing and other living expenses. The money would also support indigenous-led post-secondary educational institutions during the COVID-19 pandemic.
Unemployment among young people is now 14%, compared to 7.5% among Canadians as a whole. We need some concrete action, and this will start with budget 2021. This budget will make college and university more accessible and affordable. It will help young Canadians launch their careers. It also proposes measures to address an issue that is very important to young Canadians, and that is the fight against climate change. The budget proposes to invest towards a green recovery to create jobs and build a clean economy. This green economy is our legacy to the youth of today and tomorrow.
For all these reasons, I support budget 2021, and I urge all members to support it too.