Madam Speaker, I thank colleagues for their patience with my Internet difficulties today. I apologize and I do really appreciate their forbearance.
Small businesses are the cornerstone of our economy and of every main street in Canada. Lockdowns, though necessary, have hit them hardest. To heal the wounds left by COVID, we have to put a small business rescue plan into action as well as a long-term plan to help them grow.
In addition to extending the Canada emergency wage subsidy, the Canada emergency rent subsidy and lockdown support, we also have to make sure that the hardest-hit businesses pivot back to growth and stay on track.
Bill C-30 proposes the new Canada recovery hiring program, which will run from June to November and make it easier for businesses to hire back laid-off employees or to hire new workers. We also intend to invest up to $4 billion to help up to 160,000 small and medium-sized businesses buy and adopt the new technologies they need to grow. We will encourage businesses to invest in themselves by allowing for the immediate expensing of up to $1.5 million of eligible investments by Canadian-controlled private corporations in each of the next three years.
Small businesses need access to financing in order to invest in people and innovation and to have the space to operate and grow. That is why Bill C-30 enhances the Canada small business financing program through amendments to the Canada Small Business Financing Act. This will mean broader eligibility and increased loan limits.
In 2021, job growth is green growth. This budget sets out an ambitious and realistic plan to help Canada get to net-zero emissions, and it puts in place the funding to achieve our 25% land and marine conservation targets by 2025. At the same time, we will make targeted investments in transformational technologies, helping our business growth and making us more productive and competitive around the world.
The hard and essential work of reconciliation continues. This budget commits to investing $18 billion over the next five years to narrow gaps between indigenous and non-indigenous peoples, to support safe, healthy communities and to advance reconciliation. We are committing to investing $6 billion to improve infrastructure in indigenous communities.
Bill C-30 earmarks $2.2 billion to flow through the federal gas tax fund, renamed more appropriately the Canada community-building fund, to communities across Canada. Cities and towns have faced steep revenue declines because of COVID. This funding will help them maintain and build the local infrastructure on which Canadians depend.
Collaboration with all levels of government across Canada has been and will continue to be the cornerstone of our team Canada response to this pandemic. Together, we will finish the fight against COVID and together we will come roaring back.
Bill C-30 is essential if we are to activate our government's recovery plan as presented in budget 2021. Our people and our businesses cannot do without the support measures in this bill. This bill takes unprecedented steps to stimulate future growth.
This plan is about people. It will make a measurable, positive, tangible difference in the lives of millions of Canadians. It is about making concrete, targeted commitments to heal the wounds of COVID, to get us all back to work and to put us on a long-term path toward growth, prosperity and a clean, green future.
I urge all members to join me in supporting the speedy passage of this essential legislation.