Madam Speaker, it is always a pleasure to rise in the House to share my views on a bill. This one is extremely important because it deals with housing affordability and the cost of groceries, an essential matter.
Throughout the summer months, I too heard clearly from constituents about the price of groceries.
I heard it from my kids. I have three kids and they remind me whenever they see me. When I go to the grocery store, I notice the prices are much higher than I believe they should be. I can go to certain grocery stores and see items at half the price. Something needs to be done, and our objective is to try to bring stability in pricing.
In my speech today, I will talk about what we have done thus far, what we are going to do now to help affordability, because it is a real issue to Canadians right across this country, but I will also talk about the importance of investing in our strengths so we can bring more revenues to the table and do more to support Canadians.
Prosperity is the key to success, as my dad used to say, and we have shown big investments that look into the future. Electric vehicles is one, of course. We have given big contracts in Ontario for batteries. The trade agreements we have signed over the last four or five years bring prosperity. I will also talk about offshore wind farms and the Atlantic Accord, which the Conservatives do not want to support.
Let me start with some of the key things we did to help with affordability, because this is crucial. We doubled the GST to two quarterly payments to help those in need, the low-income Canadians, which is so important. There is the Canada workers benefit; depending on one's salary, one can receive $2,400 a year. We made some changes so every three months one will receive a quarter of that sum, so one can have more money as one faces some the challenges out there.
There is the disability benefit, which we passed in the last legislation and is so important, because we know people with disabilities are the most vulnerable. The highest poverty in the country is among people with disabilities, so we need to move forward on that very quickly.
I need to talk about something extremely important, which is indexing. Indexing of inflation is key here, because if one's pension or the benefits being received do not increase with the cost of living, it makes it even more difficult. Therefore, we came forward with the CCB, which is tax-free, but it is now indexed to inflation so young families can continue to count on that growth to help them. This is so important.
The GST is exactly the same; we have adjusted that. As well, there are changes to the Canada pension plan, to help Canadians not fall behind. We already made a big improvement in that area, and where a person was getting about $11,400 a year, now it is up to $20,000 a year, which will be a great help.
I want to talk about the OAS and the GIS, because those are specifically touching seniors. In here, we have ensured indexing for these as well. This indexing, which is so important, will see a 30% increase by 2027-28 in the OAS and GIS, which is crucial. Our government will be investing about $20 billion a year to continue to support our seniors, which is over and above what we are paying now.
Early learning and child care is such an important investment. It is tax-free as well. Already, today we see that 50% of the provinces have lowered the price to $10 a day, with the rest to follow in the next couple of years. This is having an effect on affordability for young families.
On housing, last year in one of our bills there was a top-up that helped 1.8 million low-income Canadians. As well, there was a one-time payment for groceries that helped 11 million Canadians, with single people receiving a little over $200 and a family of four over $400. Those are specific investments helping affordability, but it is not enough, which is why we will bring more forward.
Also, we talked about students in university, now having a tax-free interest rate, which is very important. We increased, by 40%, the grant funding so that they can have more money to pay for their expenses because we know the challenges. Just the interest rate and the student loan is over $600 a year for a student. That is a help, as well, toward affordability.
Who can forget, of course, our very important investment in dental care for Canadians? We will see over nine million Canadians, by 2027, receive dental care. Already today, over 340,000 children have received support through dental care, which is crucial.
My riding of Sackville—Preston—Chezzetcook has seen some of these benefits but so have the ridings of many other members of Parliament in the House. We have seen investment in child care spots in my riding. It means more space. We made 500 more spaces in Nova Scotia. My riding of Sackville—Preston—Chezzetcook will receive 119 of those 500, well over 20%.
We are also receiving, of course, the CCB, for young families. The CCB in my riding alone will be over $5 million per month for young families. That is over $60 million a year. People in all of the MPs' constituencies are receiving those monies to help them, which is so important.
We then see an investment in the Canada community revitalization fund, which allows many of my communities to benefit from these important investments.
I cannot understand why a Conservative would not be in favour of the tweaking of the Atlantic Accord, which is so important. For the first time ever, we are going to see an offshore wind farm here, right here. It will be the only one in Canada. There are none today. This creates that opportunity to allow this industry to bring more revenues and more great jobs for Canadians. These are major steps and there is a trillion dollars to be had in investment by 2040.
This legislation today that needs to move very quickly to committee is the GST rebate and this is focused on various types of housing, which is crucial, of course.
The minister tells me that the five main grocery chains, when they were here last week, did understand that they too have a role to play to support Canadians with regard to affordability. It is important that they play a role and they are open to coming back to us, I understand, by the end of this week with some proposals that will see those costs lowered, which is so important.
I want to talk about the Competition Bureau's act. The competition bureau has a major role to play. We are going to make some major changes here. This came out of a report back in 2022, that more competition is needed, more innovation is needed and this is one way we can ensure that the prices, again, find their way downward.
As I said, we have made some investments in the past. We are bringing forward some major investments this time around. We also have to keep our eyes focused on our strengths and that is investing in our people and looking to, in the future, where our investments should go. We did it with the electric car. We did it with the batteries.
On the wind farm project, it is hard to believe that Canada has the biggest coast and shores in the world and Nova Scotia, Newfoundland and Labrador have the fastest winds in the world. This is how we can grow this economy. There is so much to be had through this investment.
Why, again, I ask, are the Conservatives not supporting Atlantic Canada, especially today when we need to?