Madam Speaker, it is always great to rise in the House and discuss important matters. Today, we are discussing making life more affordable for Canadians, Canadian families and hard-working Canadians, and continuing to grow the economy.
I will be splitting my time with the hon. member for Kingston and the Islands, whom I have known for many years, and I know he presents his view in a very eloquent manner every time the hon. member rises to speak.
I would quickly like to note that today is a good day for the Canadian economy. It is a really good indication of where we are. Foreign direct investment flows are something that, as an economist, I very much like. We are at $23 billion in Q3. Foreign outflows are at $9 billion. This is one of the largest-ever recorded foreign direct inflows into our economy. These are not securities. These are actually investment transactions by companies. This is confidence about where we are going as a country and where we are going as an economy.
This is really important to note because it is something I believe in, whether it is the $10-billion Dow project or the $2-billion Linde project in Alberta, whether it is the Stellantis plant in Windsor, near my hon. colleague down the aisle, or whether it is the Volkswagen investment, which is literally transforming southwestern Ontario, in the St. Thomas area. It is just incredible to see those types of numbers presented. Again, there is confidence in Canadian workers and confidence in our country.
We are here to discuss giving Canadians some help and meeting them where they are. When I was growing up, we had this saying within the family that every little bit helps. Every little bit helps a family that is working hard, saving for their kids and for their futures, and looking forward to celebrating the Christmas holidays. I know that in my riding, a lot of families will be getting together, of course, just like they will all across this country. A lot of them will buy prepared meals.
In the city of Vaughan, there are a lot of entities that have these prepared meals, and they are going to be saving, literally, hundreds of dollars sometimes, when it is a large family, on a prepared meal. Those are real savings for families. In my riding of Vaughan—Woodbridge, there are 368 food service establishments employing over 5,000 hard-working Canadians, and they are going to get a boost, from December 15 to the day after Valentine's Day, especially during January. It is the slowest period of the year for many businesses, including restaurants. They are going to get a boost.
I can name a few: Romano's, Castello, Via Mercanti, Giro d'Italia, Funghetto Trattoria, Desserts Plus, That's Italian. Zafferano and pizza restaurants are near my office. There are so many wonderful restaurants.
In all of these restaurants, we are going to see groups of people before the Christmas holidays, during the Christmas holidays, having lunch. The Province of Ontario has signed on. That is for Ontarians, for the residents of Ontario. That is about $1.6 billion to $1.7 billion in tax savings from December 14 to February 15. These are real savings.
I am so proud. The day we made the announcement, Restaurants Canada was there to say that was great work. Its hard-working members need a break. Restaurants have faced higher costs from higher minimum wage, higher insurance costs and higher input costs. Of course, we are going to help them, and that is what it is about.
I have a three-year-old, and most of the time, to be honest, my wife takes care of her because I am here in Ottawa. She goes out to buy diapers, and they are not cheap. We do not control the price of diapers. However, for parents with kids at home, we made raising a child more affordable, much like we did with the national early learning and day care plan. We reduced fees by 52%, again, working with the Province of Ontario. We will see further relief in January, down to, I think, 60%. Then in September, it will be down to $10 a day on average.
We are going to give Canadians a break. We are going to help them out because every little bit helps. These are real savings for hard-working families across the country.
If the Conservatives wish to vote against it, that is their prerogative. We all make our own decisions. That is fine. With the Canada child benefit, for example, in my city, 49,400 children and their families receive the Canada child benefit, and $192 million flows to the residents of the city of Vaughan, to those collecting the Canada child benefit, and the Conservatives voted no.
Let us be frank. With the Canada workers benefit, there are 19,000 people in the city of Vaughan who get the Canada workers benefit. There has been over $21 million delivered.
Making life more affordable and growing our economy is what we are about on this side of the aisle, and we will continue to do that. Even in uncertain times, we will deliver for Canadians.
Regarding the Canadian dental care plan, when I first assumed office in 2015, I heard from seniors everywhere. The only place for a senior facing emergency dental work to go was York Region. There was no plan. However, over 21,000 seniors in the city of Vaughan, including nearly 12,000 in my riding, are on the Canadian dental care plan today. These are real savings. Canadians are saving, on average, $710. I have had seniors come to my office who, after nine or 10 years, have gone to a dentist. It was unfortunate to hear that one person had eight cavities, when I spoke to the dentist afterwards. That is real, tangible progress for Canadians.
We talk about our economy. In the city of Vaughan, we had a South Korean firm invest and create 300 jobs. It was a $100-million investment about a month ago. We had a food products company invest another $100 million. Every week I attend a new business opening, whether it is in Vaughan Mills or whether it is in my riding. I have probably attended 10 or 12 new business openings in the last two months.
Canadians have been through a lot. We know it. There was a global pandemic, and there was global inflation, which impacted everyone and elevated prices. However, we have had the backs of Canadians, and that is what being in government is about.
We are now debating a bill to give Canadians some tax relief. I am all for tax relief. They better believe it. I know those hard-working restaurant workers are going to get more hours out of this. Those owners are going to get more profits. They also received the small business carbon rebate, tax-free, which is being delivered today.
I know that Josie and Patricia at Il Castello, and Francesco at Via Mercanti are going to get their tax-free small business carbon rebates back. They are going to get tax-free money, and they will actually receive a tax deduction up front. They are getting a double benefit, and that is very important.
I will talk about the Canada workers benefit because it is not in this bill, but we look forward to it in the future. It will help hard-working Canadians, who work hard every day and who do the right things. They save, invest, create jobs, pay taxes and do the right things for their services.
I look at the other items, some essentials, and I go back to prepared foods. At Brettone Catering in my riding, Romano's, Aidas and all those bakeries, their customers are going to go in at Christmastime, Natale, Noel, and are going to get a tax break. It is great news. Again, regarding the 13% HST in the province of Ontario, the province has joined us in delivering savings for its residents. That is something I am so proud of.
This is about making life more affordable, laying the foundations on social programs that strengthen our social fabric while growing our economy. I think of the Canada child benefit again. It is tax-free, monthly. Almost $200 million flows to the families in the city of Vaughan. There is the Canada workers benefit, the Canada child benefit, as I mentioned, and the national early learning and day care plan.
We also eliminated interest on student loans and on apprenticeship loans for students in university. We raised the amount they can get before they start to repay those loans to get them back in and get them working.
Canada is a work in progress, but we are the ninth-largest economy in the world. We have a AAA credit rating. Our debt-to-GDP is the lowest in the G7. Our deficit-to-GDP is around 1%, versus that of the United States at 7% or 7.5%, versus our European friends at between 3% and 5%. Ours is the lowest. That is being fiscally responsible, and it is something we need to celebrate. These are good foundations to continue to grow and to invest in our economy.
There is uncertainty in the world. We know that, and we will continue to deal with it. That is what strong leadership is about.
I always look forward to getting up and debating in the House about the issues of the day, with my three daughters at home and with the family watching. It is always an honour to rise. I look forward to questions and comments from my most hon. colleagues. I wish everyone a wonderful afternoon.