Madam Speaker, I am pleased to rise today to take part in the debate on Bill C‑15, the 2025 budget implementation bill, and to highlight the significant investments in this budget that will help build Canada strong.
As we know, advanced economies are feeling global economic challenges. Canada is no different. With the historic rise in tariffs posing significant challenges to the Canadian economy, Canadians are feeling the impact in their daily lives.
To rise to the challenges of our time and seize new opportunities, we must make historic investments that protect and transform our industries, strengthen our economy and empower Canadians. Our generational investments in housing, infrastructure, defence, productivity and competitiveness will enable us to rise to the challenges. Canada's new government is building a single Canadian economy, powered by major projects of national interest that will connect our regions, diversify our markets and create hundreds of thousands of well-paying jobs ranging from skilled trades to cutting-edge technologies.
We are investing by building homes for Canadians; we are investing $25 billion in building affordable housing at scale.
Through the Build Canada Homes tax measures, incentives and programs, we are building the foundation of Canada's most ambitious housing plan in a generation.
These investments are not only for building houses. Budget 2025 proposes a plan to invest $115 billion to build 21st-century infrastructure.
Projects would be focused on trade and transport, along with supporting indigenous and municipal projects, all of which are key drivers of economic growth and support high-paying careers. To create the right conditions for businesses to invest and drive real, sustainable growth, budget 2025 outlines an ambitious plan to invest $110 billion to supercharge growth by increasing productivity and competitiveness through such areas as innovation support programs, investments in AI, and major tax credits and incentives.
With Bill C‑5, our government is moving forward with projects that will build Canada and increase confidence in our security and resilience.
Bill C-15's measures will build a Canada for today and for generations to come. That is how we will build Canada strong.
Climate change is real. Fighting climate change is not only our economic duty, it is our moral duty. That is why budget 2025 lays out Canada's new climate competitiveness strategy.
Budget 2025 includes clean economy investment tax credits that will attract investments and help drive Canada's economy toward net zero by 2050.
The clean electricity investment tax credit reimburses up to 15% of the capital cost of eligible investments in equipment related to low-emission electricity generation, electricity storage, and electricity transmission between provinces and territories.
Eligibility for this tax credit would be limited to taxable Canadian corporations and certain non-taxable corporations, such as provincial and territorial Crown corporations, corporations owned by municipalities or indigenous communities, and pension investment corporations.
In addition to the implementation of the clean electricity investment tax credit, Bill C-15 proposes enhancements to the existing suite of ITCs to ensure that they remain competitive and effective in attracting projects and high-paying careers to Canada. These include the carbon capture, utilization and storage investment tax credit, which would maintain full credit rates for an additional five years up to 2035. The clean technology manufacturing investment tax credit would be broadened to include more critical minerals essential for clean-technology supply chains. As well, the critical mineral exploration tax credit would be expanded to cover 12 more critical minerals necessary for defence, semiconductors, energy and clean technologies.
This generational budget is designed to bring about generational change.
Generational challenges would include shifting trade relationships and supply chains, climate change and housing. Canada, like many countries, is facing a steep housing supply gap, one that threatens affordability, opportunity and the ability for Canadians to build a life and a future here at home.
Canada is facing a steep housing supply gap, one that threatens affordability, opportunity and the ability for Canadians to build a life and a future here at home.
Canadians demand immediate action, and we are delivering with the urgency that the moment requires, with bold actions to unlock supply and bring affordability back within reach. From eliminating the GST for first-time homebuyers on homes under $1 million to launching Build Canada Homes, a new federal agency that will drive investment and public-private co-operation, we will build faster and smarter.
With the passing of Bill C-15, Build Canada Homes would be supported by an investment of $13 billion to help double the number of affordable homes built over the next decade. That is not all we plan to build.
Budget 2025 is about generational investment in our infrastructure and our future. That is why proposed legislative changes are included in Bill C-15 that would accelerate the development of the Alto high-speed rail project, a project that could create 51,000 jobs during construction and inject up to $35 billion into our GDP, with a target of 25 million tonnes in emissions savings.
These amendments would enact a new act that would streamline approvals for the high-speed rail project, remove regulatory burden and eliminate duplication of effort, in order to reduce the cost and timeline to build the project.
This measure would go beyond what is possible under the Building Canada Act by allowing the project to be advanced as separate segments under the Impact Assessment Act and by adding flexibilities to the expropriation process and reservation or priority sale of lands to reduce acquisition costs.
Budget 2025 makes generational investments while maintaining Canada's strong fiscal advantage. This foundation allows us to invest ambitiously and responsibly and make the Canadian economy the strongest in the G7. We cannot control what other nations do, but we can control what we build.
That is why Canada is transforming its economy from dependence to resilience. Now is the time to make generational investments.
That is why I wish to encourage all members of the House to join me in supporting the passage of this crucial piece of legislation, which would help ensure that our workers and businesses will prosper by building Canada's strength at home and our economy for Canadians and by Canadians.