Madam Speaker, it is a privilege to rise this morning to speak to Bill C-15, which is the budget implementation act. For Canadians at home, these are the actual legal and legislative measures the government is introducing to move forward with what it introduced in the budget. It is a great opportunity to talk about what the government is intending to do to help support the Canadian economy in a difficult time.
It was great to see a 2.6% increase in the GDP in the last quarter and, in the last jobs report, 67,000 jobs added. However, I think I would be remiss if I did not highlight the fact that, given what is happening around the world, the U.S. administration changing its trade policy and tariffs implicating some of the critical sectors in our country, this is not a moment we should take lightly. There is a lot of economic duress that Canadians are facing.
The Prime Minister and the government have been very focused on introducing measures here at home that help grow the Canadian economy and build out resiliency in our trade relationships, in order to make sure we are able to control what happens at home. Yes, we are engaging, as a government and as parliamentarians, as we should be, to make sure we build out trading links around the world, but we have to control what we can do at home.
I am going to use the remaining time I have to highlight three or four areas that I think are extremely important at this moment in time, and that matter.
First of all, I want to talk about defence spending. Now, when the Liberal government took over in 2015, defence spending under the Conservative Party had fallen below 1% of GDP. There were consistent investments in the last government to improve that. I do not think they went far enough. I am very pleased to see, under the new government and new Prime Minister, a firm and strong commitment to increase defence spending in this country.
We are living in an uncertain world. We see war in eastern Europe. We see war and conflict in the Middle East. We see changes around making sure we can protect our Arctic security. All of that means we have to invest in our men and women in uniform. I think about my aunt, Mary Blois, who served proudly for 30-plus years in the Canadian Armed Forces. I am very proud of her contribution. I am proud of my family's contribution to the Canadian Armed Forces through multiple generations. We as Canadians need to be proud, but we also need to make sure it is not just pride. As parliamentarians, we are supporting measures that increase capacity and support for the Canadian Armed Forces.
That is why the government is investing $81 billion over the next five years. This is not only to meet our 2% target of GDP spent on defence by the end of this fiscal year. It is also to work toward 3.5% of GDP and an additional 1.5% of GDP that can be connected to defence. This is extremely important.
What does it mean at home in my own riding? I think about 14 Wing Greenwood, Camp Aldershot and the men and women who live in our communities and put on that uniform every day to defend our country. The government has already supported a long-overdue pay increase for the Canadian Armed Forces, and we are building out additional capacity. When I think about 14 Wing Greenwood, I think about the fact that the P-8, the Poseidon aircraft, will be replacing the CP-140. That should be coming online in the next year or two. It will add additional full-time equivalent opportunities at Greenwood, along with the RPAS, a remotely piloted aircraft system. There is a number between 500 and 700 full-time equivalent jobs that will be coming to 14 Wing Greenwood. That is good news for our Canadian Armed Forces. It is good news for 14 Wing Greenwood. It is good news for our communities in the Annapolis Valley.
One of the things I am working on as a parliamentarian, alongside the hon. member for Acadie—Annapolis, is building additional housing. We need to make sure there is requisite housing, of course, primarily for our Canadian Armed Forces members. As the community grows, there is tremendous opportunity in that domain as well. We need to make sure we are there on housing. That will be something I am working for.
It is worth noting that Nova Scotia has 2.5% of the Canadian population, but 20% of the personnel of the Canadian Armed Forces are located in Nova Scotia, and 40% of defence assets in this country are in my home province. That represents a great source of pride but also an opportunity to have, as we build up defence capacity in this country, an ability to grow our communities with it, whether from a procurement perspective or just through additional membership and support for the Canadian Armed Forces. This is something I am going to be working on.
It is also something we need to think through strategically because the existing infrastructure channels and bilaterals do not always take into account the growth that will be forthcoming. I had the opportunity to talk to the Minister of National Defence about this, along with his deputy minister, at the Halifax International Security Forum. It is something we need to do more on, but this is a generational investment. I was certainly disappointed to see some members of the House vote against our Canadian Armed Forces on that measure.
Let us now talk about infrastructure. We have had generational infrastructure investment in Kings—Hants. Our communities are growing, and I certainly take a lot of pride in seeing the resilience of our regional economy in the Annapolis Valley and in Hants County. However, as former County of Kings mayor Peter Muttart said, the infrastructure underground, like waste-water and water infrastructure, is not sexy but sure is essential. If we are looking to build out housing, grow our communities or update existing infrastructure, we need to make sure those programs are in place.
Under the investing in Canada infrastructure plan, the government made significant investment, but we have to make sure it is renewed. This budget contains 51 billion dollars' worth of infrastructure spending, first through the Canada community-building fund, which is a direct transfer through the provinces to municipalities that supports infrastructure across this country.
There is one thing I am very proud of, and maybe not all new members of Parliament know this: For the longest time, the former gas tax fund, now the CCBF, did not allow those municipal transfers to support fire hall infrastructure. I think of all the members' ridings that have volunteer fire departments. This is something we changed to allow municipalities to use that federal transfer to support fire hall infrastructure. Although it may not be needed in Montreal, Vancouver, Toronto and even Halifax, it is sure needed in small communities like Maitland, Brooklyn, Kentville and areas around Canning. There are so many volunteer fire departments.
While I am on my feet, I want to say to the men and women who volunteer their time to protect our communities that we could not be more grateful, which is exactly why we increased the volunteer tax credit, as well, in the last fiscal update.
This infrastructure is going to be important. One of the goals I want to see this infrastructure funding support, through the $17-billion FPT stream, is a new recreation complex for the County of Kings. This is a project that might be between $80 million and$100 million. It will need federal financing. This is something I am focused on and want to get done. As it relates to West Hants and East Hants, some of the areas we are focused on are certainly housing and water development to support our growing communities.
I will make a quick mention of agriculture and forestry. In Kings—Hants, these are extremely important to our regional economy.
Agriculture is mentioned throughout this budget, and we have increased the program commitments. This is extremely important. There are measures in this budget that I highlighted for the member for Barrie South—Innisfil, and I have been chastising my Conservative colleagues throughout this fall session because there was nothing in the Conservative platform for agriculture. Objectively, this is the first time in a long time that the Liberal Party has a better platform for agriculture. This budget delivers on programs that increase business risk management tools and support agri-marketing for export development. I give credit to the Minister of Agriculture, who was in Mexico supporting the development of markets for apples from the Annapolis Valley and beef products from the country. There are good things happening. Conservatives have a bit to answer for as it relates to that question.
On forestry, there are a number of critical supports, including ITCs for biomass and waste, which are really important.
I also want to talk about small businesses. This budget is clarifying the carbon rebate for small businesses, which is important. We are also putting in a productivity superdeduction, which is the ability of small businesses to write off capital expenditures, within one fiscal year, against their taxable income for the types of investments that increase productivity. This is important for small and medium-sized businesses across this country, including in my riding.
The last thing is debt. We will hear Conservatives suggest that the fiscal track is unsustainable, but the Parliamentary Budget Officer has confirmed that the fiscal track is sustainable. We have a AAA credit rating, which S&P and Moody's put in place. We have the lowest net debt-to-GDP ratio in the G7 and the second-lowest deficit in the G7. Also, when the Conservatives were in government in 1990, 35¢ of every dollar was being spent on debt management. Right now, it is less than 10¢. The Conservatives stand up and suggest that the fiscal track is unsustainable, but this is simply not true.