Madam Speaker, again, I look at the implications. We have been listening to numbers get tossed around in this chamber by the opposition. They say that the budget should be $40 billion less of a deficit than it is. Where would we cut? Where would the cutting and slashing occur across government? Maybe it would be in the area of transfer payments to provinces.
A small province like Prince Edward Island, this fiscal year, will receive over $1.3 billion from Ottawa. These are funds that allow the province to ensure health care for Islanders and ensure a host of programs across the province. Imagine if that funding was cut. Let us look at a number of maybe 10% or 15%. That would have a significant impact on the ability of the government to deliver services across Prince Edward Island. That is the Conservative approach, and I experienced it before as a provincial politician years ago when the government of the day cut spending to the provinces to get its fiscal house in order. It did not work.
This is an approach that I very much support. It allows us to invest as we build the economy and grow the economy. Canada is doing well. If we look at all the turmoil that exists in the world, Canada is performing quite well. When we measure us against all the key leading indicators in the G7 countries, Canada is either at the top or very close to the top. The doom and gloom that is always put forward by the Conservative opposition simply is not valid.
We are in a position where Canada can afford to invest in itself, where Canada can invest in Canadians and where Canada can continue to support the social programs that Canadians take for granted and expect on a daily basis. Again, every time those line items come up, the Conservative members stand and vote against them. They will vote against increases in OAS. They will vote against increases in the Canada child benefit. They will vote against increases for child care and dental care, and they will continue to vote against programs and increases in the employment insurance program.
However, those key numbers in the delivery of transfers to provinces would have the most impact on all Canadians. As I pointed out, the impact on Prince Edward Island would be significant. As a small province with limited ability to generate revenue, its dependence on the Government of Canada is significant and its ability to deliver programs to Islanders depends on that. That is why I am supporting this budget, and I will be candid. I am quite proud to support the budget because the government could have taken a different approach. As I indicated, some governments may have decided to cut and slash without any regard for the impact on people's lives from day to day. However, we chose not to go that particular route.
In fact, the budget carries significant dollars for investing in infrastructure. One of the areas I have been extremely proud to have delivered on for my riding of Egmont is infrastructure. All across my riding, I can point to significant infrastructure that is building stronger communities and making them better places to live, raise a family and have jobs. This budget continues the government's investments in Canadians from coast to coast and its investments in the small communities in our ridings, particularly my riding of Egmont. Most importantly, it continues the government's investments in those social programs that Canadians depend on and Islanders depend on.
As was pointed out, it is important that this budget passes through the process so we are able to continue to deliver for Canadians on all the programs that they want from their government. With that, I am looking forward to the vote when it comes on this budget so I can show that I support the people I represent on the priority items that they cherish and want us to deliver on.