Mr. Speaker, I am grateful for the opportunity to participate in today's debate on the timing of budget 2025, a subject that the Canadian government obviously takes very seriously. With that in mind, I am pleased to inform the House that I will be sharing my time with my esteemed colleague from Whitby.
We believe it would be both ill-advised and confusing to draft such a major financial planning document in the few weeks we have left before the House rises for the summer. Instead, the government will present a comprehensive, carefully planned and detailed budget in the fall, a budget that will reflect Canada's major national and international priorities, one that will provide a much more accurate picture of our macroeconomic outlook than what is currently available.
As we all know, the Government of Canada is restructuring its relationship with the United States, our oldest and, historically, largest trading partner. It is crucial that this be done in a spirit of co-operation and mutual understanding, with a view to ensuring a better future for citizens on both sides of the border.
As the Prime Minister aptly said not long ago, the road there will be long. There is no quick fix. That is precisely why our ongoing discussions with the United States are so important. That is why it is essential that we develop an updated picture of this important economic relationship before we rush into drafting a budget.
Of course, we know that a lot of Canadians are understandably anxious and concerned about the impact that U.S. tariffs are still having on their lives and pocketbooks. To these people, we make and repeat this promise: Our government will never back down. It will keep working tirelessly to protect our businesses, our workers and our country's sovereignty. By focusing our attention on this important issue at this decisive time, we will ensure Canada's success in a radically different world, and build a new, stronger Canadian economy for everyone.
In addition, the government will undertake a review of its daily spending based on its core mandate of spending less to invest more. That is why we are taking action to keep the Government of Canada's operating budget increase below 2% by capping the size of the public service, eliminating duplication and using technology, including artificial intelligence, to improve the productivity and quality of public sector services.
I would also like to touch briefly on how Canada's defence spending plays a very important role in the timing of budget 2025. Our government is working very hard to review this defence spending ahead of the upcoming NATO leaders summit later this month, where new defence spending targets will be discussed, as well as to better prepare us for future global conflicts and the rapidly changing geopolitical environment.
In short, by tabling the budget in the fall, we will have a better idea of our macroeconomic picture and will be in a much better position to share our overall investment plan with Canadians. In the meantime, our Canadian government will continue to deliver on its mandate to build a stronger economy, reduce the cost of living and keep our communities safe.
Just last month we implemented a tax cut for the middle class, a major investment that will support 22 million Canadians across the country. We are also getting rid of the goods and services tax, or the GST, for first-time homebuyers on homes valued at up to $1 million, which will allow them to save up to $50,000. We are also reducing the GST for first-time homebuyers on new homes valued at $1 million to $1.5 million.
The government continues to work with its provincial, territorial and indigenous partners to implement a major $10-dollar a day, Canada-wide early learning and child care system. We are giving more money to families through the Canada child benefit, which is lifting 1.5 million children out of poverty every month. We are providing meals to children who go without, through the national school food program, which, for Quebec alone, will help close to 100,000 children. In addition, roughly nine million Canadians who are now eligible will save close to $800 on average through the Canadian dental care plan.
These are all things that put more money in people's pockets and help create healthier, stronger, more resilient and more unified communities.