Mr. Speaker, the Conservatives are so excited about the budget that they are already commenting, but they should wait a bit, because there is more good news.
In Canada, our fiscal strength is giving us the freedom to live our life as we choose, to be masters of our destiny. With solid revenue growth and a shift toward capital investment and clear strategies, we are in a position to transform our economy toward stronger growth and productivity.
Budget 2026 is the next step in our ambitious plan to help businesses of all sizes invest and grow, to help Canadians get ahead and to build a stronger, sovereign Canada. Let me start with the first pillar: economic growth. Investing in our future means having an ambitious growth agenda. We need the mines, the transmission lines, the ports and the trade corridors, the nuclear reactors, the electricity dams, the AI infrastructure and the factories to power our future.
First and foremost, we need Canadian workers and Canadian companies building them, and we need to build faster. That is why our government will propose amendments to the Impact Assessment Act to bring greater legal certainty and predictability to projects, consistent with a “one project, one decision, one year” process, while maintaining environmental protections and upholding indigenous rights.
Last year, budget 2025 laid out a generational plan to build a stronger Canada. The plan is working and is already paying dividends. We are already moving major projects forward, with 28 nation-building initiatives that have been referred to the Major Projects Office, including projects in energy, critical minerals and transportation, and with budget 2026, we are building on that progress.
For too long, a lack of access to growth capital has held Canadian companies back. Too often, Canadian talent and Canadian ideas have had to look elsewhere to scale. Budget 2026 changes that with the most comprehensive revamp of business incentives in generations. At the heart of it is the new productivity mega deduction, which will boost Canada's investment supercycle. Businesses, both large and small, will be able to immediately deduct the full cost of most new investments. That is a game-changer for small businesses across our nation. Over the next 10 years, this should expand Canada's productive capacity by adding about $22 billion a year to GDP and supporting up to 80,000 jobs. This is a game-changer. This is how we boost the investment supercycle.
The productivity mega deduction is available to a manufacturer buying more efficient machinery, such as the shoemaker Pajar, whom I visited in Montreal yesterday; a farmer purchasing newer silos and a combine harvester; or a mine adopting new technology to reach deposits. Let me be clear. We are making it easier for businesses to choose Canada, and we are also making Canada the global partner of choice. This country is going to grow like never before.
Again I can see in the members' faces and hearts how happy they are going to be next week to tell their constituents all this good news.
We are not stopping there. With the Canada growth incentive, we are backing Canadian innovators and start-ups so they can grow their business here at home in Canada, allowing builders and key employees to keep more of the benefits when a business succeeds.
With the enhanced small business rollover, we are making it easier for successful entrepreneurs to reinvest in the next generation of Canadian businesses. By expanding the scientific research and experimental development program to support commercialization, we are helping Canadian ideas become reality.
By pursuing a balanced immigration policy, we are attracting the talent that our growing industries need, supporting communities and families and retaining the Canadian tradition of welcoming people fleeing conflict, while ensuring that we keep immigration levels at a sustainable level.
This is Canada. Through the most ambitious efforts in decades to simplify Canada's tax system, we are making it easier to invest, to grow and to do business in Canada.
Not every Canadian business is in a position to invest today. Many have been hard hit with unjustified U.S. tariffs. I think tonight about the steelworkers in Hamilton.