Thank you, Madam Speaker. I know the members are very interested in what is happening. It is creating discussion, and that is important.
After 25 years in the private sector, I wanted to give back to a society that enabled us to have opportunity. Many of us are products of immigration. My parents came in 1953 from a postwar fascist regime in Europe, seeking that opportunity to continue to prosper, to allow us that engagement and recognize that we all play an essential role in the well-being of Canada.
My first priority in politics and government is to promote economic growth, to promote economic stability and to enable opportunity and prosperity. That is essential to who we are and what we do in the House. The budget speaks to that in a large way.
The second priority is to be able to sustain social programs. We cannot do that without a strong economic force, and those programs are essential to help those less fortunate, to ensure that we have education and health care and that we have the backstop for those who are most in need. My community in Mississauga—Lakeshore cares about our economic prosperity and our ability to have jobs but also about ensuring that no one is left behind and that we support our elders as they move on to retirement.
Another priority has been unity. Spending the years I did in the private sector, I recognized some of the challenges between provinces. Tearing down those barriers and enabling us to foster greater competitiveness as a country means we have to have stronger unity as a country between provinces. I tried at one point to foster a national co-operative securities regulator across all provinces, and I was able to get eight provinces to sign on. That enabled us to have a shared vision, one where we could attract more foreign direct investment at a lower cost to them, and people of all political stripes understood that.
National unity is essential for Canada's prosperity. We can have our differences, but we recognize that when we work in tandem and try to help one another, we all succeed in our federation. At that time, I was representing the Province of Ontario, and we in that provincial government were going through some challenges with the 2008 downturn and the financial crisis. We still picked up, and we still contributed more to the rest of the federation than we brought in, because we understood that Canada is one, notwithstanding all the provincial differences. I strongly support co-operation and success in Quebec, success in British Columbia, success in Alberta and success in all of our provinces, because that way we all succeed.
Last, a fourth priority in this engagement, as to why I became a member and sought elected office, is to ensure that Canada stands proudly on the world stage. We have a lot to be proud of. Some may say we are reliant on major powers, and others may say Canada is a trusted partner and one that actually provides engagement regarding peace and the rule of law. That stands Canada apart. It is why we are a major force in NATO. It is why we continue to be a major force in the United Nations. It is why we must continue to stand tall and stand proud, to enable the rule of international law to prevail.
Canada is sought after because of our sense of peace, our sense of democracy and our sense of rule of law. We are not here to dictate what others should do but to, by our own example, encourage other parts of the world to behave appropriately, with respect. The budget speaks to respect: respect of our businesses, respect of our citizens and respect of those around the world. Yes, we have global challenges, and Canada is facing them.
In Mississauga—Lakeshore, in my community where I grew up, people care about the community. They care about education, jobs and security. They do not care about who is responsible. They just care about the results. They do not care about us deflecting blame to others. They care about us working together to ensure that greater security is had at home, that protection measures are there for them, and that prosperity and opportunity are provided for them as we go forward. The budget speaks to their priorities, investing to build more homes and protecting our society through a number of bills beyond our budget, on crime and bail. In the budget, there is already an allotment for greater border security, greater RCMP and greater measures of protection to ensure that Canada remains safe.
More importantly, this budget is about empowering Canadians, giving them skills and job opportunities and providing a number of aspects within industry, with our trade routes and our negotiations abroad, to enable Canada and Canadians to do even more. The budget not only charts a course for Canada, but it charts a course for individuals to succeed.
There are a lot of discussions around generational investments in the budget to build major infrastructure. The major projects being proposed would unleash the great potential that Canada has. It is why so many are seeking to invest in Canada and so many are trying to control those investments. We need to foster and protect our indigenous communities and protect Canadians. We must protect our borders, and we must empower Canadians by also providing better measures of affordability.
Again, the budget would provide tax cuts for low-income Canadians, incentives to produce more housing, and support within the mix so people can afford those groceries that have been costed up by inflation, which has been under control, but we need to do better in the interim. We must compete, and the budget talks about how we can compete and prosper, how we can build to enable that support and that prosperity, but it also says we must be more responsible and eliminate some wasteful spending. There are measures within the budget to empower us to invest but also to be mindful of where we spend. That is clear in the budget and the process by which we are proceeding without impeding those social programs that are so critical to all Canadians.
Attracting investment is a third issue in the budget that I want to touch upon. Canada is one of the strongest in the G7. We are unleashing over $1 trillion over the next five years through our major projects, our critical minerals sovereign fund, roads and bridges, our communities strong fund and Build Canada Homes. The defence industrial strategy is yet another piece of an economic imperative as well as a sovereign imperative.
The Major Projects Office will trigger $150 billion in total capital investment, which is critical. Many Canadians want to see Canada invest in itself. It is not just about taking minerals out of our ground. It is about processing and refining those minerals for value-added use. These things are essential as we proceed.
Let us talk about the fiscal impacts in the budget. We are in the midst of many trade agreements. We have witnessed a record number of measures already being taken by the Prime Minister, the trade commissioner and our trade minister. The world is looking to work with Canada.
Canada is the only country that has trade agreements with all G7 countries That says something about how we are viewed by other parts of the world. Canada is also sought after because we are an energy superpower, one that has a sufficient amount of oil and natural gas that has yet to be taken to its full potential. We recognize that, but we also recognize the clean energy grid that is also important in our ability to trade and to enable some of our industry to be even more competitive in the long term. Those measures are taken into account.
Our fiscal capacity is strong. We have a strong credit rating. We have very low net debt to GDP among others. Interest rates have come down, and we have locked in our bonds and yields for the long term to enable us to take advantage of the low rates today.
The skills, training and career ability of our people are also essential. This attracts people to Canada, knowing that we have the talent pool to enable manufacturing and advanced manufacturing innovation to succeed. Canada is nurturing that. We are an incubator as well as a builder. Those things must be maintained within Canada. We know that companies all too often will go after larger markets to enable them to succeed. We can do more to help them succeed here at home by having alternative trade routes across other parts of the world.
We have talked about affordability, the grocery benefit, and having the ability to ensure that people who are less able today would be able to reduce their taxes and have a way to foster greater engagement if they have found it difficult, certainly after the COVID years. We all recognize that. We talk about that, but Canada, by enabling greater prosperity and job creation, is also able to provide greater support and opportunity for people who have had a difficult time.
However, that measure is one of global effect, as colleagues know. The United States is going through the same thing, as well as other parts of Europe and other parts of the world. Canada is one of the few countries that has stood out in providing help and supports directly to the people most in need. We also supported industry, providing stimulus and other measures to help it be more competitive through the industrial strategy.
We have a housing strategy to try to foster and create more affordable homes, reduce homelessness and provide greater social well-being. The acceleration of some of those housing projects through our housing strategy will enable that to take place. Many are now breaking ground.
Public safety, as I talked about earlier, is an essential part within this budget. So many border security officers have now been hired For the RCMP, the funding of those essential supports are part of this budget.
Also considered as a part of this budget is fraud and financial crime, which affects so many and is hard to engage. Within this budget, as we go forward, we are engaged in those protection measures.
Our defence strategy recently came out, funded by the opportunities within this budget. It will help us bolster Canadian-made supports in aerospace, ammunitions and critical minerals. Our defence industrial strategy is aligned also with NATO and Europe, our allies, because we need to ensure that we are able to broaden our reach and our markets so we can have those measures invested here in Canada to enable Canadians to invest and also to prosper within those skills and manufacturing sites.
The key to this is our defence investment agency to foster and partner with the manufacturing and production facilities at home. The security action plan with Europe, and our strategic investments as we align ourselves across this country to support the industry, will help support and guarantee northern sovereignty, as well as our overall sovereignty in Canada and the Arctic, and provide an international boost for new careers across Canada.
Our focus is on Arctic and northern defence, technology and innovation, and, more importantly, on maintaining and securing a strong Canadian supply chain.
We are talking about a budget that encompasses housing abilities, our defence ability, our industrial major projects ability, the enablement of energy, the opportunity to maximize our critical minerals, and, above all, to be a trusted partner in the engagement with other parts of the world. Buy Canadian is a big part of this budget. We recognize that is a key factor for Canadians, our citizens, to succeed. It is a positive vision, one with confidence and discipline and one that abides by the rule of law.
I thank all members across the way as we maintain and strengthen Canada to keep Canada strong.