Mr. Speaker, it is great to be back in the House after a short time of being away. I was fortunate, and I will start by thanking my wonderful wife, who has delivered another baby girl to our family. That is our third girl.
It is great to be back in the chamber and in debate with members opposite, whom I respect, even though I strongly disagree with the premise of the member's question. In response to the member, I would say that the government is actually doing a lot of the things that he is calling for. We have cut income tax by 1% in the lowest income tax bracket, which is saving dual-income families an average of $840 per year. We have cut GST on new home purchases of homes valued under $1 million, which will save families $50,000 on average. We have cut the carbon tax. In budget 2025, we have also put in place tax breaks and tax incentives for businesses to boost productivity. The Bank of Canada governor has come to committee and confirmed that those tax incentives, including the investment tax credits but also all of the different capital investment tax breaks that we have offered to Canadian businesses, are going to help boost productivity.
We are already seeing examples and signs within our economy that there is movement, and that for our manufacturing industries, for example, the PMI, the purchasing managers index, has been improving. It is at a 13-month high. We have seen that foreign investment in Canada has surged to the highest level since 2007, with net investment in Canada exceeding net outflows by $17.4 billion. Also, Canada's dollar has become a top pick in the $9.5-trillion-a-day foreign exchange market. Canada is projected by the IMF to have the second-strongest growth in the G7. Top economists in Canada actually had to revise their forecasts after budget 2025, and they revised them up to show that there would be growth in the economy. This is all despite being in a trade war, with tariffs obviously having a drag on the sales of our economy.
The Canada pension plan, which is world-class, was just announced as second in the world. That is pretty impressive, I would say. Also, we have heard quite a lot from investors around the world who are looking at Canada as a place to invest their capital. With FDI up as a measure, we can see that that is actually realizing itself.
We have seen that the Prime Minister and cabinet's attention to trade diversification is having an impact. Canada and India agreed to sign a new comprehensive economic partnership, doubling trade between the two countries to $70 billion a year. Canada and India signed a $2.6-billion agreement for Cameco in northern Saskatchewan to supply 22 million pounds of uranium for nuclear energy. Canada and India signed another strategic energy partnership focused on renewables: solar, wind, hydrogen and battery storage.
Canada and Australia recently, with the biggest superannuation pension funds in Australia, agreed to boost investments in Canada by $10 billion over the next nine years.
Canada and China have reached an agreement to open up market access for canola and seafood, which is good news for many of our canola and seafood producers across Canada.
Similarly, Canada and Japan signed a new comprehensive strategic partnership as well, and we have seen that the Port of Churchill just entered into an agreement with Belgium, one of the biggest—