Mr. Speaker, it is always an honour to rise in the House on behalf of my constituents in La Prairie, Candiac, Sainte‑Catherine, Saint‑Constant, Delson, Saint‑Philippe, Saint‑Mathieu and Kahnawake. This is especially true today as I rise to illustrate what the spring economic update means in concrete terms for the families of La Prairie—Atateken, for our jobs, and for the future of our community.
Let me be blunt: This government is working for the people of La Prairie—Atateken, and the measures announced in the recent economic statement are proof of that.
The world has changed. Trade tensions with our neighbour, geopolitical turmoil such as the war in Iran, and disruptions in supply chains are creating real uncertainty. For the past year, we have been navigating an increasingly fragmented, rapidly changing world. However, what I can say is that, while other countries are retreating as they wait for better days to return, Canada is acting with conviction and resolve, without hesitation.
The spring economic update confirms Canada's fiscal strength, while investing in Canadians where it truly matters. The results speak for themselves. With an $11.5‑billion reduction in the projected deficit, our fiscal position is much stronger than expected. We are managing things well—all spending items have been reviewed—we are spending wisely, and we are focusing on long-term prosperity. Let us recall that, by 2028-29, the deficit will consist only of capital investment. The operating deficit, meanwhile, will have been eliminated. That is what is known as long-term vision.
Let me begin by addressing something that has an immediate bearing on the day-to-day finances of my constituents. The Canada groceries and essentials benefit will support more than 30,000 residents of La Prairie—Atateken so they can buy groceries and essential goods. Payments will go out starting June 5. This support will go directly into the bank accounts of many of my constituents. It is not a promise. It is a cheque.
We also made the national school food program permanent. This means that, year after year, Quebec will now receive its share to ensure that our schools can feed our children. Full bellies help children learn better. My colleague says that Quebec is handling that, but the federal government is also providing funds.
Another measure has to do with bank fees. The government is now capping overdraft fees at $10, thereby strengthening consumer protection. It is these small, cumulative measures that make a real difference in a tight family budget. We have also simplified the application process for the disability tax credit for people with certain long-term medical conditions. For families who have been battling bureaucracy for years, this simplification is a tangible victory. I used to be a family doctor, so I can attest to this.
The government is also extending assistance to people experiencing homelessness and working to ensure that victims of gender-based violence have access to safe housing. Of course, as is the case across the country, there is a shortage of public housing and transitional housing, but we are committed to supporting projects that address this need. Significant budgets are allocated for this purpose through Build Canada Homes, because a strong government is one that leaves no one behind.
I said this during the election campaign, and I will say it again: Housing is a key priority for the government, particularly for La Prairie—Atateken. This economic update clearly demonstrates that. One of the things the government is doing is reducing development charges. The government is also providing GST relief for first-time homebuyers, as well as simplifying rules and modernizing building codes to facilitate the construction of prefabricated and modular housing.
In fact, $7 billion in low-cost financing is being fast-tracked to CMHC so builders can get projects built sooner and get more rental units to market faster. Over the past year, there has been a significant increase in the supply of affordable housing in my region. Given that young families are looking to settle down and that property prices have skyrocketed in recent years, these measures are a lifeline that will help our children find housing close to home, not three hours away.
Our constituency is made up of working people—people who build houses, work in factories and keep the south shore economy going. This economic update recognizes them.
For example, I would like to mention the reduced CPP contribution rate, which will fall from 9.9% to 9.5% on January 1. This represents an annual saving of about $133 for an employee earning $70,000 a year, and equivalent savings for the employer. This is no small matter. For a couple where both partners work, that is nearly $270 more in their pockets each year.
Parents hope that their children will be able to build a stable career on the south shore. For our young people who are about to enter the job market and who are being hit hard by current unemployment rates, the government is launching a national initiative aimed at recruiting, training and hiring between 80,000 and 100,000 new skilled trades workers by 2030-31. These are more than 50 in-demand trades with solid wages, such as electricians, plumbers, carpenters and welders. Now there is a national program to access these trades, and it is going to be funded to the tune of $2 billion over five years.
The spring economic update also offers a long-term vision for Canada's economy, and our region will benefit from it directly. The Major Projects Office will oversee 21 initiatives of national interest that will interconnect, diversify and power our economy. These initiatives will support the creation of 60,000 jobs during construction and generate over $125 billion in new investments.
These infrastructure, road, trade corridor and energy projects will have a direct impact on our region, at the centre of Quebec's economic corridor. Consider, for example, Canada's defence industrial strategy and the proximity of the Saint-Jean military base. Consider, for example, the expansion of the Port of Montreal at Contrecoeur, which is expected to generate $140 million in spinoffs every year, including in my riding. Finally, consider the Saint-Hubert metropolitan airport, launched this week by Minister MacKinnon, which will soon welcome four million travellers a year—