Mr. Speaker, we are always prepared to look at good ideas, but we are also acting and putting in place measures that really make a difference for Canadians.
We could not agree more that Canadians are looking for hope and real solutions. Preparing Canadians for good jobs is a top priority of ours, especially during these challenging times. We are renewing Canada's workforce strong, team Canada strong. It is a $6-billion promise to protect our workforce and our capacity to grow the workforce, because without skilled workers, we cannot meet the moment.
That is why, under team Canada strong, we will recruit, train and hire up to 100,000 new Red Seal workers in the next five years. This is critical, because within seven years there will be more than 410,000 vacant skilled trades positions across Canada. There is no time to waste. Team Canada strong will expand our union training and innovation program, so that union-run training centres can upgrade their facilities and invest in modern equipment.
Small and medium-sized businesses will be supported when they hire new first-year apprentices. The build Canada apprenticeship program will help employers hire and train apprentices, providing them with up to $10,000. Once certified as a Red Seal tradesperson, they will receive a $5,000 completion bonus. The new apprenticeship training grant means that apprentices can receive an income top-up of $400 per week while they are getting technical training. This comes out of a total payment of $16,000 per apprentice.
We know that there is more that needs to be done to weather the current storm. That is where the labour market development agreements and the workforce development agreements come in. These represent a $2.9-billion annual investment in training and employment assistance services to help hundreds of thousands of Canadians upgrade their skills and find employment. Our programs help workers complete their studies, build their skills and access opportunities that lead to successful careers.
Since 2019, Canada summer jobs has helped more than 600,000 young people find summer employment. This summer, the program will support up to 100,000 jobs for youth between the ages of 15 and 30.
All told, we are supporting over 175,000 opportunities for youth and students this year under the student work placement program, the youth employment and skills strategy, and the Canada summer jobs. In 2026-27, the student work placement program will support up to 55,000 work-integrated learning opportunities with employers for post-secondary students. Over 34,000 employers and 420 post-secondary institutions have participated in this program.
We are focused on delivering the results that Canadians need and creating the opportunities that will strengthen the economy.