Mr. Speaker, I am very pleased to be here to speak about this government's new budget. I am very proud of our colleague, the Minister of Finance, and his hard work over the past few months. He has tabled a budget that reflects all the priorities of Canadians.
I am referring to, among other things, how this budget will reduce the rate of taxation for all Canadians. This budget will put in place a good number of the true priorities of Canadians. It is the first time in several years that a budget has been able to accomplish this. I am very pleased to speak about this budget, today.
Speaking with the people from my riding, the feedback I am hearing is overwhelmingly supportive. It seems that Edmontonians know that the budget is good for their city, good for the province, and obviously good for Canadians. They support a focussed agenda that will actually get results for a change.
As someone who has stood before the House in the past to speak on budgets, especially being in the opposition, one of the key assessments that I have always had to make is to look at how the government's plans would actually affect the people who sent me here to represent them.
In the past, I will say as many have felt, it has been frustrating because despite a punishing tax regime that squeezed the average family, individuals and small businesses in my riding, people regularly had the sense that we were not receiving value for money.
The previous government would announce billions in funding, but for average people, for real people in neighbours in my riding, the only results they ever saw was a creeping tax burden, a rising cost of living, the occasional press release announcing a new program, but no real help or support that ever seemed to make a difference. This budget is different.
I am proud to say that our plan does more in one budget to help the diverse needs of people in my riding than the previous government was able to deliver in the last 13 years.
Individuals in Edmonton—Strathcona are hard-working people. There are students at the University of Alberta, small business owners, entrepreneurs on Whyte Avenue, and moms, dads and grandparents who put a premium on family.
I am happy to say that the budget speaks directly to their needs and it does so in a way that leaves the maximum amount of flexibility for individuals to pursue their own goals in their own way.
It is in the spirit of respect and acknowledgement of the fact that individuals not bureaucrats know best that our budget seeks to make life easier for all Canadians. The government does not and cannot better understand the needs of a third year chemistry student trying to balance work and study to afford tuition at the University of Alberta.
None of us here can pretend to know what is best for the restaurant owner trying to scrape the money together to expand on Whyte Avenue and we cannot certainly assume to better be prepared to tell the parents of young children in my riding how to raise their family.
In the past, the previous government sought to impose a one size fits all for its own solutions for these very real problems. Our vision is very different.
We do not pretend that because people have different needs that government does not have a role to play in making life better, but what we do say is that people know best for themselves and that government's proper role is a supportive one.
I am proud that the budget recognizes this fact and takes steps to position the federal government to help people achieve their goals and realize their dreams.
One of those groups is students. For every single one of more than 35,000 students attending post-secondary studies at the University of Alberta in my riding, the budget delivers significant and meaningful assistance in the most direct way possible by getting out of the way and leaving students with more money in their pockets for their own priorities.
Our new government will help reduce the burden on students in Edmonton—Strathcona by providing an immediate tax credit to help all students with the cost of their textbooks.
For a full time student at the U of A this will mean a textbook tax credit of about $520 per year. This is money that will be left in the pockets of students and go toward any number of needs from groceries to school supplies, a ticket home to visit friends and family, or to start paying down some of their debt.
Students need to be supported for their hard work in pursuit of academic excellence. That is why we took a bold move, that should have been done a long time ago, to exempt bursaries and scholarships from tax, so that when students are awarded some of the much needed financial assistance, they will not see that recognition clawed back to the federal coffers in Ottawa.
As I mentioned, I used to be a small business owner in my riding. I know firsthand the challenges faced by entrepreneurs and hard-working independent business owners who make our community so vibrant. Incredibly, I have long made the case to fix the problem. Government needs to do a lot less, not more.
We need to leave individual business owners more of their hard-earned money to invest in how they see fit. This will mean more jobs and a more robust economy as small business owners find they have more money to expand, to take on more staff, and also make key investments. The budget delivers on that.
Entrepreneurs in my riding will have an additional $100,000 of qualifying income for the small business tax limit. Not only does this mean more business income than ever before will be protected from punitive tax rates, but our government has moved to reduce the small business tax rate by 1% over the next two years.
In addition to helping small business owners, we knew that all Canadians, regardless of who they are or what they do, deserve meaningful tax relief. That is why the government is providing tax relief people can actually see, tax relief that will affect every single Canadian. We will be immediately reducing the GST by 1%.
The benefits of this commitment will be felt by every single individual in my constituency. I know, coming from a service industry business, the more that can be freed up in taxes, especially in the service industry, the more disposable income people will have to actually spend on particular items for their families or themselves.
For students, it means that the necessary expenses needed to get them to class will be cheaper. For business owners, it means customers will have more money to spend on their products and services and, more importantly, for families in my riding, it means an extra $400 on average every year that can be spent or saved as families see fit.
More often than not, government cannot spend money better than Canadians. This is a recognition that Ottawa can do more with less and that Canadians can do more with their own money. Instead of treating Canadians like a series of special interest groups, the budget recognizes that Canadians are individuals with their own goals and desires.
I am thrilled that my constituents finally have a government that recognizes the need to support their choices by leaving them with more resources to carve out their own destiny. By providing broad based and meaningful tax relief, our fiscal plan will make a real difference for every single person in my riding.
One point that I did not mention during the course of my speech relates to students and the link to small business. I know that one of the unfortunate restrictions in the past was that international students, who are now making up such a significant part of our student base across the country, were not able to work while they were spending time here in Canada. Often we would have those international students bring about $4 billion worth of investment into Canada every year by attending classes, taking up housing, and spending money when they came here to pursue their studies. Unfortunately, they were not able to work.
As we know, in the budget there was the announcement that we have opened up that process to allow those international students to actually pursue employment here in Canada while they are attending school.
As I mentioned, as a small business person in the service industry, I have noticed that there is a labour crunch right across this country. Many of the markets are finding it difficult to find people to work. Our budget will provide not only the chance for students to find work and raise some money to help pay for some of the costs that they incur, especially being away from home in an international location, but will also help fill the gap that we currently have in the employment market when it comes to the service industry by allowing some of those students to take up some meaningful employment.
I know that will make a huge difference to many people in my riding, especially when it comes to filling that labour shortage that many people are currently facing.
The budget is an excellent new start for the government. The budget sets some key priorities in the short term to achieve meaningful results. It sets a plan in place for the future, a bold vision that I think Canadians were so desperately needing after 13 years of mismanagement, corruption, and lack of attention to their needs.
Mr. Speaker, I move:
That this question be now put.