Mr. Speaker, I want to begin by thanking the people of York—South Weston for the trust and support they have shown me. I intend to honour that trust with hard work and a commitment to be the voice of the community in Ottawa and the champion for all the issues that matter to them.
I also want to thank my family, my campaign team, and supporters for all their hard work and support, as well as their belief in my vision of bringing a new generation of leadership to York—South Weston. I remain deeply grateful to all of them.
Our government recently tabled the federal budget 2016, restoring hope for the middle class. The budget puts people first. People in communities such as York—South Weston will benefit from our government's investments to boost the economy and create jobs. By carrying out these investments, the budget will deliver the help Canadians need right now. It is also about our government's sustained and strategic effort to restore optimism and prosperity to our country. Our government believes that we must do more to help Canadians prosper.
I am proud of the fact that we have cut taxes for the middle class. Since January 1, 2016, roughly nine million Canadians have seen more money in their pockets. In addition to this, our government has introduced the new Canada child benefit, a plan to help families and lift hundreds of thousands of children out of poverty. For example, a single mother earning $30,000 a year with one child under the age of six will receive an annual benefit of $6,400 tax-free. A family earning $90,000 with two children will receive $5,650, an increase of $2,500 from the current system. The Canada child benefit will be simpler, tax-free, better targeted to those who need it the most, and much more generous.
Budget 2016 has a big role for infrastructure. Our plan to invest in new roads and bridges will help Canadians move goods and services faster. Investing in waste-water treatment plants, sewers, and water mains ensures the safety and integrity of our water system. Our plan to invest in social housing will ensure that Canadians have access to affordable homes. Our record investment in mass transit will ensure that there is much less congestion in communities like York—South Weston, and will allow Canadians to spend less time commuting to school or work.
Budget 2016 includes a historic plan to invest more than $120 billion in infrastructure over the next 10 years. Phase one of the plan includes $3.4 billion over three years for a public transit infrastructure fund, and $5 billion over five years to invest in water, waste-water, and green infrastructure projects across Canada. Phase two of our plan will deliver on the remaining eight years of the government's long-term infrastructure plan to invest more than $120 billion over 10 years in transit, green, and social infrastructure.
In addition to this new funding announced in 2016, our government will continue to make available approximately $3 billion each year in dedicated funding for municipal governments and infrastructure projects through the gas tax fund and the incremental goods and services tax rebate for municipalities.
Budget 2016 is also about stronger communities. My government will make significant investments totalling $1.5 billion over two years in order to create access to safe, adequate, and affordable housing, including shelters for victims of violence. My government will also support the construction of up to 4,000 new affordable housing rental units through an investment of $208.3 million over five years. The government will also provide up to $500 million in loans each year for five years.
Finally, for stronger communities, our government will support the establishment of a national framework on early learning and child care through a proposed initial investment of $500 million in 2017-18, recognizing the deep connection between child care and the economic security of families.
When it comes to young people, as I continue my work in York South—Weston, I have been approached by many young people who are worried about access to jobs and the affordability of post-secondary education. I am proud to say that our government has listened to these concerns by raising the Canada student grant by 50%, from $2,000 to $3,000 per year for students from low-income families, and from $800 to $1,200 per year for students from middle-income families. These measures will provide assistance of $1.53 billion over five years, starting this year. To help these students gain valuable work experience, we will create up to 35,000 additional jobs for young Canadians in each of the next three years under the Canada summer jobs program.
Young people will have access to a regime of expanded eligibility for Canada student grants to help even more students receive non-repayable assistance through an investment of $790 million over four years starting in 2017-18. We will increase the loan repayment threshold under the current Canada student loans program's repayment assistance plan to ensure that no students will have to repay their Canada student loans until they are earning at least $25,000 per year. This measure will provide assistance of $131.4 million over five years starting this year.
In addition to this, budget 2016 is about creating employment opportunities for youth through an investment of an additional $165.4 million this year for the youth employment strategy. Budget 2016 also helps young Canadians to gain valuable work and life experience through an investment of $105 million over five years to support youth services.
I am proud to say that our budget includes support for new co-op placements and work-integrated learning opportunities for young Canadians through an investment of $73 million over four years starting in 2016-17 for the post-secondary industry partnership and co-operative placement initiative.
Seniors in communities such as York South—Weston have been concerned about their living costs. To address this, I am proud to say that our government will increase the guaranteed income supplement top-up benefit for single seniors to help lift low-income seniors out of poverty. The government will also provide support for low-income seniors by introducing legislative changes so that couples who receive GIS and allowance benefits and have to live apart for reasons beyond their control will receive higher benefits based on their individual incomes.
In conclusion, I know that the people of York South—Weston will benefit greatly from our government's budget 2016, which contains investments to help Canadians now by boosting the economy and creating jobs, as well as making the necessary long-term investments to ensure prosperity for all. Our middle-class tax cut has already ensured that roughly nine million people have already seen more money in their pockets. Our Canada child benefit will mean that nine out of ten families will get more help than they do under existing programs. Our infrastructure plan will invest in new roads and bridges to enable Canadians to move goods and services faster. Our record investment in mass transit will ensure that there is much less congestion in communities like York South—Weston. We will help students and seniors and we will ensure that Canadians can prosper today and tomorrow.
