Mr. Speaker, it is a pleasure to rise today in debate on the budget.
In the lead-up to this budget, the earliest federal budget in recent history, our government undertook the broadest and most comprehensive consultations ever. Our government met with and listened to thousands of individuals and groups across this great country. The Prime Minister, the finance minister and others met with leaders of business and industry and with economists, community groups, provincial and municipal governments, members of the opposition and other stakeholders.
Personally, I spent six weeks travelling throughout my vast and diverse riding of Wild Rose listening to constituents' suggestions and concerns. I held open houses, community office hours, and attended various other meetings and events throughout the riding. Constituents in Wild Rose shared their thoughts with me verbally, both in person and on the phone, by email and letter, and they filled out surveys that we distributed at meetings.
Canadians shared with us their views, their hopes and their wishes for this country and for the budget, and we listened. We have delivered with Canada's economic action plan.
This economic action plan is what is necessary for the circumstances in which we find ourselves today. It is extraordinary action for an extraordinary situation.
The global economic crisis did not start here in Canada, but it is affecting us. While the depth and magnitude of this downturn are broader than anyone could have anticipated, we were certainly prepared for it.
Over the past couple of years we paid down $38 billion on the national debt. We strengthened our financial system. We reduced the overall tax burden on Canadians to its lowest level in nearly 50 years, including cutting the GST from 7% to 6% to 5%.
That is why this past fall the World Economic Forum rated our banking system as among the safest in the world. That is why we entered the global recession later than other countries, why we are not as deep into the recession as other countries, and why we are expected to come out of recession earlier than other countries.
It is also why many other nations are emulating our actions, actions that have been widely viewed as the most prudent course of action leading up to this global economic recession.
We were ahead of the curve and our Prime Minister led the way for the rest of the world. That is why Canada is one of the best positioned countries during these global economic challenges.
Let me now address the decision to run a deficit, as I know there are those in Wild Rose who will be concerned about this decision.
Allow me to be very clear. We are in the midst of an unprecedented global economic slowdown, and we are taking the targeted action that we feel is necessary to stimulate our economy.
Let me be equally clear that this stimulus and the accompanying deficit is only temporary. We fully expect to return to a surplus situation in only a few short years. At that time our priority will be to repay the deficits expected in the next four years.
I liken our present situation to the average Canadian family or small business. When times are tough we must sometimes draw on a line of credit or use a credit card for a necessary purchase. However, when times improve and if we are being responsible, we immediately pay down the credit line and try to set aside money for a rainy day. That is what this government is doing. That is what we were doing when we paid off $38 billion of the national debt.
That is why this situation will be temporary and we will return to surpluses and debt reduction when we come out of this global economic storm.
Our government is taking aggressive action to stimulate the economy with almost $12 billion to improve local and key national infrastructure.
Many of the municipalities in my riding of Wild Rose have been among the fastest growing in the entire country over the last several years. Such explosive growth brings infrastructure challenges, the need for roads, overpasses, water and sewer, recreation and cultural facilities, to catch up with the increase in population. This investment in community infrastructure will help to address these challenges.
This investment also provides the double benefit of addressing community needs while stimulating the economy in the process, providing and creating employment for Canadians, and flowing money through the economy for needed supplies and materials.
I am proud to report that among these projects is the funding to twin the final phase of the Trans-Canada Highway in Banff National Park in my riding all the way to the B.C. border. This is something that I know my predecessor Myron Thompson fought very hard for because I worked alongside him as he suffered through the inaction and indecision and complete ignorance of the former Liberal ministers on this file. It took a Conservative government to finally get action and to get this done and now it will be completed all the way to the B.C. border.
We are also taking action on another pressing need in my riding and throughout Canada, that of housing for seniors. As our population ages, this housing need will only grow larger in upcoming years. Our government is anticipating that need and providing for it now.
Our government is also stimulating housing construction through such measures as increasing the amount Canadians can withdraw from their RRSPs under the first-time home buyers' plan to provide a down payment for their new homes. We are also providing a tax credit to assist first-time home buyers with the costs associated with their home purchases and a renovation tax credit that will assist Canadians in undertaking renovations and improvements to their homes.
This program has already generated significant interest in my riding and, I am sure, across the country. It will be a huge benefit for many Canadian families. This tax credit encourages those who have been thinking about doing renovations maybe now, maybe in the future, to undertake them right now, which again creates the double benefit of helping Canadians with their needs while maintaining jobs and providing stimulus for the economy in these troubling times.
The very best stimulus for an economy is consumer confidence and consumer spending, and that is also the rationale behind our tax reductions, which are aimed at low- and middle-income Canadians, our seniors and our small businesses.
Canada's small and medium size businesses are the heart of Canada's economy. To help support our small business owners and the benefits and jobs they create for our economy, we are not only lowering their taxes but also ensuring their access to financing. Many small business owners in my riding have pointed out to me that they were facing this problem, and I am happy to be able to stand in the House of Commons today and report to them that their concerns were heard and that we are acting to ensure that they have access to the financing they need.
Many business owners in my riding, particularly in the Bow Valley, rely very heavily on tourism. That is why I am proud to report that we have provided funding in our economic action plan to support the Canadian Tourism Commission in marketing Canada as an international tourist destination.
The hon. Minister of State for Small Business and Tourism is leading the development of a national tourism strategy. I will be happy to support her in those efforts. The most internationally known tourist destination in all Canada is the picturesque Banff National Park, which is in my riding. Our government has recognized the importance of our national parks in our tourism strategy by providing significant funding for improvements and enhancements to Parks Canada's visitor facilities.
Just as the Bow Valley relies on tourism, so do many parts of my riding rely on agriculture as a major part of our economy. Through many actions, including items contained in this budget, we are supporting our farmers. This support includes providing $500 million for an agricultural flexibility program that will support innovation in the industry. We will help to make credit available for new farmers and to help support farmers in transferring the farm to the next generation. This is an important first step in helping to ensure the future survival of the family farm.
We have listened to the calls from the livestock industry in providing funding for increased slaughter capacity here in Canada.
Together we face a global economic crisis that did not originate here, but which is affecting us and will continue to affect us. Through the actions taken by our government to prepare us for these times and through our economic action plan, with the help of all Canadians we will weather this storm and come out of it stronger than ever before.