Mr. Speaker, I would like to thank my good friend, the hon. member for Cypress Hills—Grasslands for sharing his time with me today.
I am thankful for the opportunity to rise in the House today and speak to Bill C-45, the jobs and growth act, 2012. Since being elected to this place I have spoken to every budget bill presented. The budget very much sets the tone for Canada's economic performance, for strong job creation and continued growth.
My riding of Mississauga—Streetsville is an excellent example of a community where both residents and businesses can flourish. We have a very strong mix of residential and commercial development. We encourage people to live and work in our local area. We have a very strong Streetsville business improvement area, adding to the character and heritage of an historic village setting. It is a community that comes together and supports one another. It is very much a shining example to all of Canada.
However, none of this happens if we do not have a strong economy, if we do not have growth and if we are not helping to create jobs. Therefore, I am pleased to speak in the House today of my support for Bill C-45, which lays out a strong plan for Canada's and my community's future.
Our government is on the right track for the Canadian economy and Canadian families, with over 820,000 net new jobs created since July 2009. However, we also know that the global economy remains fragile, especially in Europe and the United States, our largest and most important trading partners. That is why our government is working hard to support the economy with positive pro-growth measures in economic action plan 2012, such as the job-creating hiring tax credit for small business.
I am delighted to see that Bill C-45 extends this credit of up to $1,000 against the small employer increase in its 2012 EI premiums over those paid in 2011. The credit will help approximately 536,000 employers, many of them in Mississauga—Streetsville, whose total EI premiums were at or below $10,000 in 2011. Small and medium-size enterprises are the real job creators in our economy. It is our job to ensure that they can create and sustain jobs for the future.
I am very often amazed when I talk to business people in Mississauga—Streetsville about how many are engaged in international trade. Our government's ambitious pro-trade policies are helping these businesses maintain or improve market access in burgeoning economies around the world. We must continue to open doors so that our businesses can sell their goods.
Unlike the opposition, we are embracing new trade agreements that will benefit thousands of businesses all across Canada. Bill C-45 continues the important work of breaking down interprovincial trade barriers that often make it difficult for businesses to do business right here at home.
Bill C-45 also proposes expanding tax relief for investment in clean energy generation equipment. We are taking a responsible approach to continued economic growth, while balancing that with improved environmental protections. As Canada's energy needs continue to grow, we must play our role in encouraging new green energy technology because it is a win-win proposition.
Unlike the NDP, we would not impose a job-killing carbon tax that would tax everything we consume, everything we need and everything we do. Instead, we will continue to lower the tax burden for all Canadians.
The bill would also make important changes to registered disability savings plans. How we treat the most vulnerable in our society is paramount to Canada showing how caring and compassionate we are. To give families greater flexibility, we propose that parents who save in registered education savings plans for children with disabilities allowed to roll over investment income earned in the RESP to the RDSP if the plans share the same beneficiary. The bill would also make other administrative changes to ensure even fairer benefits to those who qualify.
The scientific research and experimental development, or SR&ED program, has been a wildly successful project of our government. The budget bill would make further improvements to the program to ensure its fairness and that benefits would continue to accrue.
We continue to very much look forward to ensuring that Canadians have important vehicles to save for retirement. I am pleased that Bill C-45 would amend the Income Tax Act to accommodate the new pooled registered pension plans we announced earlier this year.
The bill would also make important and timely update changes to the Canada pension plan, which were unanimously agreed to by all federal, provincial and territorial finance ministers.
As we are fortunate to have a strong financial services sector, we need to ensure it remains so. The bill would help to preserve the stability and strength of Canada's financial sector. Amendments to the Payment Clearing and Settlement Act are proposed to ensure that derivatives clearing activities are treated in a similar fashion as the clearing of cash securities under the PCSA.
The bill would also improve the Canada Deposit Insurance Corporation to reinforce Canada's financial stability framework. The proposed amendments will enhance the CDIC's ability to take on and preserve critical functions of a failed CDIC member through a bridge institution and provide for a limited automatic stay on the ability of certain counterparts of a failed member to determine certain eligible financial contracts. A stronger CDIC is a very important part of a strong financial system in Canada.
The budget sets an important tone on pensions in the broader sector to ensure that employees and employers equally contribute to their pension plans, just as MPs will now do through the bill passed unanimously last week in the House.
It is a great honour to serve as a member of Parliament. Each and every day we have the responsibility to act in the best interests of our neighbours. When I campaigned door to door, and when I continue to talk to residents in my community when at home, I pledged at that time, and continue to pledge, that our number one priority is jobs and economic growth. I promised to stay focused on this and to support measures that would attain this goal.
Therefore, today I am pleased to indicate to the House and the people back home that I support Bill C-45 and its obsession with jobs and growth. Unlike the other parties in the House, we have a strong economic action plan for a better and brighter future for all Canadians.
These bills are very important in ensuring that Canada continues to move in the right direction. We see the uncertainty in the world. We see the challenges other countries are having. We must keep our foot to the pedal and keep moving to ensure that Canada remains strong at a time when there continue to be difficulties around the world.
I am delighted to say that I will be supporting Bill C-45 and onward and upward to continuing to build Canada's great economy.