Mr. Speaker, I am pleased to rise today on Bill C-59, our budget implementation act for economic action plan, 2015.
The good news is that the federal government has balanced its budget and now we are helping families to balance theirs. We are doing so by introducing the family tax cut, the enhanced universal child care benefit enhancements for children under 6, and a new universal child care benefit for those between 6 and 17 years. That would help families balance their budget and get ahead.
There are a number of things I like about the budget implementation bill before us today and in the short amount of time I have, I am going to try to lay them out as quickly as I possibly can and explain why I am supporting this particular measure.
Farm succession is an important issue, drawing in the younger generation of farmers in Essex county. We do about $1 billion-plus in agricultural GDP each and every year. Extending the lifetime capital gains exemption to $1 million for owners of farm businesses, which is contained in this act, would go a long way in succession planning and drawing in our young farmers.
Yesterday, the Prime Minister was in Windsor—Essex, talking about manufacturing. There is a lot to say in Bill C-59. We would be extending the accelerated capital cost allowance out to 10 years. That would give a lot of predictability. I encourage the opposition members, who said they supported that measure, to actually stand in their place to vote for it now.