Madam Chair, budget 2016 is about restoring hope for the middle class. It is about revitalizing the economy and providing support for Canadian families.
Even before taking office, Canadians told us to do two things: invest in people and families, and grow the economy for the long term. Canadians want to leave a better future for their children. People work hard and expect their government and their economy to work hard for them in return.
At the core of our plan is the notion that when there is an economy that works for the middle class, there is a country that works for everyone. That is why we have to look at all of the investments we make today in the context of how they will help to build Canada's future.
We all know that public investments in areas like infrastructure are crucial to driving economic growth and strengthening the middle class. It is no coincidence that some of Canada's most significant public works have come at a time of economic transformation. Building on a grand scale is something Canadians do well. One only has to look at the highway that was built that united Victoria and St. John's in 1971 or the railway that linked the country nearly one century earlier.
Canadians have said that the time is right to invest in infrastructure that will define Canada in the 21st century. In fact, the timing has never been more critical. Interest rates for the new investments are at historic lows. Our current infrastructure is aging and Canada needs a boost in economic growth. Investing in infrastructure creates good, well-paying jobs that help the middle class grow and prosper.
However, it does far more than that. Properly chosen and implemented, these projects can collectively improve Canada's fortunes. By working with our partners to develop world-class transit systems, improve and expand trade corridors, and reduce the carbon footprint of the national energy system, these investments deliver cleaner growth, improve trade, and ensure the middle class can seize new economic opportunities.
In budget 2016, the government will implement a historic plan to invest more than $120 billion in infrastructure over 10 years to better meet the needs of Canadians. First, over the next two years, we will implement a plan to immediately invest in the infrastructure projects Canadians need most: modern and reliable public transit, water and waste water systems, affordable housing, and upgrades to protect existing infrastructure. While the projects themselves will be diverse, what remains constant is the underlying objective of economic growth for the middle class and those working hard to join it.
Next, we will take a longer view that will also help support our ambitious vision of a modern, cleaner economy and a more inclusive society that is better positioned to capitalize on global trade. Nation-building projects like the Trans-Canada Highway require a much longer horizon and a much grander vision. That includes projects that reduce urban transportation congestion, improve and expand trade corridors, and reduce the carbon footprint of the national energy system.
Success will depend on collaboration with provincial, territorial, municipal, and indigenous partners alongside new approaches that help us achieve this goal responsibly. We will pursue evidence-based decision-making and listen to good advice, and we will aim to boost the number of municipal infrastructure projects that are being built and get them started earlier.
The government believes that municipalities are on the front lines, the best place to make decisions about how to meet the needs of the community. They will be our partners. Their involvement will not just ensure our collective economic success, but will also help to translate a broad vision into tangible change at the community level. We recognize that municipalities are already playing a significant role in federal efforts to upgrade and build infrastructure, but we want to work even closer with them to build our communities.
Every day millions of Canadians rely upon affordable, efficient public transportation to get to their jobs, schools, community centres, and at the end of the day, home. As Canada's cities continue to grow, we have to ensure transit networks adapt to meet the new demands and do so in a way that is a sustainable, clean, and helps to reduce congestion and harmful emissions.
Canadian cities are among the most livable in the world. It is time for public transit infrastructure to live up to this reputation. To improve and expand public transit systems across Canada, budget 2016 proposes to provide up to $3.4 billion over three years for a new public transit infrastructure fund to start making that goal a reality.
Getting people moving is an important goal, but it comes with an important condition. We must ensure investments help to catalyze Canada's transition to a low-carbon economy. Work is already under way on a pan-Canadian framework on clean growth and climate change.
Infrastructure investments are a part of this broader effort and can play a meaningful role in helping to position the economy for future success. In particular, green infrastructure can help build healthier more sustainable communities. To that end, $5 billion over five years will be provided to the provinces, territories, municipalities, and first nation communities for green infrastructure. Projects funded by the green infrastructure envelope will include new funding for municipalities whose front-line expertise will allow them to undertake infrastructure projects that both combat climate change and build up greater climate resiliency.
We will provide $125 million over the next two years to the Federation of Canadian Municipalities to enhance the green municipal fund, including for projects that reduce greenhouse gas emissions. We need to make sure that Canadian communities are ready to adapt to climate change. Simply put, we need to consider all of the investments we make today in the context of how they will help to build Canada's future.
As I said in my introduction, Canadians have said that the time is right to invest in infrastructure that will define Canada in the 21st century and I could not agree more. After all, every dollar spent on infrastructure investments such as housing, transit, and green projects will create jobs, strengthen our communities, strengthen our trade corridors, and ultimately raise Canadians' fortunes.
Just like the Trans-Canada Highway did for Canada a generation earlier, our long-term infrastructure plan will unite Canadians once again, helping to redefine our physical spaces while positioning us for success in the economy of tomorrow.
I would like to ask the hon. minister a question in regard to infrastructure. As he may be aware, prior to this I spent 10 years in municipal politics and as deputy mayor of my municipality, so infrastructure and our budgets are quite important. In fact, I was on the finance committee for our region's budget. For us in Ontario and in my municipality in particular, housing is a municipal responsibility, a regional municipal responsibility, and the waiting list as well as the condition of our housing in Durham region are growing deeper in terms of longer waiting lists and the deficit of infrastructure investment in these houses.
If we do not have investment, the number of spaces we have now will actually decrease. With that in mind, what is the government going to do to support social infrastructure like housing?
