Mr. Speaker, it is my privilege to add to the debate on behalf of the people of Don Valley West on Bill C-13, keeping Canada's economy and jobs growing act. It is the people of Don Valley West who placed their confidence in me to ensure that we continue to move the economy forward and work to create a better Canada for all Canadians.
In April during the election campaign, there were three main issues that were foundational to my campaign, three issues that were consistently discussed on the doorsteps of my constituents, and it is these three issues that I would like to address with regard to Bill C-13 this afternoon. These three issues are: families, job creation and the economy.
I would like to begin with the economy as resolution to all of these issues flow from a strong and strengthening economy. Our Canadian economy is being recognized as one of the strongest and most stable in the world today and this is clearly a result of strong leadership and vision. Our government has cut taxes over 120 times since 2006, helped remove over one million low income families, individuals and seniors from the tax rolls altogether, and helped an average family save over $3,000 a year through our economic initiatives.
I note that both the IMF and the OECD have forecasted that Canada will be at the head of the pack for economic growth in the G7 for several years to come. Canada enjoys the lowest debt to GDP ratio among its G7 partners. With all of these positive initiatives, we cannot forget that the global recovery remains fragile, something we have spoken about over the past four months.
Our government campaigned and committed to balancing our books and eliminating the deficit. Before the global recession, our Conservative government paid down nearly $40 billion in debt. Our plan to balance our budget over the next few years is the cornerstone of the next phase of Canada's economic action plan. The good news is that we will do all of this without raising taxes on Canadians, unlike the official opposition that would raise taxes immeasurably and kill jobs or something the previous Liberal government accomplished by slashing provincial transfers to health, education and seniors in order to effect their balanced budget.
We understand that when Canadians are balancing their budgets at home, sacrifices need to be made. That is why, as a government, we are going through an extensive review of government spending, including scrapping the per-vote subsidy that was given to all political parties. We believe in using taxpayers' money wisely and that includes no free handouts to political parties.
The Toronto Board of Trade recently stated:
The 2011 federal budget achieves a prudent balance of tax stability and deficit reduction measures while pointing to longer-term infrastructure investment opportunities.
Additionally, the Canadian Institute of Chartered Accountants stated:
[The budget] strikes the right balance by keeping Canada competitive and demonstrating prudent fiscal management. This budget charts a course that will help Canada be competitive in attracting investment while establishing a fiscal framework that sets the stage for sustainable recovery and economic growth.
With regard to business and job creation, Canada has the lowest overall tax rate on new business investment in the G7, an open invitation to new investment in this great country. In the Year of the Entrepreneur, we introduced a new hiring credit for small business. I have heard from constituents in my riding of Don Valley West who own a small family manufacturing business that they are able to hire two more employees as a direct result of this specific initiative.
We are working to reduce red tape through the Red Tape Reduction Commission.
Since we formed government in 2006, over one million new jobs have been created. Since July 2009 over 600,000 net new jobs have been created, taking us to a higher level than the pre-recession level.
We are lowering taxes for businesses in order to help create an environment that encourages sustainable growth, so that they can continue to hire Canadians. Let us not forget that over 90% of businesses in Canada are small and medium-sized businesses.
Our economy has become so well regarded that even Forbes business magazine, the influential business magazine, has just this week ranked Canada the number one country in which to do business and create jobs.
To again quote the influential Toronto Board of Trade, it stated:
--welcomed new initiatives to spur small business productivity and hiring, such as the hiring credit for small business. SMEs are the engines of job growth. Spurring productivity and employment growth among SMEs, as this budget does, should help Canada's economic recovery.
And it is doing just that.
Within this sector, manufacturing continues to play an important role. Our government is working hard to create the right environment to stimulate manufacturing growth and job creation in Canada.
The Canadian Manufacturers and Exporters Association said:
The extension of the two year write-off for investments in manufacturing and processing technologies announced in [budget 2011] is critical to sustaining Canada's economic recovery...In an era of economic uncertainty, this tax measure gives manufacturers the confidence to invest in their future by boosting purchases of productivity-enhancing technologies.
Finally, I would like to address what our government is doing to assist families at this time.
We believe in families, and to prove that we have introduced a new children's arts tax credit of up to $500 in eligible fees for programs associated with children's arts, cultural, recreational and developmental activities.
We introduced the children's fitness tax credit, promoting physical fitness among our youth through a credit of up to $500 in eligible fees for programs associated with physical activity.
We brought in the landmark tax free savings account, the most important personal savings vehicle since the RRSP was born.
We have introduced a new family caregiver tax credit, an amount of $2,000 for caregivers of all types of infirm dependent relatives, including for the first time, spouses, common law partners and minor children.
Our government is extending the eco-energy retrofit program to help families lower their heating and electricity bills by making their house more energy efficient.
I have nine seniors homes in my riding and this past weekend on National Seniors Day, I had the pleasure of visiting hundreds of seniors in these homes and witnessing the impact the new horizons for seniors program has on the every day lives of seniors.
Our government has enhanced the guaranteed income supplement. Eligible seniors will receive additional annual benefits of up to $600 a year.
The C.D. Howe Institute stated:
--the new Guaranteed Income Supplement (GIS) top-up benefit for low-income seniors, would bring a meaningful increase in benefits too low-income seniors.
We have eliminated the mandatory retirement age, allowing Canadians to work longer.
According to the Canadian Taxpayers Federation, “People have a right to determine how long they work, and this is a major step toward eliminating poverty for seniors”.
Our government is working for Canadians. I urge the opposition parties to abandon their high tax, job killing agenda, and support these initiatives which are working for Canadians and for all of Canada.