Mr. Speaker, it is always a privilege to rise in the House, representing the people of Brampton West, especially to talk about today's subject.
The bill is a low tax plan for jobs and economic growth. It is the next phase of Canada's economic action plan, that will support Canada's economic recovery and promote job creation.
As we have all heard many times in the House, Canada's economic performance has won praise around the world. The World Economic Forum has declared Canada's financial system the soundest in the world for the fourth year in a row. We have also had the strongest job growth in the G7, creating nearly 600,000 jobs since July 2009.
We will have, according to the International Monetary Fund, the strongest economic growth of the G7 over the next two years. Forbes, the influential business magazine, has ranked Canada as the best country in the world for business.
While this is positive news, we must remain aware of the fragile economic conditions that exist in Europe and the United States. We are not isolated from the economic challenges outside our borders. That is why we must stay the course and implement the next phase of Canada's economic action plan so that we can maintain economic growth and job creation.
I would like to speak to a few of the many important features contained in the keeping Canada's economy and jobs growing act, and discuss how they will benefit my constituents in Brampton West.
As everybody in the House knows, our Conservative government believes in low taxes and leaving more money where it belongs: in the pockets of hard-working Canadians and in the hands of businesses, like those in my riding.
I am proud to say that we have cut taxes in every way that government collects them. We have cut personal taxes. We have cut consumption taxes. We have cut business taxes, excise taxes and much more. We have cut taxes over 120 times since 2006, reducing the overall tax burden to its lowest level in this country in over 50 years.
The next phase of Canada's economic action plan builds on our government's low tax record and contains even more initiatives to promote job creation and economic growth. For example, the bill proposes to extend the accelerated capital cost allowance to help manufacturers and processors make new investments in manufacturing and processing machinery and equipment.
I have heard first-hand from my constituents over and over again how important this will be to our local businesses. It is allowing Canadian businesses to invest in machinery and equipment that will allow them to be more competitive in the global economy.
There is also the temporary hiring credit for small businesses, which will allow small business owners to hire additional employees, creating more jobs and strengthening the economy of the country and the local economy of Brampton West.
The bill contains more support for my community. Bramptonians have already seen the benefits of our government's economic action plan. The City of Brampton has received millions of dollars through this plan for a number of infrastructure and transit projects.
For example, the government invested in the AcceleRide bus rapid transit system, which over time will help reduce traffic congestion, strengthen the economy and reduce greenhouse gas emissions throughout the greater Toronto area. These initiatives have also created numerous jobs in Brampton, of further benefit to our local economy.
Included in the bill is the permanent annual investment of $2 billion in the gas tax fund to provide predictable, long-term financing for cities and towns. The mayor of Brampton has welcomed this initiative. She has said:
This budget reaffirms the federal government's belief that the best way to deliver high-quality infrastructure projects at the local level is to partner directly with municipalities. Like other cities across the country, the City of Brampton has seen first-hand how successful this approach can be.
Thanks to the gas tax fund, the City of Brampton has been able to undertake major infrastructure projects. The continuation of this fund will allow more necessary projects to get under way.
In addition, the bill includes the youth crime prevention initiative: $20 million will be dedicated to promote programs that will help youth resist or exit gangs. Community safety is a top priority in my riding, and this initiative will help make our streets safer.
This bill also contains continued support for our seniors. Our government recognizes that our seniors helped to build this great country and no other government has taken larger steps toward supporting our seniors than this government. This bill includes initiatives such as enhancing the GIS, where eligible low-income seniors would receive additional annual benefits of up to $600 for single seniors and $840 for couples. This would help more than 680,000 seniors across Canada.
Moreover, this bill includes improved financial assistance for students, with initiatives such as the extension on tax relief for skills certification exams. This would make all occupational, trade and professional exam fees eligible for tax relief through the tuition tax credit. These initiatives would allow more people from my riding to attend and graduate from post-secondary education.
The last specific feature I would like to discuss is the phase-out of the per-vote subsidy for political parties. Governments have a duty to use taxpayer dollars wisely and only in the public interest, especially in a time of fiscal restraint when families are struggling to make ends meet. Our government has always opposed the direct taxpayer subsidies that are paid to political parties and believes that the parties should rely primarily on their supporters for their financing. The vast majority of people I have talked to in Brampton West agree. Our government is following through on our campaign to gradually reduce the per-vote subsidy until it is completely eliminated by 2015-16, which would save $30 million. Phasing out this subsidy would allow the parties to adjust to their loss of income by stepping up their fundraising efforts. As such, they would find themselves in more contact with Canadians.
A number of colleagues have pointed out that this bill has been debated for a long time. Initially tabled in the House in March, we are now dealing with the implementation of the second phase of the bill. We are in the last part of the process that deals with the budget that was presented. Both the NDP and the Liberals turned that down in the spring and decided it was time for an election. During that election, Canadians decided it was time to get things done and they gave our government a strong mandate so that we could move the budget process forward. It is important to get this bill passed without delay.
Despite the challenges we face in the global economy, our government is successfully implementing the next phase of Canada's economic action plan. Our government continues to be focused on what matters to Canadians: creating jobs, promoting economic growth and lowering taxes. This bill, the keeping Canada's economy and jobs growing act, does just that.
As the member of Parliament for Brampton West, I am pleased to support this bill that provides continuous tax relief and support to my riding's businesses, seniors and families. This plan is working. We must continue to stay the course, as our Conservative government delivers on its strong mandate to help Canadian families and our economy.
