Mr. Speaker, I am pleased to have the opportunity to stand in the House today to speak to the budget implementation act and Canada's economic action plan 2012.
I am proud that Canada is slowly emerging from the recent economic recession and atop all other G7 countries. This is something that we should all be proud of. We should remain committed to continued prosperity for years to come. I am positive that the budget will do just that. It will stimulate the economy through jobs and growth while helping to ensure long-term prosperity for Canada.
I would like to start by looking at the basics of economics. It is easy for those in government to lose track of the simple things. These simple rules ensure we are doing not only what is best but what is possible.
It is easy to say that we can provide many services to everyone but we also have to be reasonable. We have to be realistic and realize that there is only so much that government can or should do. The ability to work with what we have and deliver reasonable services within the budget is what makes good government.
When it comes to economics and operating a fiscally responsible government, there are certain things that we must all remember that are vital to remaining economically sound.
I would like to present five key points that cover some of the basics of economics. First, we cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. Second, what one person receives without working for, another person must work for without receiving. Third, a government cannot give to anybody anything that the government does not take from somebody else first. Fourth, we cannot multiply wealth by dividing it. Fifth, when half of the people get the idea that they do not have to work because the other half is going to take care of them, and also when the other half gets the idea that it does no good to work because somebody else is going to get what they worked for, it is the beginning of the end of any nation.
All we have to do to realize this reality is to look at a number of European countries that are now in grave economic trouble.
These five points clearly outline the basic philosophy of how to succeed economically. The budget is very much in line with these points.
One of the main economic issues facing Canada in the past couple of years has been the deficit. No one enjoys paying down debt, but the hard truth is that it must be done. I am happy that economic action plan 2012 will address the need to reduce the national deficit and aim for a balanced budget by 2014.
To understand the importance of reducing this deficit, we can look to a simple example of managing and maintaining one's own house. There may come a time when the roof of a house needs replacing. It cannot be ignored, it has to be repaired. While the funds for this may not be immediately available, it is possible to take out a mortgage or loan so that this task may be completed. However once the roof is repaired there comes a time when that debt must be paid back.
Today, Canada has worked through the recent recession. With the aid of stimulus funding we were able to build a new roof for our country and we find ourselves reasonably economically sound.
However now that we have somewhat of an economic stability it is time to pay back what we owe. The 2012 budget addresses this by reducing the deficit in 2011-12 to be $8.5 billion lower than it was in 2010-11. Furthermore the budget would continue to lower the deficit in years to come. This is something we should be proud of.
As the member for Bruce--Grey--Owen Sound I represent a rural riding. I am happy about the commitment in economic action plan 2012 to support rural communities. There are strong programs and provisions in the budget that will ensure the stability and prosperity of economic growth in rural areas. One of these provisions would forgive portions of Canada's student loans for new family physicians, nurses and nurse practitioners who practise in rural areas. This would make rural areas, such as my riding, a more attractive place for up and coming doctors, nurses and other health care professionals. This would certainly help in ensuring that rural residents in Canada have the quality health care that they need and deserve.
In addition to advancing the medical field in rural areas, the budget also promotes economic growth in rural areas by providing $225 million to Industry Canada over three years. This funding would be used to develop and implement a strategy to extend broadband coverage to a number of rural communities. Anyone with a rural riding, and there are many across the country, knows there are still gaps in the ridings where that service is not there. This will help to address a lot of that. The new and improved Internet access for rural areas would ensure economic opportunities and would also provide access to valuable services that are needed to ensure economic stability in rural areas.
I was also very happy to see that the budget includes funding for Canada's port system. The budget calls for $27.3 million over two years to support regional port facilities and the continued operation and maintenance of federally owned ports. This funding would be very important in ensuring that Canada maintains a strong port system, which is a vital part of our national transportation system. For example, I have a number of ports in my riding and this funding has a potential benefit for Bruce—Grey—Owen Sound.
This budget would continue to provide tax credits for hard-working Canadians, while at the same time reducing the deficit and creating long-term prosperity for Canada. Our government has implemented many tax credits that put money back into the pockets of Canadians.
One of these tax credits is the very popular volunteer firefighters tax credit. Volunteer firefighters are a vital part of Canada's emergency response system. They provide volunteer service to their communities and willingly put themselves in danger to protect their communities. In 2011, our government recognized the contributions made by volunteer firefighters in Canada by introducing the volunteer firefighters tax credit. This credit is based on an amount of $3,000 to volunteer firefighters who perform at least 200 hours of service.
Another tax credit that our government introduced is the family caregiver tax credit. This tax credit gives support to those who take care of their families, whether they are dealing with cancer, MS or a number of medical issues. This is a very popular tax credit as well. There are many Canadians who are forced to stay home to support their loved ones, and our government recognizes their hard work through this tax credit. The credit is based on an amount of $2,000 for caregivers of ill dependants.
I am also pleased that economic action plan 2012 combines the ability to deplete the deficit, while at the same time providing beneficial tax credits, such as the volunteer firefighters and caregiver tax credit for hard-working, and certainly deserving, Canadians.
Along with the many tax credits we have provided are the tax cuts that the government has made to put money back in the pockets of Canadians. Our government has cut taxes over 140 times since 2006, and has also reduced GST from 7% to 6% to 5%. This will put nearly $1,000 back into the pocket of an average Canadian family.
It is very clear, Mr. Speaker, that this budget is on the right track for Canada. As I stated earlier, paying off our deficit is a top priority for Canada if we wish to continue to remain atop the world economic leaders. The budget would ensure that we start getting our deficit paid off while at the same time providing those tax credits I mentioned and tax cuts that would allow Canadians to keep their hard-earned money. The budget supports growth all over Canada, including supporting many rural areas by providing funding that would ensure economic prosperity in these regions.
I am very pleased with the budget and its commitment to jobs, growth and long-term prosperity, but also to debt reduction and creating a realistic plan for Canada. Just today, new job recovery numbers came out just as I was leaving my office. It was great news and certainly went beyond expectations. It is just another sign that this budget is taking us on the right track.
I urge all members in the House to really think about what the budget can do. It is realistic. It is not a fancy, dressed-up budget, it is just plain realistic, and I urge all members to support it.
