Mr. Speaker, I am pleased to speak today on the budget implementation act.
Budget 2018 represents an opportunity to unlock the full potential of our economy by ensuring that every individual has the chance to succeed. As the member of Parliament for Markham—Thornhill, I am honoured to stand in this House and speak in support of this budget.
I have spent the last year in conversations with my constituents, meeting vibrant female entrepreneurs who had an idea and chased it, feeling the tide of representation finally moving in their favour; shaking the hands of the researchers who feel the support of their government as they reach for tomorrow's great discovery; and introducing myself to hard-working moms and dads, who work tirelessly to get their kids to school before the bell and for the first time have enough money to register their kids in soccer this summer.
I have seen, over this year, the effects of this government's intentional leadership in my community of Markham—Thornhill. Therefore, I am thrilled to support the continued decision of this government to place our country's shared goals at the centre of budget 2018. These are goals like ensuring that women and girls have an equal opportunity to thrive, preserving and celebrating the diversity that is so integral to the fabric of this country, and supporting middle-class families as the backbone of our economy.
Our budget is not just a fiscal plan but a plan for all Canadians. We believe that when each individual in our society is supported and given the chance to succeed, the entire country thrives.
Are we taking women in the workplace into consideration, for example?
It is for women like Vivian Chen, owner of Bakery 18 in Markham, whose business supplies large grocery chains and supports newcomers through stable employment. It is for women like Linda Zhang, the president of the Canada China Club, which is a not-for-profit that helps brings jobs and business opportunities to Markham and cities in Canada. It is for women like Sylvia Chan, owner of the Creative Genius Art Academy, an after-school art program that supports young artists in the community. Despite their shared ambition and success, these women still encounter obstacles as a result of being women.
With budget 2018, we are investing in levelling the playing field. Our new women entrepreneurship strategy provides $1.6 billion over three years in financing for women in business. We are also providing $130 million over five years for venture capital investments for women-led tech firms and $115 million to address the challenges women entrepreneurs face when developing and growing their businesses. With budget 2018, we are taking action to boost women entrepreneurs like Vivian, Linda, and Sylvia in Markham—Thornhill and across our country.
What is more, our government is taking a historic step to introduce proactive pay equity legislation to make sure that women and men in federally regulated sectors will receive equal pay for equal work, because this government understands what I fundamentally believe: only when women realize their full potential can our economy and society be truly successful. Therefore, to the women in the workforce tired of coming up against obstacles they should not have to face, we hear them, we support them, and we will help them succeed.
We are also building on the innovation and skills plan that this government announced last year and transforming federal innovation programs to better support Canadian business innovators. Four flagship platforms will help businesses access innovation programs by cutting red tape and streamlining processes for entrepreneurs. The enhanced industrial research assistance program, IRAP, will support the development of projects of up to $10 million, while a more focused strategic innovation fund will now support projects over $10 million. The expanded Canadian trade commissioner service will help Canadian businesses access new opportunities in markets around the world.
This government recognizes that when small businesses succeed, the Canadian economy succeeds.
That is why we have continued to support small businesses by following through on our promise to lower the small business tax rate to 9%, saving these businesses up to $7,500 a year.
These measures have a direct impact on communities like Markham. From family businesses like Chauhan's India Grill House to innovative tech entrepreneurs like Peytec, one of the many companies in Markham's own venture lab, budget 2018 would ensure that Markham continues to be the hub for innovation and Canada's high-tech capital.
To the small family businesses looking to expand or the mid-sized firms looking to scale, their businesses are important to this country, and we will help them grow. However, we cannot innovate economically if we do not support the research that makes innovation possible.
From open-heart surgery to the discovery of insulin, Canadian research benefits not just Canadians, but the whole world.
Canada must continue to be a global leader in research and innovation. That is why in budget 2018 we are proposing the single largest investment in fundamental research in Canadian history. This will total over $3 billion in funding over five years. Of this, $1.7 billion will support Canada's granting councils and research institutes, impacting about 21,000 students and researchers. We are also investing $1.3 billion in lab infrastructure that Canadians use every day.
Pond Technologies Inc. is an example of what can happen when research meets entrepreneurship. The company's research has developed a technology that can burn CO2 from any source into valuable bio-products, which can solve such global sustainability issues as climate change and food shortages. Pond Technologies began as an idea, was fostered through research, and has grown now into a company that is creating jobs in Markham.
For students and researchers at institutions like Seneca College or York University, whose new campus will be in Markham, this means more support to continue their work on the leading edge of tomorrow's biggest discoveries. From graduate students working in the lab, to early career researchers establishing a path, to pioneers at all levels of research and academia, this government believes in their potential and supports their work.
The broad themes of budget 2018 are equality and growth.
Not a single Canadian should be left behind in that progress, which is why budget 2018 would ensure support for all facets of Canadian society, youth, seniors, and diverse cultural communities included.
The government is enhancing our youth employment strategy through an investment of $448 million over five years to help young Canadians gain valuable skills, work experience, and job opportunities.
Budget 2018 proposes $23 million to support multiculturalism programs and a national anti-racism strategy, an investment that would also address discrimination targeted toward indigenous people.
The community of Markham—Thornhill thrives not in spite of its diversity but because of it. The Markham African Caribbean Canadian Association, the Federation of Chinese Canadians in Markham, and many others in our community are the kinds of organizations that can act as examples for the government as it works to increase inclusion. To the people who feel that they do not belong, we see the strength of their diversity, and we will help them thrive.
In order to build on our past innovations for future growth, it is fundamental to support middle-class families so that every individual has the opportunity to succeed. We introduced the Canada child benefit in 2016, and last fall we committed to indexing the CCB to keep up with the cost of living. This will ensure that nearly six million children currently benefiting from the CCB will continue to be supported.
Budget 2018 introduced the Canada workers benefit, which would help an estimated 300,000 additional workers and would help lift 70,000 Canadians out of poverty. We are working hard for the middle class and those working hard to join it.
Budget 2018 is an opportunity. It is an opportunity to ensure that every Canadian has a real and fair chance at success. For women building a business or career, this budget is for them. For researchers working on their next great discovery, this budget is for them. For entrepreneurs with a brilliant idea, this budget is for them. For middle-class workers supporting their families, this budget is for them.
That is why I am proud to support budget 2018.
