Mr. Speaker, I appreciate the opportunity to discuss Bill C-74 and the measures in budget 2018. This budget implementation act is the government's latest phase in growing and strengthening the middle class, promoting equality, and investing in the economy of the future. It is important to take a step back to see how Canadians have fared over these past couple of years. The government's plan to grow the middle class is working. Our plan is working because Canadians are working.
Over the last two years, hard-working Canadians have created nearly 600,000 new jobs, most of them full time. Unemployment rates are near the lowest levels that we have seen in over 40 years. Since 2016, Canada has led all other G7 countries in economic growth. As a result, we are able to continue to invest in the things that matter to Canadians while making steady improvements to the government's bottom line. Two weeks ago, the Minister of Infrastructure and Communities announced that the Government of British Columbia and the Government of Canada have come to an agreement on the investing in Canada infrastructure plan announced in budget 2016. Speaking as a representative from British Columbia, under the agreement, British Columbia will receive $4.1 billion from 2018 to 2028, making significant investments in our communities' public, recreational, green, and rural infrastructure. Let me also reassure my hon. colleagues that the government is being diligent in making sure that Canada remains the best place to invest, create jobs, and do business. Our future prosperity depends on making sure that every Canadian has an equal and fair chance at success.
For many Canadians, being a parent and raising a family is the most important part of their lives. Employment insurance maternity and parental benefits offer vital income support to parents during the critical period in early childhood when they need to take time off from work to care for their children. Through budget 2018, our government is proposing a new EI parental sharing benefit to support equality in the home and workplace, by providing up to eight additional weeks of benefits when both parents agree to share parental leave. This “use it or lose it“ incentive encourages a second parent in two-parent families to share the work of raising their children more equally. This new EI parental sharing benefit would allow greater flexibility for new mothers and fathers who want to return to work sooner if they so choose, knowing that their families have the support they need; supporting all two-parent families, including adoptive parents and same-sex couples; and allowing parents to share more family and home responsibilities, leading to fairer, less discriminatory hiring practices for women, because men and women have the option to stay at home with their children equally. We need to ensure that the benefits of a growing economy are felt by more and more people.
At this point, I would like to turn to our support for veterans. In my riding and across the country, we are grateful to the men and women who have served and are serving in uniform. It is our responsibility to ensure that they get the services and support they are owed. In West Vancouver—Sunshine Coast—Sea to Sky Country, we have nine Legions, and nine remarkable ceremonies on Remembrance Day. These continue to grow in terms of attendance and reflect the deep regard of Canadians for veterans. We know it is our duty to uphold the men and women who serve our nation in uniform. We need to listen to and take action to support our veterans who have served with valour, dignity, and sacrifice. The Government of Canada is committed to supporting Canada's veterans and their families. We owe an enormous debt of gratitude to them, and I am pleased to offer comments outlining our commitment.
On December 20, 2017, the government unveiled its pension for life plan, a program designed to reduce the complexity of support programs available to veterans and their families. It proposes a broader range of benefits, including financial stability to Canada's veterans, with a particular focus on support for veterans with the most severe disabilities. Taking a closer look, the three new benefits that provide recognition, income support, and stability to Canada's veterans who experience a service-related injury or illness look like this. The pension for life plan would provide, under pain and suffering compensation, a monthly tax-free payment for life of up to $1,150 for ill and injured veterans. The plan also proposes, for additional pain and suffering compensation, a monthly tax-free payment for life of up to $1,500 for veterans whose injuries greatly impact their quality of life. The plan also proposes to provide an income replacement benefit, that is, monthly income replacement at 90% of a veteran's pre-release salary.
These new elements represent an additional investment of almost $3.6 billion to support Canada's veterans. These new services and benefits would impact lives significantly. Pension for life would mean that a 25-year-old retired corporal who is 100% disabled would receive more than $5,800 in monthly support. For a 50-year-old retired major who is 100% disabled, monthly support would be almost $9,000.
The bill before us includes amendments to the Pension Act and the Veterans Well-being Act to put measures of the pension for life plan into effect. It would also provide income replacement at 90% of pre-release salary for veterans who are facing barriers returning to work after military service.
The government recognizes that psychiatric service dogs play an important role in helping Canadians cope with conditions like post-traumatic stress disorder. Through this bill, the government proposes to expand the medical expense tax credit to recognize costs for these animals for 2018 and future tax years. This measure would directly benefit veterans and others in the disability community who rely on psychiatric service dogs. This measure also complements the work of organizations that support them, such as the Royal Canadian Legion, and Paws Fur Thought, which provide service dogs to veterans and first responders with invisible disabilities.
In conclusion, to face the challenges of today and tomorrow, we will need the hard work, health, and creativity of all Canadians, including our veterans and seniors. One of the ways to help make that happen is by strengthening the programs that make the biggest difference in people's lives and by making those benefits easier to get.
Since 2016, the government has put in place substantial improvements to the benefits and services available for veterans. For example, the government has raised financial supports for veterans and caregivers, introduced new education and training benefits, and expanded a range of services available to the families of medically released veterans. When combined with existing services and benefits to help veterans in a wide range of areas, including education, employment, caregiver support, and physical and mental health, the Government of Canada's investments since 2016 add up to nearly $10 billion. These investments are the right thing to do to honour our nation's veterans, seniors, and all Canadians.
For that reason, I urge my colleagues to support the budget implementation act.