Madam Speaker, as the member of Parliament for Brampton—Springdale, it is my honour to represent my constituents in the House. I am pleased to have the opportunity to participate in the debate on the budget 2011 implementation act entitled keeping Canada's economy and jobs growing act.
Our government continues to focus on the economic growth of our country. I am proud that Canada has the strongest job growth record in the G7 and that the International Monetary Fund regards our economic outlook for the next two years as promising despite the global economic turbulence.
Since July 2009, Canada has created nearly 600,000 net new jobs. We are the only G7 country that has regained more than all of the output and jobs lost during the downturn.
The current global economic difficulties are largely due to the lack of confidence in the efforts of other governments to reduce their deficits.
This is a great opportunity for Canada to demonstrate leadership by example. Many of the initiatives in this budget promote strong, sustainable and balanced growth for both the short term and the long term. By implementing them we can lead the way in promoting global recovery and strengthening market confidence.
As we are not immune to the effects of the difficulties facing the global economy, it is especially important to stay the course and implement the next phase of Canada's economic action plan.
The next phase of Canada's economic action plan will preserve our country's advantage in the global economy and benefit Canadians from coast to coast to coast including my own constituents in Brampton—Springdale.
The first phase of Canada's economic action plan had a significant positive impact in my riding. The partnership between our government and the city of Brampton resulted in the creation of thousands of jobs and the revitalization of important community spaces, such as Chinguacousy Park and nine recreation centres.
These projects demonstrate the remarkable success of the first phase of the economic action plan in my riding. I look forward to the achievements of the next phase and the positive results it will produce for businesses, communities, families, students and seniors.
In Brampton—Springdale, many small business owners will profit from the temporary hiring credit for small businesses which will allow them to hire additional employees, creating more jobs and improving the growth of our local economy. Many of them will also benefit from the simplification of customs tariffs which will make trade easier and lower the administrative burden on their businesses.
We also have a large manufacturing base in the city of Brampton which will profit from the accelerated capital cost allowance. This will allow manufacturers in my riding to continue to invest in necessary equipment and machinery that will promote industry growth and economic advancement.
Our government has named 2011 the year of the entrepreneur. Along with the other measures aimed to support small businesses and manufacturers, this budget encourages young people to pursue their dreams by allocating $20 million to the Canadian Youth Business Foundation.
The Canadian Youth Business Foundation will use this money to provide start-up financing and mentorship possibilities that will enable young Canadians to start over 1,000 new businesses that could be expected to create over 6,700 new jobs.
I am proud that the government is investing in a better future for our youth by providing support to young entrepreneurs. I strongly encourage young Bramptonians to turn their bright ideas into successful businesses.
The keeping Canada's economy and jobs growing act works to provide additional support for communities across Canada. It legislates a permanent annual investment of $2 billion in the gas tax fund which will provide dependable long-term funding for infrastructure in municipalities.
Bramptonians have already seen the great benefit of this funding in their transit system. The millions of dollars the City of Brampton has received have been allocated toward various transit initiatives that have worked and will continue to work toward improving the quality and efficiency of public transit in our community. These initiatives have also created numerous jobs in Brampton, which is an added benefit to our local economy.
I am pleased that the government is emphasizing the importance of family with the new family caregiver tax credit. This credit would ease the burden on families in my riding who are caring for infirm dependent relatives. Their selfless service and commitment to family members is praiseworthy and enhances the quality of life for everyone in our community. These families need to be supported.
Families will also benefit from the removal of the $10,000 limit on the amount of eligible expenses a caregiver can claim on behalf of a financially-dependent relative under the medical expense tax credit.
The new children's art tax credit will allow families in our riding to enrol their children in programs that are centred on artistic, cultural, recreational and developmental activities.
Families in Brampton—Springdale will also greatly appreciate the investments in education provided by the next phase of Canada's economic action plan. Occupational, trade and professional examination fees will now be eligible for the tuition tax credit which will help apprentices in skilled trades and workers in regulated professions receive the certification they need to get into their chosen profession.
Our riding has a growing student population and families will benefit from improved financial assistance for students as well as measures that make it easier to allocate registered education savings plan assets among siblings without incurring tax penalties or forfeiting Canada education savings grants. This will make it possible for more young people to attend and graduate from colleges and universities.
Education is extremely important for the long-term economic health of both our local communities and our country. Not only is our government supporting caregiving and education, the budget provides much needed support for Canadian seniors by enhancing the guaranteed income supplement, expanding the new horizons for seniors program and eliminating the mandatory retirement age for federally-regulated employees.
As the member of Parliament for Brampton—Springdale, it is my pleasure to support the next phase of Canada's economic action plan. It provides support to small businesses, families, students and seniors in my riding that will allow our community to continue to prosper, even in uncertain economic times.
The investments and tax credits in the budget will directly benefit our local economy, which will in turn contribute to the overall well-being of our great country.
I look forward to assisting my hard-working constituents access many of these new benefits in the years to come and a future wherein the job market and our economy continues to grow.
Canadians gave our government a strong mandate to stay focused on what matters: creating jobs and economic growth. This budget does just that.