Mr. Speaker, I will be splitting my time with the member for Mississauga—Erindale, who has done an exemplary job. Although he is a new member to the House, he joins us in the finance committee and brings a tremendous wealth of knowledge. We enjoy having him there. We enjoy the expert advice that he provides. His constituents should feel privileged to have him as their representative in the House. Whenever the next election may be, we look forward to more Conservatives joining us from the great province of Ontario.
From the onset, in the 360-page 2009 budget document it would be inconceivable for there not to be disagreement in the House on many initiatives contained within those pages. However, that should not distract members from remembering the majority of initiatives in the budget have received overwhelming support across Canada, including in Quebec.
While the Bloc Québécois will launch attacks chalked full of excessive hyperbole and mock outrage about the budget, I want to add a positive note to the proceedings here today. In their rush to condemn the budget as loudly and frequently as possible, it might have alluded our friends from the Bloc that a lot of people in their own province really liked it.
I wonder if, before condemning the budget, the Bloc actually read it and truly listened to the reactions of those in the province it claims to represent.
Did it listen to Laval Mayor Gilles Vaillancourt, who praised the budget as “an appropriate response to the situation we're living through”?
Did it listen to Robert Coulombe, head of Union des municipalités du Québec and Maniwaki mayor, who proclaimed it “extremely encouraging”?
Did it listen to Jean Perrault, president of the Federation of Canadian Municipalities and mayor of Sherbrooke, who heralded the budget for taking “concrete action to create new jobs, fight the recession and invest in a safer, greener, more competitive Canada”?
Did it listen to the Conference of Rectors and Principals of Quebec Universities that applauded the budget as it “will assist universities in catching up on a portion of their accumulated deferred maintenance, and contribute to efforts...to stimulate a rapid economic recovery”?
Did it listen to what the Board of Trade of Metropolitan Montreal said when it declared the budget was “on target with measures designed to support companies, including easier access to credit, tax breaks, and tariff relief to stimulate investment”? The list goes on and on.
We could literally spend all day reading the positive reactions in response to budget 2009 in Quebec, reactions that the Bloc has apparently not heard, read or seen. What, pray tell, incredulous Bloc MPs are now wondering caused such a glowing reaction to budget 2009 in la belle province? Again, we could literally spend all day answering such a question, but let me, in a most succinct and expedited fashion, attempt to educate the Bloc members across the way in my time remaining.
As we all know, budget 2009, Canada's economic action plan, will inject almost $30 billion in timely stimulus, equivalent to 1.9% of our GDP, into the Canadian economy this year.
Quebec, like all provinces, will benefit from this plan. Quebec will receive its share of $4.5 billion over two years for infrastructure projects such as roads, water and sewer system upgrades across the entire province. The plan also accelerates payments up to $75 million over two years for additional infrastructure projects.
The people and businesses of Quebec will see the federal government take less of their money, with action to keep EI rates low for 2009-10 and tax relief of $4.2 billion over the next five years, significant and broad tax relief ranging from increases in the basic personal amount, enhancements to the working income tax benefit, a $1,000 increase in the age credit, a temporary home renovation tax credit, along with targeted measures to support manufacturers and small businesses. Indeed, it is estimated that the temporary home renovation tax credit alone would save eligible Quebec taxpayers $553 million over two years.
Moreover, we are also investing billions in quality social housing, a move that would further stimulate the construction sector while also enhancing energy efficiency and providing a hand-up for low-income Canadians.
We are taking action to improve access to financing for businesses to obtain the resources they need to invest, grow and create new jobs and give consumers the adequate financing that they need. This is in addition to significant action we are taking to support businesses and communities with new assistance for sectors, such as forestry and manufacturing, as well as the regions and communities that depend on them.
We are also helping those hardest hit by the economic downturn by enhancing employment insurance and providing more funding for skills and training, including for older workers.
Other initiatives that would specifically benefit Quebec include: over $400 million to VIA Rail Canada to support improvements to the Quebec City-Windsor corridor; over $200 million to rehabilitate one of Canada's busiest bridges, the Champlain Bridge in Montreal; $2 million to develop a plan for the future of the historic Manège Militaire in Quebec City that was sadly ravaged by fire last year; millions for infrastructure to promote international cruise ship tourism along the St. Lawrence and Saguenay rivers; as well as millions for repairs, construction and reconstruction in three harbours in the Gaspé region. The list goes on and on. We could spend all day on it.
Having interjected that positive note into today's debate, I must now turn my attention to the Bloc's motion that would have us renounce a budget many Quebeckers are quite fond of, and what is worse, would do so on an exceedingly weak and flawed basis.
First, the assertion that transfers to Quebec have been, or will be, cut is utter and complete nonsense. Even a cursory examination of the figures quickly reveals this is not a credible position for any reasonable individual to take.
Under our Conservative government, total transfer support to Quebec is at an all-time high and will continue to grow. It currently stands at more than $17.6 billion, nearly a third of federal major transfer support to provinces, significantly greater than Quebec's share of Canada's population. In 2009-10, Quebec will receive over $8.3 billion in equalization, an increase of 74% over the last year of the previous Liberal government. This is the largest among equalization receiving provinces. What is more, Quebec's equalization payments as a percentage of the province's GDP is now at the highest level since the early 1980s. It is at an all-time high as a share of Quebec's program spending.
Second, the idea that the budget would be an intolerable intrusion, and I quote when I say that, into provincial jurisdiction with respect to securities is also just a myth. If one actually read the budget, one would clearly see we have pledged to enhance Canada's securities regulatory framework by working with willing partners to establish a Canadian securities regulator that respects constitutional jurisdiction, regional interests and expertise. I underline the word “willing”.
We have all heard the arguments in favour of improved security regulations, and I will not repeat them here today. However, I will quote from The Globe and Mail:
[I]f there had been a single national securities commission in Canada...the Caisse de depot...might not have suffered grave losses on ABCP [asset-backed commercial paper].... [T]he core economic interests of all provinces would be better served by national unity and a national investment marketplace.
In conclusion, I urge all members to actually read the budget, listen to the wonderful reaction we are hearing to it and vote no to this motion and yes to the positive document called our budget.
