Mr. Speaker, I will be sharing my time with the member for Saint Boniface—Saint Vital.

It was truly a pleasure for me to sit in this House as the representative of the people of St. John's East when the Minister of Finance presented the government's priorities.

During the three weeks since budget 2016 was laid before the House, I have had the opportunity to visit with many groups in St. John's East. We discussed their pleasure with the new direction our federal government is taking and the opportunity it signals to the local business community.

Economic indicators show that nationally, companies may already be investing with newfound confidence now that they have a government that is prepared to invest as well.

However, in my riding, people are anxiously awaiting the provincial budget to be delivered later today by the Newfoundland and Labrador Minister of Finance, Cathy Bennett. She has the difficult task of squaring the fiscal realities of a devastating collapse in oil prices with an aging population and a shrinking workforce. A $2-billion deficit such as was experienced in Newfoundland and Labrador last year would be akin to Canada running on a $140-billion deficit and is not sustainable.

However, the people of St. John's East are glad to know that the Government of Canada supports them and is here to help in tough times.

Infrastructure spending is important, but there are three other ways of particular importance to my community the budget will help Newfoundland and Labrador, and I hope these may convince the other progressives in this chamber to support the budget: support for seniors; the Canada child benefit; and support for our scientists.

Budget 2016 shows compassion for those seeking to retire and age with dignity. We understand that many seniors are suffering, and budget 2016 seeks to help them.

Budget 2016 will lift hundreds of thousands of children out of poverty. My constituents are heartened to see that we are delivering on this promise immediately, notwithstanding a worse than expected economic forecast.

Finally, budget 2016 supports innovation, research, and entrepreneurship. The Liberal government has listened and understands the role that Canadians expect us to play in helping support economic growth in 21st century jobs.

First of all, the previous government raised the age of eligibility for old age security to 67. I believe that was a mistake. Our party campaigned against that change. Budget 2016 fulfills our promise to restore the age of eligibility for old age security to 65.

Second, the budget proposes to increase the guaranteed income supplement for single seniors by up to $947 annually. Single seniors are the most vulnerable. This increase will be in place starting in July 2016.

By supporting those seniors who rely almost exclusively upon old age security and the guaranteed income supplement and may therefore be at risk of experiencing financial difficulties, the government is delivering upon our commitment to improve the quality of life for seniors most at risk.

Third, in order to ensure that the true higher levels of inflation that are experienced by seniors are taken into account, the government has committed to indexing the OAS and the guaranteed income supplement to a more generous seniors price index.

To help address child poverty, the CCB, or Canada child benefit, which replaces the Canada child tax benefit and the universal child care benefit, will be paid monthly to eligible families beginning in July 2016.

The CCB will be simpler. Families will receive just one payment every month. Since the CCB is non-taxable, families will not have to pay back a portion of the payments they receive when they pay their taxes.

The CCB is better targeted to those who need it most. Lower- and middle-income families will receive more money, while those who have higher incomes will receive less money than under the current system.

Since the CCB is more generous, families who receive it will see an average increase in benefits of nearly $2,300 over the next year.

Nine out of 10 families will receive more money through this child benefit than under the current system. This will lift about 300,000 children out of poverty right away.

This is a more simple, tax-free, better targeted, and more generous benefit, one of which Canadians can and should be proud.

With respect to innovation and investment, Memorial University of Newfoundland is a key participant in past and future economic growth in my province and our country. Its main campus as well as its marine institute campus are both located in my riding of St. John's East.

The post-secondary institutions strategic investment fund will provide $2 billion over the next three years toward improving research and innovation infrastructure. This initiative has tremendous potential to harness the creativity of the dedicated researchers at Canada's world-class post-secondary institutions.

Canada's post-secondary institutions and affiliated research and commercialization organizations are at the front line for fostering science and research excellence. They train the workforce of tomorrow and create knowledge and insight necessary for a thriving clean economy. This strategic investment fund will enhance and modernize research commercialization facilities on Canadian campuses and will improve the environmental sustainability of these facilities.

The new fund will open new pathways for the future success of our institutions. For example, a university could repurpose and modernize underutilized space for use in a specialized field of strength or to meet energy efficiency standards. A college could create sector-specific training facilities in the Red Seal trades. On-campus business and technology incubators could be expanded to better support entrepreneurs and start-ups. Where these institutions support prototype development or proof-of-principle assessment, the program will be indirectly supporting the industry partners of those institutions.

As part of budget 2016, the Government of Canada has also proposed more funding, an additional $95 million a year, for granting councils to support discovery research, including $30 million for the Canadian Institutes of Health Research, $30 million for the Natural Sciences and Engineering Research Council, $16 million for the Social Sciences and Humanities Research Council, and $19 million for the research support fund, to support the indirect costs associated with federally sponsored research undertaken at outside institutions. This more than triples the funding provided to the granting councils in 2015. It increases it to $140 million this year alone.

Support for science and innovation does not stop there, with other measures to support internships, fellowships, genetics research, theoretical physics, stem cell research, and funding for the commercialization of health research. Our government understands and supports the independent work of scientists and their role in developing a modern economy.

Memorial University hopes to benefit in key research areas where it is a leader, such as in cold oceans research, naval architecture, oil and gas engineering, medicine, and many others.

These measures are pivotal. They are necessary to grow the middle class and revitalize the Canadian economy, and they also chart a new course to growing the middle class. Real change is being delivered.

Last October, Canadians sent a clear message that they wanted real change, both in how government does things and what it is doing. They asked for a government that would deliver on its commitments and would be focused on what matters most to them, like caring for our seniors, lifting children out of poverty, growing the economy, creating jobs, strengthening the middle class and those working hard to join it.

We are listening to what Canadians need, and our policies and this budget reflect what we have heard.

For my province, this also includes certain targeted measures which demonstrate an understanding of our local situation. Federal transfers are increasing by $31 million this year, in addition to the almost $32 million in stabilization funding in the last fiscal year; $5 million to help grow much-needed public transit; $134 million in accelerated infrastructure spending; and $22 million for an improved ferry mooring system for Marine Atlantic. As well, many of the changes to EI provide essential support to Newfoundland and Labrador during this commodity prices crisis.

With evidence-based policy and a sense of fairness, budget 2016 ensures that Newfoundland and Labrador will not be left behind and Canada's best days lie ahead.

Nick Whalen

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