Mr. Speaker, I thank the member for Calgary Centre for his question.
Our government is working to implement a clear and ambitious plan to build a strong, united and resilient economy that serves Canadian businesses, workers and families. The Minister of Finance and National Revenue has already announced that he will present budget 2025 on November 4.
We are faced with a series of historic challenges, from unjust U.S. tariffs to constantly evolving global trade standards, on top of affordability and housing concerns. Budget 2025 will seize these generational opportunities to transform our economy. It will do this through ambitious investments, increased fiscal restraint and responsible management, ensuring that every dollar is spent wisely to build the strongest economy in the G7. This budget will invest heavily in housing and infrastructure. It will spur major private investment and establish new strategic agreements with trusted partners.
At the same time, our government is introducing a new fiscal discipline in its day-to-day operations, ensuring more efficient and reliable public services. This discipline allows us to focus resources where they matter most: on sustainable growth that will ensure Canada's prosperity today and for generations to come, from coast to coast to coast, including, I would like to point out, in La Prairie—Atateken.
We are also redoubling our efforts to make housing more affordable. Thanks to the GST relief on new homes valued up to $1 million, first-time homebuyers will be able to save up to $50,000. For new homes valued between $1 million and $1.5 million, a partial GST reduction will also apply to support more Canadian families hoping to become homeowners.
Through this same legislation, we eliminated the consumer carbon tax, refocusing carbon pricing on large emitters. To cite another example, the recent launch of the Build Canada Homes program will accelerate the construction of new housing to further reduce housing costs by increasing supply. We are not only transforming Canada's housing sector, we are streamlining federal approval processes to accelerate the construction of major projects.
We are doing all of this because Canadians have given us a clear mandate: to take bold action to stimulate economic growth, create well-paying jobs and ensure that all Canadians fully benefit from the exceptional talent and ingenuity that our country is known for, whether it be our strong free trade agreements, our collective wealth or our unique prosperity.
When faced with a choice between one of the world's top economists and a career politician who has never worked a day in the private sector, Canadians spoke loud and clear. Unlike the party opposite, we heard them, and in the global context of constant change, our government can reduce costs, reinforce stability and deliver greater security and prosperity for all Canadians precisely by carrying out this mandate.