Mr. Speaker, our government has tabled its first budget, and as you have seen, we are following through on the commitments we have made to Canadians. The budget implementation act no. 1 is a critical step toward revitalizing the economy and to providing support to the middle class and creating the conditions for long-term growth.
We would do this by making significant investments in infrastructure, with over $60 billion over the next 10 years in public transit, green infrastructure, and social infrastructure. We would do this through the introduction of the Canada child benefit. We would do this by providing help to our most vulnerable seniors.
Canada is facing a difficult economic situation. We know that. We also know that Canada is coming off 10 years of weak economic growth, and we are taking steps to address that at the same time as we are creating opportunities for the middle class and for all Canadians, for jobs, for affordable living arrangements, and for new places to work and rehabilitative places to play. As we lay the foundation for long-term and sustained growth, we are also looking at the immediate needs of the country and its citizens, which our budget addresses.
As we have committed, we would be investing in three strategic areas: public transit, green infrastructure, and social infrastructure. Everyone in this room knows that there are significant benefits to infrastructure investments in the short, medium, and long term. Well-planned investments in infrastructure generate economic growth, create jobs, and leave a lasting legacy for Canadians. Infrastructure is the foundation that shapes our communities making them more liveable and sustainable, and providing the places where we want to live, work, and play.
Our infrastructure investments must be made strategically, collaboratively, and with a long-term vision. They need to focus on projects that are not only shovel-ready, but also shovel-worthy. All orders of government have a role to play in building strong communities and a strong country.
The Minister of Infrastructure and Communities worked collaboratively with government partners and indigenous communities, as well as stakeholder and municipal association partners. Thanks to their input and their work, we have an infrastructure plan that would support the long-term and short-term needs of the country. As we implement the short-term aspects of this plan, it would be through collaboration with these same partners that we would be successful at rehabilitating, recapitalizing, and renewing the infrastructure we have.
By focusing on repairing our existing infrastructure, we can fix what we have now instead of delaying and paying more to fix it later. These investments are critically important to improving the lives of middle-class Canadians. They would make it easier to get around our country, to find jobs, and to build a future. However, it is far from the only thing we would do to help the middle class.
The Canada child benefit, which I mentioned earlier, would be the most significant development in this country's social policy in a generation. It would be far more generous than the universal child care benefit it replaces, giving nine in 10 Canadian families more money in their pockets each month. On average, families would receive $2,300 more per year. That is more money to spend on sports programs, school supplies, music lessons, and trips to the museums. Unlike the universal child care benefit, our new Canada child benefit would be tax-free.
Our government believes strongly that Canadians should not have to pay taxes on benefits given to them by their government to help improve their children's lives. The CCB would also be simpler than the universal child care benefit. The previous government's hodgepodge of child care benefits was confusing, and that made it difficult to access for far too many families. Now families can look forward to a cheque in the mail each and every month.
Finally, and perhaps most importantly, the new Canada child benefit would be fairer than the program it replaces. Why? It is because, unlike the UCCB, the benefit is means-tested. It would deliver the maximum benefit to those who need it the most and be gradually reduced according to income. This means that the government would no longer be sending cheques to millionaires and instead would be able to provide more significant, much-needed relief to those who need it most, to help them as they work to build a better future for themselves and for their children.
A single mom with one child under the age of six and earning $30,000 a year will receive an annual benefit of $6,400 tax-free, while a family with two children, one six or older and one under six, earning approximately $90,000 will receive $5,600, or $2,500 more than they get today under the current system.
This is about more than just extra pocket money. It is about empowering middle-class families, boosting local economies and giving parents a little extra confidence when planning for the future.
Equally important, however, is how Canadians expect to spend their later years. Our seniors have worked their entire lives, started businesses, raised children, contributed to their communities, and paid their taxes. Bill C-15 makes significant new investments to support seniors in their retirement years.
Canada's retirement income system has generally been successful in reducing the incidence of poverty among Canadian seniors over time, but some seniors continue to be at a heightened risk of living on a low income, especially seniors who live alone.
Single seniors are nearly three times more likely to live in low income, and that seems like a particularly unfair set of circumstances. That is why today's legislation will increase the guaranteed income supplement top-up benefit by more than $947 annually for the most vulnerable single seniors, starting in July 2016. This will help support those seniors who are most at risk of experiencing financial difficulties. This enhancement more than doubles the current maximum top-up and will improve the financial security of about 900,000 single seniors across Canada.
Our government has an ambitious plan to support the middle class and those working hard to join it. Each and every member from this party is invested in seeing this agenda realized. With the introduction of budget 2016 and the budget implementation act, we are one step closer to fulfilling our promise to Canadians, but we will not stop there. This government will work each and every day to better the lives of Canadians. We will never stop and we will not be satisfied until each and every person in this country has a fair shot at success.