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Member of Parliament

Chandra Arya

  • Member of Parliament
  • Member of Parliament
  • Liberal
  • Nepean
  • Ontario
  • Voting Attendance: 67%
  • Expenses Last Quarter: $104,578.46

  • Government Page
Context: House Hansard - 302 - Apr/18/24
Mr. Chandra Arya (Nepean, Lib.)
  • Apr/18/24 12:44:19 p.m.
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Madam Speaker, I will be sharing my time with the member for Milton. I entered politics with three main objectives: first, affordable housing for all Canadians; second, provide secure retirement income security to 11 million working Canadians without workplace pensions; and third, ensure Canadian society and the economy remain robust and competitive in the global knowledge-based economy thus securing prosperity for our children and grandchildren. On my first objective, in the budget, we have announced tremendous investments for housing, continuing our focus on what we had earlier introduced, the national housing strategy. On my second objective, we have reformed the Canada pension plan to secure retirement income for Canadians, and we have also introduced various targeted programs to support seniors. On my third objective on securing Canada's position in the changing global knowledge-based economy, we have redoubled our efforts through this budget. Canada has been the best country in the world because of our rich natural resources like oil and gas, minerals and metals, strong agricultural sector, and the hard work of several generations of Canadians, including the present day seniors. However, there are major changes happening in the global economy that have a direct impact on the Canadian economy, which have consequences on Canadian prosperity. Globalization as we knew it for last several decades has disappeared. Now we are moving toward onshoring, nearshoring and friend-shoring. The world is in this great transition phase and Canada has to act fast to secure our place in the new global economic order. We foresaw this coming and hence adopted policies to strengthen our manufacturing sector and focused on the knowledge-based sector. We have made, and continue make, major investments in many economic sectors, including the manufacturing sector and sectors focused on advanced technologies. Before I continue on the budget focus of advanced technologies, including artificial intelligence, let me first note few points. In the fall, we set three very specific fiscal guideposts. In this budget, each one of the three objectives we set last fall are being met and so is our fiscal anchor, with a declining federal debt-to-GDP ratio over the medium term. In fact, Canada has the lowest deficit-to-GDP ratio and net debt-to-GDP ratio in the G7, and we continue to maintain our AAA credit rating. We have a vision for Canada’s future that is innovative, inclusive and industrious. I wish to highlight the critical role that innovation and advanced technologies play in shaping the future of Canada’s economy. In a world that is rapidly transforming through technological advancements, it is imperative that Canada not only keeps pace but leads the charge in the global innovation race. Innovation is the cornerstone of economic resilience and growth. It drives productivity, creates high-quality jobs and fosters competitive industries. Through advanced technologies, we can solve some of our most pressing challenges, from climate change to health care, and enhancing the quality of life for all Canadians while ensuring sustainable development. Canada’s commitment to technological advancement is evident in our strategic investments in sectors like artificial intelligence, quantum computing and clean technology. These sectors are not merely areas of academic interest; they are the engines of our future economy. By investing in these areas, we are setting the stage for a new era of industrial and technological leadership. Advanced technologies also bring tremendous economic benefits. They open up new markets, enable Canadian businesses to compete globally and attract foreign investment. Every dollar invested in innovation multiplies across the economy, generating wealth and opportunities that extend through every province and sector. Moreover, the adoption of these technologies ensures that Canada remains a desirable destination for talented innovators and entrepreneurs from around the world. By embracing advanced technologies, we are building a robust ecosystem that nurtures creativity and turns innovative ideas into tangible solutions that benefit society as a whole. As an example of our commitment, let me mention a subject that stands at the very heart of our future economic prosperity and global leadership, artificial intelligence, or AI. Our nation has already made significant strides in this field and it is crucial that we understand and support the ongoing efforts and strategic investments that will solidify Canada's position as a world leader in AI technology. Since 2017, we have dedicated over $2 billion to nurture our AI ecosystem, establishing Canada as a beacon of innovation and expertise in the global arena. This dedication has borne fruit in numerous ways. We are globally recognized for our strong AI talent, research capabilities and a rapidly growing AI sector that leads the G7 in several key metrics, including the growth of women in AI and year-over-year growth of AI talent. Our researchers and companies have not only kept pace but have set international benchmarks, publishing more AI-related papers per capita than any other G7 country since 2019. Our AI firms are also at the forefront of innovation, filing patents at three times the average rate in the G7 and attracting a significant portion of venture capital in Canada. Last year alone, the number of actively engaged AI professionals in Canada grew by 29%, underscoring a vibrant and expanding workforce dedicated to advancing this technology. However, our ambition does not stop with past successes. Recognizing the transformative potential of AI, we have launched pioneering initiatives like the world’s first national AI strategy, the pan-Canadian artificial intelligence strategy, yet we face challenges that could stymie our progress. Currently, most advanced computing capacity, which is crucial for AI development, is located outside Canada. This not only slows down our research and innovation, but also poses security risks and dependencies on foreign technology. To address these challenges and propel us forward, budget 2024 announced a historic investment in AI, $2.4 billion targeted at enhancing our AI capabilities. This includes $2 billion for establishing the AI compute access fund and the Canadian AI sovereign compute strategy, which aims to catalyze the development of Canadian-owned AI infrastructure and reduce our reliance on external resources. An additional $200 million will support AI start-ups and accelerate AI adoption in crucial sectors like agriculture, health care and manufacturing. It is only through our collective effort and shared vision that we can realize the full potential of AI and secure Canada’s advantage on this critical frontier. The importance of innovation and advanced technologies to Canada’s economy cannot be overstated. As we look forward, let us continue to invest in the technologies of tomorrow and ensure that Canada remains at the forefront of global innovation. Let us be bold in our ambitions and steadfast in our commitment to a prosperous, technologically advanced Canada.
1126 words
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