Madam Speaker, I am pleased to contribute to the debate this evening. Let me remind the House that over the last four years, our government's plan has been focused squarely on investing in the middle class and helping people who are working hard to join it.
We believe all Canadians should benefit from our country's economic success. Cutting taxes for all but the wealthiest, and giving more money to middle-class families and those who need help the most, are only the first steps in our new mandate.
We will also make it easier for people to get an education, buy their first home and find care for their kids. We will help workers enter the workforce, grow their skills and transition between jobs. We need to continue to build confidence in Canada's economy, making sure the world continues to see our great nation as a great place to invest. We are building this confidence with targeted support for businesses, which will encourage more job-creating investments.
To make it easier for small businesses to succeed and create more jobs, we have cut taxes for small businesses not once, but twice. This is part of our government's responsible plan to build a strong, growing economy. We will build on the progress of the last four years and continue to make a real difference in the lives of Canadians today but equally, if not more importantly, well into the future.
Part of that means acknowledging the regional challenges that exist, particularly in the oil and gas sector. For that reason, we are moving forward with the Trans Mountain expansion project.
At a time when most of our energy exports go to the United States and the economies of Alberta and Saskatchewan are struggling, Canadians know that we need to open up new international markets. The Trans Mountain expansion project will create thousands of good middle-class jobs, accelerate Canada's clean-energy transition and open up new avenues for indigenous economic prosperity.
Today, construction is well under way and thousands of Canadians are hard at work. Contractors have started work at the Burnaby terminal, the Westridge Marine Terminal, the Edmonton terminal and pumping stations in Alberta.
In October, construction began on segment one in the Edmonton area after the Canada Energy Regulator released land for construction. The work on segment two started immediately.
This has allowed the company to start putting pipe in the ground. The goal is to have the expansion project in service by the latter half of 2022. In the short term, this is creating good, well-paying jobs. So far, over 3,000 people have started working on this project. At peak construction, there are expected to be over 5,500 people employed on sites across Alberta and British Columbia.
Once completed, the project will open up new international markets, get us a fair price for our energy resources and provide much-needed relief to the economies of Alberta and Saskatchewan.
The project, as it stands today, is very different from the project that was originally planned by Kinder Morgan. It will now support more union jobs in B.C., as well as in Alberta, and the project has been designed to a higher standard for environmental protection.
As the company has been working on the engineering plans for this project, environmental protection is always at the forefront. Trans Mountain has a robust safety regime, with important risk controls for all traffic and oil tankers in particular.
Over the last 65 years, Trans Mountain has developed comprehensive safety, spill prevention and emergency response plans to make sure the company is protecting the public, the environment and its employees.
The project will also help move less oil by rail and more by pipeline, which is the most economic, environmentally sound and safe mode of transportation. Our government remains confident that the project is commercially viable. We are comfortable that Canada will see a positive return on its investment when it comes time to sell.
Once completed, the pipeline's capacity to move Canadian oil will almost triple, unlocking potential to meet the world's demand. This is a monumental project, one in the best interests of the entire country. The project will also create economic benefits for many indigenous communities. To date, Trans Mountain has signed agreements worth more than $500 million with 58 indigenous communities.
It will generate new revenues for all levels of government for the betterment of Canada and Canadians. Over the course of this project's construction and the first 20 years of operation, the Conference Board of Canada estimates that this project will add over $160 billion to the Canadian economy and add $46 billion to government revenues.
Almost half of these revenues, $19.4 billion, will go straight to Alberta, supporting provincial and municipal programs that Albertans depend on each and every day. Every dollar the federal government earns from this project will help fund new technologies and green energy solutions that will ensure Alberta remains an energy leader as we work together to fight climate change.
Let us make no mistake: In a world where Canada makes a rapid and decisive transition to a low-carbon economy, the oil and gas sector has an important role to play. In 2018, we announced an investment of more than $1.6 billion for Canada's oil and gas sector. It included measures designed to support workers as well as their families, foster competitiveness and improve the long-term environmental performance of the oil and gas sector. Investments have already been made to support oil and gas companies, reduce their carbon footprint and develop alternative uses for their products.
To conclude, by building the Trans Mountain expansion project, we can make sure we are able to safely get more Canadian resources to world markets where we can get good prices for them. That increase of revenues will benefit everyone. It will mean more money for businesses to create good, well-paying jobs for Canadians. That is more money for hard-working families, money that can be spent to help local communities and grow our economy.