The industry had a decisive reaction to the long-awaited Conservative budget.
The federal budget received a thumbs up from the life and health insurance industry.
"We are particularly pleased with those aimed at enhancing opportunities for long-term investment," says President and CEO of the Canadian Life and Health Insurance Association (CLHIA) Frank Swedlove.
"We support the increased funding for infrastructure, most notably the recognition that P3 alternative financing can be an effective contributor,” he said. “We also support the further release of 50-year government bonds over the next year."
The CLHIA also welcomed legislative amendments to modernize, clarify and improve protection of prescribed supervisory information.
"This is something we have been asking for and we are pleased that the government has recognized its importance to confidence in, and the stability of, our financial system," added Swedlove.
The budget also saw Employment Insurance Compassionate Care Benefits move from six weeks to six months, an increased investment in the Canadian Foundation for Healthcare Improvement.
“Initiatives to improve the efficacy of Canada's health care system are also welcomed, including tax benefits to help seniors and disabled Canadians stay in their homes, renewed support for the Canadian Mental Health Commission, and the creation of a Foundation to identify savings and efficiencies in the health system,” the CLHIA said in a release.
"We are particularly pleased with those aimed at enhancing opportunities for long-term investment," says President and CEO of the Canadian Life and Health Insurance Association (CLHIA) Frank Swedlove.
"We support the increased funding for infrastructure, most notably the recognition that P3 alternative financing can be an effective contributor,” he said. “We also support the further release of 50-year government bonds over the next year."
The CLHIA also welcomed legislative amendments to modernize, clarify and improve protection of prescribed supervisory information.
"This is something we have been asking for and we are pleased that the government has recognized its importance to confidence in, and the stability of, our financial system," added Swedlove.
The budget also saw Employment Insurance Compassionate Care Benefits move from six weeks to six months, an increased investment in the Canadian Foundation for Healthcare Improvement.
“Initiatives to improve the efficacy of Canada's health care system are also welcomed, including tax benefits to help seniors and disabled Canadians stay in their homes, renewed support for the Canadian Mental Health Commission, and the creation of a Foundation to identify savings and efficiencies in the health system,” the CLHIA said in a release.
