2013 Manitoba Budget Submission

Date de parution : 02/27/2013
Personne(s)-ressource(s) : Peggy McFarland

February 27, 2013

The Honourable Stan Struthers
Minister of Finance
Department of Finance
103 Legislative Building
450 Broadway
Winnipeg, MB R3C 0V8

Dear Minister:

Please find enclosed a submission from the Canadian Life and Health Insurance Association (CLHIA) on your forthcoming Budget.

Established in 1894, CLHIA represents life and health insurers accounting for 99% of the business in Canada. The life and health insurance industry is a major contributor to Manitoba’s economy. The head offices of three life and health insurers are located in Manitoba, including one in the top 10 in the world. The industry directly employs almost 6,500 Manitobans and has almost $18 billion invested in the province. Last year, the industry paid almost $2.5 billion in benefits to Manitobans through life and health insurance products including life insurance, annuities, RRSPs, disability insurance and supplementary health plans.

This submission proposes that Manitoba:

  • enact measures to facilitate the provision of Pooled Registered Pension Plans (PRPPs), which are prudent, efficiently-managed, private pension plans, that would be available to Manitoba workers, particularly within smaller businesses, and the self-employed, thus vastly improving access to a pension plan for Manitobans,
  • express its intention to reverse the Retail Sales Tax on insurance premiums as soon as possible, but at least by when Manitoba moves out of deficit,
  • work with the federal government and the other provinces to develop a system to allow loss transfers among corporate groups.
CLHIA appreciates the opportunity to contribute to Manitoba’s pre-budget consultation process. If you or your staff require any further information on these matters, my colleagues and I are at your disposal.

Yours sincerely,

(Original signed by)

Frank Swedlove