Madam Speaker, I thank my hon. colleague for his question.
We are keeping our promise to increase the old age security pension for Canadians aged 75 and over. We will provide seniors with a one-time payment of $500, and we will increase their monthly benefits by 10% beginning in July 2022.
We will invest $3 billion to help the provinces and territories implement long-term care standards and make permanent changes.
With budget 2021, we will continue to meet the diverse needs of seniors, who are more likely to rely on their savings as they age. Their health care and home care costs increase as they get older, although that is when they are less able to work and might be disabled or widowed. We are taking some of the pressure off of seniors—