Madam Speaker, I would not say the primary purpose is so that there is competition. The primary purpose is that there would be more insurance companies that people could speak to, to try to find a better price. It is the cost of buying insurance. We should especially imagine a new Canadian family that is just trying to get themselves established. A $4,000 or $5,000 bill to have their parents or grandparents come to visit them might actually make it impossible for them to do so. By having more options, I think the price will come down and make it more affordable for Canadian families from coast to coast to coast.
In the House of Commons on March 1st, 2022. See this statement in context.