Madam Speaker, it is always a pleasure to rise in the House. Happy Monday. I hope that we and our respective families are doing well. Before I begin, I wish to say that I will be sharing my time with the member for Winnipeg Centre this evening.
I am happy to speak today regarding Bill C-64, an act respecting pharmacare. It is another step for our government to make life more affordable for Canadians and provide the services that they need at this point in our term, and something that I am very proud of as a member of Parliament.
Before I get into my formal remarks, this weekend I was reminded of the work we are doing in helping Canadians, including the wonderful residents that I have the privilege of representing in Vaughan—Woodbridge. Close to my constituency office is one of the regional roads in the city of Vaughan in York Region, Weston Road. Along Weston Road, there are three signs that are placed up by our local dentists, all accepting the Canadian dental care program. Much like what is contained in the contents of Bill C-64, an act respecting pharmacare, here we have another foundational piece that is assisting Canadians in my riding and across the country. We know that over two million seniors have been approved for the dental care plan, and that over 120,000 have actually visited dentists. I have had many conversations with the seniors in my riding over the weekend who have used the plan and are very happy about it.
Along that vein, we are introducing a bill on pharmacare that will again help Canadians, 3.7 million of them, who have diabetes. We know that diabetes costs our health care system north of $30 billion a year. There are real savings in doing what we are doing and also taking preventative steps and providing contraceptives for Canadians.
This bill sets out the principles that will guide our government's efforts to improve the accessibility and affordability of prescription medicines and support their appropriate use. It also underscores the importance of working together with provinces and territories to make national pharmacare a reality for Canadians. We can all agree that Canadians should have access to the right medicines at an affordable price regardless of where they live.
That is what Bill C-64 does. It represents the first phase toward a national pharmacare, starting with the provision of universal single-payer coverage for a number of contraception and diabetes medications. This legislation is an important step forward to improve health equity, affordability and outcomes and has the potential of long-term savings to the health care system.
In budget 2024, we announced $1.5 billion over five years to support the launch of national pharmacare and coverage for contraception and diabetes medications. I will highlight how important this is to Canadians and, specifically, how important access to contraceptives is to almost nine million women—