Mr. Speaker, the Canadian Federation of Independent Business and the Canadian Life and Health Insurance Association have announced a joint initiative that will help make unincorporated businesses more competitive and improve health care coverage for up to one million Canadians.
Small businesses are the backbone of the Canadian economy. This is why our government has produced a number of initiatives designed to ensure continued growth in the medium and small business sectors.
The government's 1998 federal budget introduced measures that permit unincorporated, self-employed business owners to deduct the cost of supplementary health and dental coverage as a business expense. This is a major step toward placing them on the same footing as other Canadian businesses.
The joint CFIB and CLHIA announcement brings this important initiative full circle.
I congratulate the Minister of Finance for his leadership in this regard. I commend the Canadian Federation of Independent Business and the Canadian Life and Health Insurance Association for responding so positively.
The result of this co-operative and innovative effort—