IBC praises infrastructure spending in budget

The Insurance Bureau of Canada (IBC) has applauded the federal government for its commitment to infrastructure spending in the latest federal budget.

Read: Federal Budget 2013: Closing Loopholes

The budget, delivered March 21, dedicates $53.5 billion over the next 10 years for provincial, territorial and municipal infrastructure.

The IBC worked with the Federation of Canadian Municipalities and other stakeholders to urge the Government to make a priority of critical infrastructure spending.

“As severe weather becomes more common in Canada, updated storm and waste water infrastructure is essential for municipalities,” said Chris White, vice-president, federal affairs of IBC in a statement. “Because of the devastating human and economic impacts of severe weather, home, car and business insurers have made climate adaptation a top priority. We’re pleased to see the federal government helping fund this vital challenge.”

Originally published on CITopBroker.com

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The staff of Advisor.ca have been covering news for financial advisors since 1998.