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Manulife Financial Corp
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Close 2026-04-24 C$ 52.92
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Loblaw, others hear Globe pan pharmacare program

2026-04-24 06:32 ET - In the News

See In the News (C-L) Loblaw Companies Ltd

The Globe and Mail reports in its Friday, April 24, edition that Finance Minister Francois-Philippe Champagne will provide an update on the country's finances on April 28. A Globe editorial says this is an ideal moment for the Liberal government to end its limited pharmacare program. Expanding it would be costly, especially since Ottawa is focused on other priorities. The Trudeau government's pharmacare experiment was a bad idea, especially now. A national pharmacare program would cost over $13-billion annually. It would replace existing private insurance programs and intrude on provincial jurisdiction, making provincial governments hesitant to support it. Approximately 20 per cent of prescription costs are paid out of pocket. The program faces a $1.5-billion, five-year commitment from budget 2024, resulting in a limited initiative. Nonetheless, Liberal governments have repeatedly dangled the possibility of extending a universal public prescription plan, especially when seeking to get elected. The current program covers only two types of medication, for diabetes and contraception, and Ottawa signed agreements with only three provinces and one territory: British Columbia, Manitoba, Prince Edward Island and Yukon.

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