Media Advisory - Investment Industry Association President to comment on
federal budget

TORONTO, March 1 /CNW/ - The Investment Industry Association of Canada will issue a news release and make available Ian Russell, President and CEO, IIAC, to provide industry commentary in response to the March 4 federal budget.

The IIAC recommends key measures to strengthen business and investor confidence, market participation and raising capital for small business. These measures will encourage business investment, job creation and economic growth, enabling less reliance on stimulus programs and deficit spending. Recommended initiatives are:

    
    -   Lower the effective tax rate on capital gains on shares of small
        public companies.
    -   Define a medium term plan to reduce stimulus spending and deficit
        financing as private sector demand strengthens.
    -   Explore practical and efficient ways to assist middle income
        Canadians to bolster their savings through privately administered
        tax-assisted savings plans, such as RRSPs and TFSAs.
    -   Permit Canadians approaching retirement and retirees to make
        retroactive contributions to TFSA accounts.
    -   Remove the minimum annual withdrawal limits from RRIFs.
    -   Promote the efforts of the Canadian Securities Transition Office to
        introduce a federal securities act in 2010 and an implementation plan
        for a Canadian securities regulator.
    

Ian Russell will be available on budget day in Ottawa and by phone to respond to questions.

    
    To arrange an interview contact:

    Sarah Louise Gardiner              or  Matt Salvatore
    416-644-2907, 647-339-6445 (cell)      613-288-3272, 613-220-9103 (cell)
    [email protected]            [email protected]
    

The Investment Industry Association of Canada (IIAC) advances the position of the Canadian investment industry on regulatory and public policy issues. As the professional association for the industry, the Investment Industry Association has a mandate to promote efficient, fair and competitive capital markets for Canada while helping its member firms across the country succeed in the industry.

For further information: Contact: Katie O'Dell, [phone], [phone] (cell), [email protected]