PwC Federal Budget instant reaction: Federal Government moves ahead to
establish Canadian securities regulator for financial sector

TORONTO, March 4 /CNW/ - PwC tax specialists commented today:

As Canada's strong financial sector is a key component of its ongoing economic recovery, new measures were introduced today in an effort by the Government to help support the nation's competitive industry, these included:

    
    -  Ongoing commitment to establish a Canadian securities regulator within
       the next three years.

    -  Moving ahead with a Code of Conduct for the Credit and Debit Card
       Industry in Canada.

    -  Introduction of a legislative framework to enable credit unions to
       incorporate and continue federally, in an effort to promote the
       continued growth and competitiveness of the sector and enhance
       financial stability.
    

A PwC Budget Flash with additional Budget highlights has been issued today followed by a detailed Budget Memo. For more information and detailed commentary on the Budget please contact, Kiran Chauhan, [email protected], 416-947-8983 or visit www.pwc.com/ca/budget.

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For further information: Kiran Chauhan, [phone], [email protected]