Canada’s life and health insurers strongly commended the federal government’s economic plan, which was released yesterday.

Greg Traversy, president of the Canadian Life and Health Insurance Association, said, “The combination of tax reduction, debt reduction and paper burden reduction will position Canadians to compete effectively and prosper over the years ahead.”

“Life and health insurers particularly welcome the commitment to foster a dynamic and globally competitive financial services industry and look forward to continuing their own efforts towards that goal in the context of the improved business environment set out in Minister Flaherty’s plan,” he added.