Archived - Government of Canada consults on the national financial literacy strategy
October 17, 2014 – Saskatoon, Saskatchewan – Financial Consumer Agency of Canada
Today, Minister of State (Finance) Kevin Sorenson, Canada’s Financial Literacy Leader Jane Rooney and Member of Parliament (Saskatoon-Rosetown-Biggar) Kelly Block consulted on the development of a national strategy to strengthen the financial literacy of Canadians. Recognizing that not one size fits all, the second phase of consultations will help the Government develop an effective financial literacy strategy that meets the needs of all Canadians.
The consultation paper Toward a National Strategy for Financial Literacy, Phase 2: Priority Groups is intended to encourage discussion. It invites comments on how to bolster financial literacy for Canadians, including those with low incomes, newcomers to Canada, Aboriginal peoples and people with disabilities. Stakeholders from the public, private and non-profit sectors will take part in in-person sessions across the country. All Canadians are encouraged to submit their comments on the consultation paper by mail or email by December 10, 2014.
- In Economic Action Plan 2013, the Government committed to working with partners to develop a financial literacy strategy that specifically responds to the needs of seniors.
- The Government fulfilled this commitment by launching the Strengthening Seniors’ Financial Literacy Strategy on October 16, 2014.
- This seniors’ strategy will be part of the national strategy for financial literacy to be released in 2015.
- Aboriginal peoples, newcomers to Canada and low-income Canadians were identified as priority groups because the 2009 Canadian Financial Capability Survey found that they could benefit from further strengthening in at least three of the five areas that make up the Financial Literacy index.
- Other research has shown that the low-income population includes disproportionate numbers of people with disabilities, women and single adults.
- Consultations for the third phase of the national strategy for financial literacy will begin in November and will focus on the needs of children, youth and adults, generally.
- Economic Action Plan 2013
- Canada’s Task Force on Financial Literacy and its recommendations
- Financial Literacy Leader
- National Steering Committee on Financial Literacy
- FCAC’s educational programs
- Strengthening Seniors’ Financial Literacy Strategy
- 2009 Canadian Financial Capability Survey
- Financial Literacy Month 2014
Office of the Minister of State (Finance)
Mark Glendenning
Office of the Minister of State (Finance)
1-613-369-5696
Mark.Glendenning@fin.gc.ca
Financial Consumer Agency of Canada
Natasha Nystrom
Media Relations Officer
1-613-941-4168
Natasha.Nystrom@fcac-acfc.gc.ca
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