Today, the Task Force released its recommendations to the Minister of Finance, marking the completion of its mandate and a comprehensive examination of the state of financial literacy in Canada.
Our recommendations are for all Canadians. Virtually everyone stands to benefit from enhancing their financial literacy. These recommendations set out practical ways in which we can help Canadians achieve brighter financial futures.
The real work to improve the financial literacy of Canadians starts now. Increasing the financial literacy of Canadians will require ‘all hands on deck’.
Having the knowledge, skills and confidence to make responsible financial decisions is essential for Canadians in both healthy economies and during tough economic times. Each day Canadians make financial decisions - some basic, others with lifetime consequences. Today more than ever, Canadians need to know how to inform themselves and access assistance when making important financial decisions.
The report sets out the first-ever national strategy to improve Canadians’ financial skills. It contains 30 recommendations in five key areas: shared responsibility, leadership and collaboration, lifelong learning, delivery and promotion, and accountability.
We came to these recommendations through extensive research; a public consultation process that took us to every province and territory; and online and written submissions.
I invite everyone to read the report in detail on this website:
http://www.financialliteracyincanada.com/.
The time for action is now to ensure Canadians are well-equipped to meet the challenge of a lifetime of financial decision-making.
Don Stewart
Chair of the Task Force on Financial Literacy
Wednesday, February 9, 2011
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