Toronto, Ontario, November 16, 2012
As part of a series of Financial Literacy Month events, the Honourable Ted Menzies, Minister of State (Finance), today participated in the launch of a new report, titled The Case for Financial Literacy, by scholar Jennifer Robson, of Carleton University.
“This report underscores that financial literacy is a goal that requires many hands, and must continue to evolve to meet the changing needs of Canadians,” said Minister Menzies. “Bringing people together to discuss the important public policy dimensions of financial literacy is fundamental to our goal of helping Canadians take control of their financial well-being.”
The report was commissioned by the Canadian Centre for Financial Literacy, a division of Social and Enterprise Development Innovations (SEDI). SEDI served as a strategic advisor to the Government’s Task Force on Financial Literacy, which in 2011 issued its final report, entitled Canadians and Their Money: Building a brighter financial future.
“This report shows a clear need for financial literacy for all Canadians, and a distinct role for financial literacy programs that we know can help equip low-income and vulnerable Canadians to better navigate the financial choices in their lives,” said Elizabeth Mulholland, Chief Executive Officer of SEDI. “We look forward with enthusiasm to working with the federal government on moving this agenda forward.”
Financial Literacy Month raises awareness of the importance of acquiring life skills that can allow Canadians to act knowledgeably and with confidence when managing their personal financial affairs.
The Harper Government is committed to enhancing the financial well-being of all Canadians both by increasing awareness of financial literacy resources, and by strengthening the existing consumer protection framework through a variety of regulations on issues as diverse as network-branded prepaid cards and credit agreements.
Office of the Minister of State (Finance)
Department of Finance