Archived - Harper Government Encourages Financial Literacy for Young Canadians as Key to a Strong Economic Future for Canada
Minister Kevin Sorenson and Financial Literacy Leader Jane Rooney part of an expert panel judging student business plans
August 29, 2014 – Toronto, Ontario – Department of Finance
Minister of State (Finance) Kevin Sorenson today participated in the Junior Economic Club of Canada’s second annual Bay Street Boot Camp to highlight the importance of financial literacy for students. Minister Sorenson was joined by Financial Literacy Leader Jane Rooney as part of an expert panel of judges to which students pitched a business plan.
The primary mandate of the Junior Economic Club of Canada is to educate and inspire Canadian youth to become financially literate. The Club is hosting a five-day Boot Camp for students aged 15 to 17 designed to explore how financial literacy contributes to both financial and personal success.
- Economic Action Plan 2009 established a Task Force on Financial Literacy.
- In February 2011, the Task Force released its final report, which included 30 recommendations to help various levels of government and other stakeholders strengthen the financial literacy of Canadians.
- In April 2014, the Government appointed Canada’s first Financial Literacy Leader, Jane Rooney, and is currently developing a National Strategy for Financial Literacy, which will focus, in part, on children and youth.
- In addition to improving financial literacy across Canada, the Harper Government has a “Consumers First” agenda. As a key part of this agenda, the Harper Government took efforts to alleviate the costs of banking services for Canadians. In May 2014, it secured voluntary commitments from eight of the largest banks to make low-cost or no-cost accounts available to a wider range of eligible customers, including youths and students.
“I was greatly impressed by the bright young minds I encountered at the Junior Economic Club today. These students are taking financial literacy seriously and, in the process, are ensuring a successful future for both themselves and our country. The Harper Government is investing in financial literacy and in our leaders of tomorrow, and I am sure that by working together, we will enhance our long-term prosperity.”
- Kevin Sorenson, Minister of State (Finance)
“These inspiring students are getting a head start on the life-long learning that is needed for Canadians to achieve their financial goals. The Junior Economic Club’s Boot Camp program is an excellent example of the grassroots initiatives needed to strengthen financial literacy and set the foundation for a stronger economy.”
- Jane Rooney, Financial Literacy Leader
“I can’t believe how bright and engaged these young students are. Every year we run Bay Street Boot Camp—I am blown away by the level of talent and enthusiasm the students display. I think the judges will be extremely impressed with the creativity and vision of the business plans being presented this year.”
- Rhiannon Traill, President of the Junior Economic Club of Canada
Office of the Minister of State (Finance)
Department of Finance