Minister Morneau Highlights Canada’s Fiscal Strengths and the Important Role of Financial Literacy for Youth and Seniors at Federal Reserve Bank of Chicago

April 20, 2016 – Chicago, Illinois – Department of Finance

In a speech at the Federal Reserve Bank of Chicago, Finance Minister Bill Morneau highlighted financial literacy as a key component of inclusive growth, particularly amongst seniors and youth. He also took the opportunity to highlight the Government’s intention to undertake a review of financial sector legislation to ensure it remains robust and sound, and that no consumer is left behind.

The Minister also described the Government’s approach to revitalize the Canadian economy and grow the middle class, while maintaining a low debt burden—a plan that is garnering international recognition.

The International Monetary Fund recently singled out Canada as a country that is taking advantage of its space for fiscal expansion, and has called on other countries to also take a more balanced approach to boosting growth by effectively using fiscal space, where available.

Minister Morneau outlined the Government’s efforts to use its fiscal capacity to make targeted investments in the key areas of infrastructure and innovation, and shared his views on enhancing the resilience of the financial sector.

Quote

“I am proud to be at the Federal Reserve Bank of Chicago to support efforts in financial literacy and education. Our government understands that to have an economy that works for everyone, people need to have the knowledge, skills and the tools to budget, spend, save and invest. This is especially true for youth and seniors, who often need tailored products and information to help them adapt to rapidly evolving technology.”

- Bill Morneau, Minister of Finance

Media Contacts

Annie Donolo
Press Secretary
Office of the Minister of Finance
613-369-5696

Jack Aubry
Media Relations
Department of Finance
613-369-4000

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