Financial Consumer Agency of Canada

Financial Consumer Agency of Canada

November 13, 2014 11:30 ET

Government of Canada Consults on the National Financial Literacy Strategy

Consultations will focus on young Canadians and adults in the third and final phase of the Government's work towards a national strategy that is inclusive, relevant and accessible to all Canadians.

EDMONTON, ALBERTA--(Marketwired - Nov. 13, 2014) - Financial Consumer Agency of Canada

Today, Minister of State (Finance) Kevin Sorenson, Canada's Financial Literacy Leader Jane Rooney and Member of Parliament (Edmonton-Leduc) James Rajotte consulted on the development of a national strategy to strengthen financial literacy, particularly as it pertains to young Canadians and adults. This phase of consultations builds on previous sessions that focused on seniors and identified priority groups, working to ensure broad input into the national strategy's development.

The consultation paper Toward a National Strategy for Financial Literacy, Phase 3: Young Canadians and Adults is intended to encourage discussion. It invites comments on how to strengthen the financial literacy of young Canadians and adults as they navigate through an increasingly complex financial world. 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 31, 2014.

Quick facts

  • The Government is committed to working with stakeholders to develop a national strategy for financial literacy that takes into consideration ways to meet the needs of Canadians at different stages of their lives.
  • The Government launched phase one of the national strategy, Strengthening Seniors' Financial Literacy, on October 16, 2014.
  • The complete national strategy for financial literacy will be released in 2015.
  • During the second phase of consultations, the focus was on certain priority groups-Aboriginal peoples, newcomers to Canada, persons with disabilities and Canadians with low incomes-that had been identified in the 2009 Canadian Financial Capability Survey. Online consultations for phase 2 continue until December 10, 2014.

Quotes

"Canadians are called upon to make increasingly complex financial decisions at an ever-younger age. It is important that we provide all Canadians with the financial knowledge and skills they need at every stage of their lives. This will have a profound impact not only on the individual's financial well-being, but also on our entire economy."

-Kevin Sorenson, Minister of State (Finance)

"Our goal is a Canada where every Canadian has the knowledge, skills and confidence he or she needs to make responsible financial decisions. We want to hear from Canadians so that we better understand the information and tools they need to make financial literacy a reality for all."

-Jane Rooney, Financial Literacy Leader

"The Government of Canada has made financial literacy a priority. As the Member responsible for the proclamation of Financial Literacy Month four years ago, I am pleased to see how many activities are taking place this November to help Canadians increase their financial know-how. I am equally encouraged by the financial literacy dialogue created by this consultation session in Edmonton and those across Canada in the development of Canada's first national strategy for financial literacy."

-James Rajotte, Member of Parliament (Edmonton-Leduc)

Related Products

News release: Government of Canada releases financial literacy strategy for seniors

News release: Government of Canada consults on the national strategy for financial literacy

Backgrounder: Recent Financial Consumer Initiatives

Associated Links

Strengthening Seniors' Financial Literacy Strategy

Canada's Task Force on Financial Literacy and its recommendations

Financial Literacy Leader

National Steering Committee on Financial Literacy

FCAC's educational programs

Financial Literacy Month 2014

Contact Information

  • Office of the Minister of State (Finance)
    Mark Glendenning
    613-369-5696
    Mark.Glendenning@fin.gc.ca
    Follow @FinanceCanada on Twitter

    Financial Consumer Agency of Canada
    Natasha Nystrom
    Media Relations Officer
    613-941-4168
    Natasha.Nystrom@fcac-acfc.gc.ca

    Follow @FCACan on Twitter
    Like Financial Consumer Agency of Canada (FCAC) on Facebook
    Subscribe to FCACan on YouTube
    Follow Financial Consumer Agency of Canada on LinkedIn

    Financial Literacy Leader
    leader-chef@fcac-acfc.gc.ca
    #FinLitLeader on Twitter
    Like Financial Literacy Month in Canada on Facebook
    Join the Financial Literacy in Canada group on LinkedIn