The Task Force on Financial Literacy released today a summary of its national public consultations with Canadians.

The document, What We Heard , is a summary of the submissions and comments submitted by Canadians to the Working Group as part of the public consultations that were held in each province and territory and ended in May 2010. .

“The Task Force met with hundreds of organizations and individuals from all walks of life in public sessions held in each province and territory,” said Group President Donald A. Stewart. “We look forward to providing the Minister with our final report, which will be based on our public consultations as well as on new and existing research, discussions with people on the ground, and review of best practices, both in Canada and Canada. foreign. ”

“We learned a lot by listening to Canadians, who responded in large numbers, and contributed their precious time, knowledge and experience,” said L. Jacques Ménard, Vice Chair of the Task Force. “We are committed to ensuring that our final recommendations to the Minister are practical and achievable, and that they build on the significant work already done by the many stakeholders. ”

The Task Force personally met 175 individuals and organizations in 14 communities across Canada, and received more than 300 submissions, as well as 280 comments from Canadians who participated in its online forum.

Panel members are currently evaluating the information gathered, and will present their final recommendations to the Minister by the end of the year.

What we have heard summarizes the main themes, issues and suggestions put forward by the participants in the public consultations conducted by the Group. Canadians addressed a wide range of topics, including:

  • Canadians want and need tools to help them budget, save and repay their debts
  • Young and old alike need the tools and knowledge to manage their financial affairs
  • The need for clear and simple financial documents from the public and private sectors
  • The increasing progress and scale of financial fraud schemes
  • The need for coordination and collaboration among the many organizations currently providing information and financial literacy programs
  • The need to improve the monitoring and evaluation of financial literacy programs

The Group, which was announced in Budget 2009 and was established in June 2009, is mandated to make recommendations to the Minister of Finance on a national strategy to improve financial literacy in Canada. Canada. In February 2010, the Task Force released a consultation paper to guide a national dialogue with Canadians.