In the 2009 budget, the federal Minister of Finance announced his intention to establish a national task force dedicated to the issue of financial literacy. The Task Force would consult Canadians, undertake research and provide advice and recommendations to the Minister of Finance on a national strategy to strengthen the financial literacy of Canadians.
The Task Force's report was made public in February 2011.
Before it formulated its report to the Minister of Finance, recommending urgent action on a national strategy to strengthen Canadians’ financial literacy, the Task Force consulted widely with Canadians, in keeping with its mandate.
In February 2010, the Task Force published a comprehensive consultation document, which identified questions designed to start a conversation with Canadians on important financial literacy issues. Click here to read the consultation document, entitled Leveraging Excellence – Charting a course of action to strengthen financial literacy in Canada.
From February 2010 to May 2010, the Task Force collected submissions through its website, via email and at its public sessions across Canada. The Task Force also hosted an online forum for those who could not attend its public sessions. By the close of the consultation period, the Task Force had received more than 300 submissions. Click here to read submissions to the Task Force, and comments from Canadians submitted through the Task Force's online forum.
Members of the Task Force travelled in small teams to communities in every province and territory, meeting face-to-face with 175 individuals and organizations and hearing first-hand about their views, values and experiences. To view a map and calendar of the Task Force's public consultations, click on the map:
In September 2010, the Task Force published What We Heard – a summary of the main themes and suggestions from its public consultations. Click here to read What We Heard.
In addition to what it heard from Canadians, the Task Force drew on its review of Canadian and international best practices, and also commissioned new research on financial literacy. To read the research reports prepared for the Task Force and the bibliography for the Task Force's report, see the section entitled Report of the Task Force.