TORONTO, Feb. 9 /CNW/ - The Canadian Foundation for Economic Education (CFEE) wishes to extend
its congratulations to the Canadian government`s federal Task Force on
Financial Literacy Task Force on Financial Literacy. The Task Force Report was released earlier today and puts forth 30
CFEE supports the recommendations. The Task Force appears to have
presented a series of recommendations that are reasonable and
appropriate. If implemented, they should prove to be effective in
significantly helping to improve financial literacy in Canada.
CFEE particularly supports the proposition that efforts to improve
financial literacy should be a shared responsibility among all
stakeholders. This includes Canadians who, as best they can, should
work to acquire the knowledge, and develop the skills, to undertake
their financial decisions with confidence and competence. CFEE also
supports the recommendation to focus upon financial education as a
lifelong opportunity - beginning in the schools and extending beyond
the classroom as a lifelong challenge and responsibility.
It appears that the Task Force has tapped the many individuals and
organizations with experience and insights to contribute to the
National Strategy proposed. The Task Force recognized there is a great
deal of good work being done. However, there is a need for more
collaboration, focus, and capacity building among organizations able to
provide assistance to Canadians. CFEE further supports the challenge
presented to those in the private sector, and especially in the
financial sector. Efforts are needed to improve, simplify, and clarify
the language used to inform Canadians regarding financial products,
services, and choices.
CFEE believes the Task Force has appropriately identified opportunities
to improve financial literacy that have gone largely untapped. This
includes opportunities for learning in the workplace and opportunities
for governments to help improve financial literacy via the many
connections that they have with Canadians through various programs.
"CFEE encourages the federal government to support the recommendations
of the Task Force. The sooner the efforts proposed by the Task Force
can get underway, the sooner Canadians can start to benefit from the
learning opportunities these initiatives could provide. The only
recommendation we would add is that economic literacy should be
regarded as equally important. You can understand a mortgage, but if
you don't know why and when interest rates can change, your mortgage
decisions can cost you thousands of dollars. " said Gary Rabbior, President of CFEE.
CFEE is a non-profit, non-partisan organization, founded in 1974, that
works to improve economic and financial literacy and entrepreneurial
skill development across Canada. CFEE is currently working to help
provinces, such as Manitoba, integrate a basic economic and financial
education into compulsory core school curriculum. CFEE has resources
and programs to support teachers and students, newcomers to Canada,
those who are economically disadvantaged, and Canadians in general.
For more information, visit www.cfee.org
SOURCE Canadian Foundation for Economic Education
For further information:
Media Contact at CFEE: Susan Lennox - firstname.lastname@example.org Phone: (416) 968-2236