Canada to Create First National Steering Committee on Financial Literacy

Canada is moving forward with a search for leaders across the nation to serve on Canada’s first-ever National Steering Committee on Financial Literacy. This news comes amid the existence of a broad range of other financial education initiatives topping Canada’s national policy agenda.

Among those having significant influence in shaping the Steering Committee’s membership is the Minister of State (Finance). Committee members will be charged with developing important insights on financial literacy from the sectors they represent, while simultaneously collaborating to develop financial capability programs. Another key function they will have is to monitor and ensure the progress that takes place within the sectors they represent to best implement Canada’s national strategy on financial literacy.

On April 15, 2014, Jane Rooney was appointed Canada’s first Financial Literacy Leader and, as the Director of Financial Literacy and Consumer Education, she was responsible for creating and rolling out multiple national education programs designed to increase the financial knowledge and confidence of Canadians in managing their personal finances.

Many industry observers are watching closely the formation of Canada’s National Steering Committee on Financial Literacy, as its success could spur similar committees in other developed and developing countries.