Canadians and Their Money

term. Further, the mandate should not conflict with the objective of partnering withimportant participants in the National Strategy, such as federally regulated financialinstitutions (e.g., separate from regulatory oversight of potential partners).• National leadership: We believe that improving the public’s financial literacywill contribute to Canada’s national prosperity. One of the challenges will be toaddress the diverse dimensions of financial literacy across the country andto do so in a cohesive and collaborative manner. Judging from our extensivepublic consultations and additional background research, Canadians are correctto expect the Government of Canada to take a central role on behalf of allcitizens in this vital area of our lives.• Inclusivity: No National Strategy will succeed without the continuous involvementof all levels of government and the private and voluntary sectors. All sectors needto be at the table.• Flexibility: The Strategy’s implementation must be flexible enough to allow forcollaboration and partnered funding relationships. The private sector and voluntaryorganizations account for a significant portion of the resources, programs andinnovation that can help Canadians expand their financial knowledge.• Accountability: Progress will take time. Still, mechanisms that demonstrate valuefor money are required if Canada is to continue to invest in the variety of initiativescontemplated in this report.Recommendation 1The Task Force recommends that the Government of Canada appoint an individual,directly accountable to the Minister of Finance, to serve as dedicated national leader.This Financial Literacy Leader should have the mandate to work collaboratively withstakeholders to oversee the National Strategy, implement the recommendations andchampion financial literacy on behalf of all Canadians.TASK FORCE ON FINANCIAL LITERACY – II. Leadership and Collaboration 27