Ottawa, ON…CATAAlliance, Canada’s One Voice for Innovation lobby group has added financial literacy as a core policy plank for its Competitive Innovation Nation Campaign designed to advance Canada’s innovation and competitiveness rankings.
This new plank in the CATA policy platform compliments our efforts to help industry. See the full policy list here: http://cata.ca/2018/innovation-nation-policy-planks/
Financial literacy is commonly defined as “the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being.”
According to one of Canada’s most successful technology innovators, Terry Matthews, who is founder & Chair, Wesley Clover International, Chair, Mitel & CATAAlliance Spokesperson, “ The lack of financial literacy is one of the top problems affecting all segments of society and the economic future of Canada, including our ability to support safety nets in times of downturn.”
In an editorial entitled, Prime Minister Trudeau’s Bad Balance Sheets are Bad News for Canada, CATAAlliance pointed out that:
In regard to the recent federal budget, CATAAlliance was among the groups questioning the government’s management of financial resources. Government has failed to be a leader in financial literacy and the nation will pay a price for that failure.
CATA CEO, John Reid noted, “Simply put, we are over leveraged in Canada. We need to have leadership and role models who champion strengthening all balance sheets in Canada, whether it’s you or I in debt situations, whether it’s the provinces, or whether it’s the federal government, because you cannot sustain a social envelope without a strong economic envelope.”
Reid concluded, “Fostering financial literacy education and encouraging all Canadians to build strong balance sheets will strengthen our economy and that will advance the mission of advancing Canada’s global innovation and competitiveness rankings.”
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The Canadian Advanced Technology Alliance (CATAAlliance) is Canada’s One Voice for Innovation Lobby Group, and is crowdsourcing ideas and guidance from thousands of opt in members in moderated social networks in Canada and key global markets. (No Tech Firm Left Behind)