Introduction by Senator The Hon Helen Coonan
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Improved consumer and financial literacy has the potential to save Australia and Australians millions of dollars each year. Put simply, better use and management of money is a vital skill for all Australians. To have the greatest chance of success we must start the process of consumer and financial education with the very young — in schools and in homes. We must carry it through to Australians at every stage of their life, from school students to retirees regardless of gender, cultural background or language. |
In February I announced the formation of a high-level Consumer and Financial Literacy Taskforce to develop the first-ever national strategy for consumer and financial literacy, targeting Australians of all ages and all persuasions.
This discussion paper provides an excellent frame of reference for the upcoming consultations with the public and stakeholders about how to tackle the burgeoning issue of financial illiteracy.
Already a range of good and useful material exists and the Taskforce is by no means attempting to reinvent the wheel or circumvent the work that is already being done. Rather, the Taskforce has been charged with developing a collaborative approach to redefine and enhance the financial skills of ordinary Australians.
I urge all those with an interest in consumer and financial literacy to make a submission in response to the Discussion Paper or to attend the discussion forums which will be held around Australia.
I would like to thank the members of the Taskforce, and especially the Chairman, Mr Paul Clitheroe, for their outstanding contribution to this issue of great importance.
Senator the Hon Helen Coonan
Minister for Revenue and the Assistant Treasurer
