Mr. Speaker, the Government of the Northwest Territories is dedicated to providing relevant and necessary programming to suit the needs of our adult learners.
In May 2011, as part of a Memorandum of Understanding between the GNWT and the mines, the departments of Education, Culture and Employment and Industry, Tourism and Investment met with our three operating mines in the North: BHP Billiton Ltd., Rio Tinto and De Beers Canada. They identified a need for financial literacy training for their staff and we responded. ECE set to work on identifying modules for the program, with research on best practices and existing programs, information from the Task Force on Financial Literacy, and supported by Aurora College and the NWT Literacy Council.
This idea has been developed into a curricula package, including recognized learning outcomes, teaching techniques and 11 modules related to the needs of northern workers. The three mines identified household budgeting, banking, credit, financial planning tools, managing debt and other practical topics as their employees’ needs. This new course will provide learners with the knowledge, skills and confidence to manage their personal finances.
Financial literacy will be one of the mandatory courses delivered through our territorial Adult Literacy and Basic Education program. It is delivered mainly by Aurora College in community learning centres across the territory and by other stakeholders, such as the Tree of Peace and Native Women’s Association. The modules in the financial literacy course accommodate many levels of learners, with a wide variety of resources at various literacy levels. They will be delivered for the first time in February 2013.
The course is also designed so that it may be delivered by employers. Many employers offer workplace literacy opportunities for their employees and this package will be made available to anyone who would like to use this resource.
Mr. Speaker, November is Financial Literacy Month, and programs like this are important to the well-being of residents and our economy. Financial education will benefit Northerners of all ages and income levels. For young adults just beginning their working lives, it can provide basic tools for budgeting and saving so that expenses and debt can be kept under control. Financial education can help families acquire the discipline to save for a home of their own or for their children’s education. It can help older workers ensure that they have enough savings for a comfortable retirement by providing them with the information and skills to make wise investment choices. Financial education can help people to avoid the high cost charged by institutions like cheque-cashing services.
This course will provide our residents with the skills they require to lead fulfilled lives and contribute to a strong and prosperous future in the Northwest Territories.
Thank you, Mr. Lafferty. The honourable Minister of Industry, Tourism and Investment, Mr. Ramsay.
