When we think about preventing poverty, which is what I really think we need to think about much more than remediating it, we have to look at the sources of vulnerability.
Another key learning, I think, we took away from the mayor's task force is that we're all vulnerable. When we're talking about poverty, it's like talking about cancer. There isn't one cancer. There's lung cancer, leukemia, liver cancer. We use one term as a catch-all, but they're very distinct. Poverty is a spectrum of vulnerability.
To address poverty from a prevention standpoint, we need to look at how we are all vulnerable. We looked at four sources of vulnerability. There's a personal vulnerability, which is about me and the assets or needs that I bring. There's also the vulnerability that comes from life stage, as seniors, as children. There's also the vulnerability that comes from disruptive events. No matter how prepared we are, things happen to us. We may lose a job. We may get sick, or a spouse or a child may get sick. There may be a natural disaster.
Then there's systemic vulnerability, those things about our systems that don't work well: asset limits on preventing people from accessing welfare assistance that make you divest your RESP before you can qualify for welfare.
To address poverty from a prevention standpoint, we have to look at all four of those quadrants of vulnerability, and it really needs to be a universal approach, rather than a targeted approach. Targeted approaches, I believe, really focus on remediating poverty for people experiencing it now, but they don't do very much to prevent it in the long term.