Madam Speaker, first I want to point out to the member that I am happy, but just because I am happy does not mean I am not concerned. I am concerned, as are many other people, about certain directions in which this country is going.
I agree with the member's point. A lot is taught in the curriculum of Canadian schools, but one issue that remains untaught is financial literacy. Some of the chartered banks are making an effort and the Government of Canada has made minor efforts, but I do not really think it is sinking in. A lot of financial literacy probably comes from parents, but in some cases the parents are not as well versed as perhaps they should be. This is an issue that is lacking. I do not like to refer to it lacking in the total education system but in the scheme of lifelong learning.
With respect to financial literacy, the first big decision people make, and it is unfortunate that they have to make this decision, is usually after grade 12 when they apply for a student loan. That sets in motion a lot of long-term decisions. Before that decision is made, people really should be grounded in financial literacy. Unfortunately, there are situations where people do not go to university because they are scared to borrow, or to borrow too much, and people go to school based on income, not initiative, which is unfortunate.
The member made a very good point. This is something that should receive much greater attention from all parties, provincial governments, educational institutions, the federal government, banks and people in the financial services industry than it is receiving now.