FEWO Committee Report

INTRODUCTION

Chapter 6 provides other suggestions discussed by witnesses that are related to women’s economic security. These suggestions largely revolved around ensuring both young women and older women attain higher levels of financial and entrepreneurial literacy and knowledge of the implications of their life course decisions to enable them to make sound financial and business decisions. Another set of issues that emerged from the testimonies focused on the need to address the knowledge gaps and to monitor certain developments and trends. A third set of issues were suggestions related to national initiatives and strategies.

6.1 Financial and Entrepreneurial Literacy

Several witnesses identified financial literacy as an important dimension to women’s economic security. Deborah Tunis with the Department of Social Development noted that young mothers may not be cognizant of the impact motherhood has on their future incomes.

[W]omen don’t always have all the information to make their decisions about having children — some people defer those decisions until it becomes difficult, in terms of fertility — and decisions about how their family arrangements will affect their later income. So getting some information out so that people are aware of the consequences of their choices earlier on would be a terrific thing.[151]

Mitch Bloom with the Department of Social Development discussed the importance of educating both young boys and girls about their responsibilities through “the course of life, especially into the senior years.”[152]

Daniel Braniff from Canada’s Association for the Fifty-Plus emphasized the need for enhancing senior women’s financial literacy.

I think this is a matter of financial education, because especially widows, senior widows, are very vulnerable. They become dependent on the social contacts they have and the care they might be getting, and it could be that they’re transferring assets they should be retaining.[153]

He also noted that women should gain access to professional financial advice rather than depending on family members or on their spouses to make financial decisions for them.

I believe that no matter what your status is in earning, at the bottom or near the top, you should have advice. Too often, it’s the family member who is giving you advice. Too often, it’s usually the male in the family who has the big say. I would suggest that at least once or twice in a lifetime you should have a financial plan at any age, and it should come from an authorized accountant.” [154]

Carole Presseault from the Certified General Accountants Association of Canada suggested that women would benefit from being able to access supportive learning networks that enhance their entrepreneurial literacy and knoweldge.

We need to target the learning, and I think we need to target the learning around networks and women’s networks and in that aspect the federal government has a good track record in creating centres of excellence. One of the proposals that we want to leave with you today is the creation of centres of excellence in women entrepreneurship.[155]

These Centres of Excellence, which have been established in Europe and the United States, would provide women with one access point for information and for mentoring.[156]

6.2 Monitoring Progress to Address Knowledge Gaps

During the course of their testimonies, witnesses identified various knowledge gaps and recommended monitoring specific areas related to women’s economic security. Lucya Spencer with the Ontario Council of Agencies Serving Immigrants, pointed to the knowledge gap that exists with regards to senior immigrant women.

[M]any immigrant women who have been 25 or 30 years in this country cannot speak English or French. Yet they need help; they need assistance; they need services. What we are saying is that we need more in-depth study on this particular issue so that it will help you as policy-makers to put systems and structures in place to make the funds available that will allow them to grow old in this country and feel comfortable.[157]

Dr. Anuradha Bose from the National Organization of Immigrant and Visible Minority Women of Canada suggested a more in depth examination of the economic security of the newcomer population needs to be undertaken. Such a study would examine “the social costs of income insecurity of immigrant women and their families.” [158]

The Committee learned that studies targeting rural women have not been addressed by Statistics Canada.

I know there have been a couple of major reports on rural Canada, but certainly we have not done anything along the target groups. It’s one we’ve lobbied for. We’ve done a whole bunch of publications — aboriginal people, immigrants, and groups of that nature. I don’t really believe we’ve done a whole lot of significant work in that area, and it’s probably something that should be done.[159]

Other knowledge gaps that were identified by the witnesses related to women’s caregiving responsibilities.

We know very little about some things like the situations of people who are caring for adult children or other relatives with mental health conditions, for example. So there are some huge knowledge gaps, and there are some huge policy gaps because of that.[160]

Witnesses also noted that there was a need to continue monitoring trends because the future holds less economic security for today’s employed women.

Women Elders in Action doesn’t share the belief that income security for senior women is no longer a concern. We believe that while inroads have been made, the situation for unattached senior women continues to need improvement. More importantly, current trends are destabilizing the promise of secure futures for today’s waged women.[161]

6.3 National Initiatives and Strategies

Witnesses encouraged the federal government to take on several national initiatives and leadership roles. Wintesses noted that the federal government should initiate a national childcare program and a national initiative on community support services. They discussed the need for an overall comprehensive strategy that addressed women’s economic security. Witnesses suggested that the federal government initiate an anti-poverty strategy.

Several witnesses identified the need for a national childcare program. Monica Lysack with the Child Care Advocacy Association of Canada recommended that a universally accessible child care program be established to replace the “patchwork” that currently exists.[162]

A pan-Canadian publicly funded, universal, non-profit child care system is fundamental to the advancement of women’s equality and has been a central demand of the Canadian women’s movement since before the Royal Commission on the Status of Women 35 years ago.[163]

Mary McGowan with the Neighbourhood Link/Senior Link noted that a “national initiative was needed to support seniors, and in particular senior women.”[164]

I believe sincerely there should be a blanket of community support services across the country. I think what it would take would be to break down some of the silos that presently exist.[165]

She discussed the positive financial impact of such a program.

So if the investment in community supports were made, fewer people would need to draw on the more expensive health care and long-term care facilities.[166]

Ken Wilson from the Canadian Activists for Pension Splitting noted that there needs to be the political will to ensure a comprehensive strategy to economic security is implemented.

We have to set targets. We have to know what the problems are. We have to plan for what we expect to evolve to as a society. Consequently, yes, I fully support that look ahead, that development of a strategy. I leave it up to the politicians to arrange how to do that.[167]

The National Council of Welfare pointed out that there was a need for an anti-poverty plan that incorporated a gender based analysis.

What really is needed, according to the council, is an anti-poverty plan with clear goals to reduce the risk of poverty, to increase the living standards of those living in deepest and most persistent poverty, and to restore dignity to the way in which people are treated. The plan needs targets, indicators to measure results, the assignment of responsibility, and the resources to make it work.[168]

The Council recommended that the federal government take on a coordinating role with the provinces that have begun to implement their provincial anti-poverty reduction strategies.[169] According to the National Council of Welfare, such an anti-poverty plan “should not be linked to partisan issues. Eliminating poverty is really an issue that all parties should see they have an interest in moving forward on.”[170]

Recommendation 21:

The Committee recommends that, in collaboration with the provinces and territories, the federal government develop a national poverty reduction strategy that incorporates gender based awareness with concrete targets and goals to address poverty and Aboriginal poverty in Canada.