Thank You, Mr. Flaherty

On October 9, 2009 at a presentation in Istanbul, Turkey, Canada’s Finance Minister Jim Flaherty was presented Euromoney magazine's Finance Minister of the Year award for 2009.

Euromoney noted that Canada's strong policy response to the global economic crisis contributed to its heightened reputation on the global stage.

Minister Flaherty presented a number of reasons why Canada stood out as a role model during what was at the time an extremely difficult year: responsible fiscal management, effective regulation of the country's financial system, a minimization of job loss in Canada during the crisis, unemployment rates that were at the time a full percentage point less than the U.S. rate, and ultimately a financial recovery in Canada that was one of the strongest among G7 countries in 2010 and beyond. Canada also went into the economic crisis with the lowest debt-to-GDP ratio in the G7.

Humbly, and in respect of the stewardship he inherited, Mr. Flaherty said this in his acceptance speech:

"While it's an honour to receive this award, it's really a testament to the perseverance of Canadians themselves throughout this global economic and financial crisis. It recognizes how Canadians built a sound economy and worked together to weather the global storm better than most other countries."

It was a true honor to be asked by Mr. Flaherty, to sit on the Federal Task Force on Financial Literacy, and so in that context I had the pleasure of meeting him. Over dinner one evening, it became instantly clear why the Finance Minister not only helped Canada through a critical time, but also emerged as a leader on the world stage: he was extremely astute and mostly, he cared.

Thank you, Mr. Flaherty for giving us your time, the RDSP, the TFSA, pension income splitting, and more competitive corporate tax rates. But mostly, thank you for giving us so much of your heart and soul.

Evelyn Jacks was appointed to the Federal Task Force on Financial Literacy by the former Finance Minister, which provided a framework for financial literacy in Canada and 30 recommendations.