Government statement on Financial Capability
The 2015 government statement highlights the National Strategy for Financial Capability led by the Commission for Financial Capability and the Investor Capability Strategy led by the Financial Markets Authority as frameworks for to align collective effort.
The statement recognises that building financial capability is a shared responsibility and that everyone has a part to play. It also recognises that financial capability is built at home, at school, in workplaces and elsewhere in the community.
Through increased collaboration between government agencies, community and private sector, the National Strategy helps to ensure that we understand and address consumer vulnerabilities through:
- a range of existing government agency networks and services collaborate to deliver shared financial capability messages and resources, allowing us to reach more people without additional cost or duplication;
- government-funded community-run financial capability programmes that are well connected, have access to current best practice, and target priority areas;
- tapping into community-run collective effort exercises where financial capability could play a part; and
- connecting with private sector partners who can contribute to, and deliver, initiatives that build New Zealanders’ financial capability.
The cross government financial capability network
The diagram below shows the framework and how agencies connect as part of the National Strategy for Financial Capability:
Cross government Financial Capability Group
Government agencies are committed to working together in a collaborative way that promotes cross agency initiatives and better ways of working together. CFFC facilitates these discussions at our quarterly cross government financial capability group meetings. You can see examples of our work under the examples of the National Strategy in Action.
Communities of Practice
CFFC contributes to the design and delivery of locally led communities of practice. We regularly connect with community organisations that have a shared interest in financial capability.