Released 30 April 2013. Comments closed 30 June 2013.

In 2008, the Australian Securities and Investments Commission (ASIC) was appointed as the Australian Government agency responsible for coordinating financial literacy. This was done in recognition that financial literacy is a critical skill for the 21^st century and makes a major difference to people’s lives.

In 2011, ASIC published a National Financial Literacy Strategy for 2011–13 (2011 Strategy). The 2011 Strategy recognises that improving financial literacy is a long-term journey over at least a generation.

ASIC is now leading a review of the 2011 Strategy to take stock of progress and develop a refreshed strategy that addresses key priorities over the coming years.

As part of this process, we are consulting with stakeholders on issues and priorities in shaping a National Financial Literacy Strategy for 2014–16 (2014–16 Strategy).

We will also conduct a stocktake of existing financial literacy initiatives across Australia to provide a snapshot of current activity related to improving Australians’ financial literacy. The results of the stocktake will inform the 2014–16 Strategy by identifying gaps in coverage and opportunities for better using existing resources.

This consultation paper should be read in conjunction with the background report (see Report 339 Review of the National Financial Literacy Strategy (REP 339).

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