Standing Senate Committee on National Finance (NFFN) (May 28, 2024)
ISSUE: Funding for Prosper Canada (Budget 2024)

Key messages

Prosper Canada is a key player in the financial ecosystem.
As explained in FCAC’s National Financial Literacy Strategy, strengthening the financial literacy of Canadians is a shared responsibility and requires collective action from the financial ecosystem.
FCAC looks forward to continuing its collaboration with Prosper Canada as we work together to advance the goals of the National Financial Literacy Strategy.
The National Financial Literacy Strategy’s ecosystem approach includes providing Canadians access to the tools and information they need to build financial resilience.

Budget 2024 proposes to provide $60 million to Prosper Canada to expand community‑delivered financial help services available to Canadians.
The expanded services to be delivered by Prosper Canada as part of this announcement are expected to reach 1 million low- to moderate-income Canadians over 5 years, helping them receive nearly $2 billion in unclaimed tax and benefit income.
Prosper Canada is an adopter of the National Financial Literacy Strategy’s Measurement Plan.