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Ottawa, July 12, 2001
2001-064

2001-2002 Retail Debt Plan

Related document:

• Canada Investment and Savings 2001-2002 Retail Debt Plan.

The Department of Finance today released Canada Investment and Savings' (CI&S) Retail Debt Plan for 2001-2002. The Plan forms part of the federal government's debt management strategy for this fiscal year, which was tabled earlier in Parliament.

With the Government's commitment to balanced budgets or better, CI&S's mandate is to deliver a vibrant, creative and cost-effective Retail Debt Program that provides value to Canadians and contributes to a diversified investor base. As well, it aims to ensure that Canadians are aware of and have access to Government of Canada securities.

The attached 2001-2002 Retail Debt Plan highlights CI&S's key priorities and plans for this fiscal year.

To obtain further information regarding the Retail Debt Program, you may visit the Canada Investment and Savings Web site at www.csb.gc.ca

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Canada Investment and Savings 2001-2002 Retail Debt Plan

Introduction

The Retail Debt Plan, an annual release of the Department of Finance, is the retail component of the federal government's debt management strategy. The Plan was developed by Canada Investment and Savings (CI&S), the government agency responsible for the day-to-day management of the Retail Debt Program.

CI&S's mandate is to deliver a vibrant, creative, and cost-effective Retail Debt Program that provides value to Canadians and contributes to a diversified investor base. As well, it aims to ensure that Canadians are aware of, and have easy access to Government of Canada securities.

The government is committed to balanced budgets or better in 2001-02 and 2002-03 and expects to continue reducing its debt over time. Because the level of debt remains significant, prudent debt management includes providing reasonable cost stability under a range of economic scenarios and maintaining a diversified investor base.

2001-2002 Key Plans and Priorities

This year CI&S will focus on developing or extending initiatives that improve service delivery for customers while being cost effective for the government. The following initiatives will be pursued in 2001-02:

Introducing Online Services to Canadians

Introducing Internet Sales: Beginning in October, Canadians will be able to buy Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs) directly from the government over the Internet by accessing www.csb.gc.ca

Online Payroll Deductions: The online application form, successfully piloted in 2000, will be enhanced and introduced to additional sponsoring employers, enabling tens of thousands more Canadians to sign up and make changes to their Canada Savings Bonds payroll deductions from their desktops.

These initiatives mark further progress toward offering fully integrated online services to Canadians.

Continued Telephone Sales

Last year Canadians were offered the option of buying CSBs and CPBs directly from the government over the telephone. This telephone direct sales pilot will be continued this year.

Six-Month Sales Campaign

As a pilot project beginning in 1998, Canadians have been able to purchase both CSBs and CPBs during a six-month period between October and April 1 each year. Aimed at providing Canadians better access to the bonds, the extended six-month sales period will, this year, become a permanent feature of the annual sales campaign.

Continued Focus on Youth

As part of its strategic efforts to provide greater numbers of Canadians with investments that meet their individual needs, CI&S launched an innovative national youth initiative in the fall of 1999 featuring a Web site designed to help young people and their parents better understand the importance of saving, together with a promotional contest. Last year, the popular youth initiative evolved to an online only format. CI&S will again build on the success of its youth Web site and contest this fall to ensure the promotional initiatives remain relevant to youth.

Improved Efficiency in Back Office Operations Support

As the fiscal agent and registrar for the Retail Debt Program, the Bank of Canada has been exploring more cost effective and flexible means of meeting its responsibilities for delivering systems and operations support services. Following a review of proposals to provide these services, the Bank of Canada signed a contract with EDS Canada Inc. that will be effective September 1, 2001.

The Bank of Canada will remain fully accountable for the provision of customer service and the Department of Finance, through its special operating agency, Canada Investment and Savings, remains responsible for the day-to-day management of the Retail Debt Program.