I stand today to recognize a young man from Main Brook on the Northern Peninsula. Mark Powell is this province�s winner of the Canadian Securities Administrators annual contest "Test Your Financial IQ." The CSA recently awarded regional winners for every province and two of the territories a cash prize of $750 each.

In order to win this prize, participants, ages 15 to 21, had to go online and answer a number of questions about the importance of budgeting, saving and investing. In general, they are encouraged to learn more about financial matters.

This year�s "Test Your Financial IQ" contest was another success with over 2,100 contestants. This shows once again that young Canadians are taking a greater interest in their future financial health. I cannot stress enough how important it is for all Canadians to know the benefits of proper budgeting, saving and investing. As with many initiatives, obtaining financial knowledge at a young age is vital to ensuring that more and more adults understand the importance of financial responsibility.

I commend Mark for his success. He is a young man with a bright future. He is currently a student at Mary Simms All Grade School in Main Brook and he plans to use his prize money towards tuition for Memorial University where he will be studying Kinesiology. I am sure that all members of the House of Assembly will join me in congratulating Mark on being Newfoundland and Labrador�s winner of the "Test Your Financial IQ" contest. I wish him all the best for the future.

This contest will be offered again next year, and I encourage all our young people to participate to test their financial IQ.

2006 05 16                            2:05 p.m.