Department of Finance Canada
Immediate release
Ottawa, March 26, 1999
99-033

Minister of Finance Announces Appointment of 1999 National Campaign Chair for the New Canada Savings Bonds Payroll Program

Related documents: Backgrounder: biography of Guy Saint-Pierre.

Finance Minister Paul Martin today announced the appointment of Guy Saint-Pierre, Chairman of the Board, SNC-Lavalin Group Inc., as the 1999 National Campaign Chair for the New Canada Savings Bonds Payroll Program. Mr. Saint-Pierre becomes the second National Campaign Chair and follows L.R. Wilson, Chairman of the Board, BCE Inc., whose term ends March 31, 1999.

The New Canada Savings Bonds Payroll Program is one of the largest automatic savings plans in Canada enabling Canadians to purchase Canada Savings Bonds through the workplace. More than 15,000 employers and approximately one million Canadians participate each year. The program is an integral part the government’s strategy to provide Canadians with greater access to Government of Canada securities, including Canada Savings Bonds.

Mr. Saint-Pierre will work with Jacqueline Orange, President and CEO, Canada Investment and Savings, the agency responsible for retail debt, including New Canada Savings Bonds and the payroll program, to increase awareness among Canadians about the importance of saving. He will help to develop new relationships with employers across Canada to provide more Canadians with the opportunity to put money aside on a regular basis.

"I welcome the talents and leadership of one of Canada’s most well-known and respected businessmen in working to ensure that Canadians have a greater opportunity to save through payroll deductions," said Mr. Martin. "I am certain Mr. Saint-Pierre’s efforts to spread this important savings message through companies and organizations will go a long way to ensuring the success of the 1999 payroll campaign."

Both Mr. Martin and Ms. Orange expressed their appreciation for the energy and enthusiasm displayed by L.R. Wilson as the very first payroll campaign chair.
"Mr. Wilson’s profound contribution has set a very high standard and helped the 1998 campaign enjoy significant success," continued Mr. Martin. "That’s why I am pleased to have someone of Guy Saint-Pierre’s stature as the incoming Campaign Chair to sustain and expand on the foundation put in place over the last year."

Canadians have used the payroll program to purchase more than $42 billion in Canada Savings Bonds since it was established in 1946. The program has recently been streamlined to reduce the administrative workload for employers and offers increased flexibility to participating employees.

"The New Canada Savings Bonds Payroll Program offers an easy and convenient way for Canadians to meet their financial goals," said Mr. Saint-Pierre. "I encourage my colleagues from across the country to support this valuable savings program which benefits employees and companies and strengthens the economic future of our country."

Mr. Saint-Pierre has accepted this voluntary position as 1999 National Campaign Chair for a one-year term from April 1, 1999 to March 31, 2000. His biography is attached.

For further information:
Canada Investment and Savings
Media Relations
(613) 992-9033

Backgrounder