Minister of Finance. Minister of Education. Minister of Community and Social Services. Janet Ecker has undoubtedly left her mark on Ontario politics. We had an opportunity to sit down with the former Minister and chat about her past and present role as President of the Toronto Financial Services Alliance (TFSA). The TFSA is no ordinary ‘stakeholder’. It was started by the city of Toronto in 2001 and under Ms. Ecker’s leadership, really began to talk to all levels of government effectively about the importance of the financial services sector from an economic development perspective. We discussed Toronto’s remarkable assent to being ranked 12th out of 50 global financial centres. Indeed, Toronto’s and Canada’s banking system has become the envy of the world as our slightly risk-averse approach prevented the fast-and-loose regulations that shook others. Ms. Ecker credits Canada’s functioning political culture as being responsible for keeping us out of trouble.
Of course we couldn’t leave the table without discussing politics. Ms. Ecker often referred to her role as Minister of Community and Social Services as a particularly trying time. It was also the source of some good lessons learned. For example to the would-be bureaucrats in the room, she advised to always take a step back when crafting public policy as it is often the little problems that add up and create bigger ones. She also noted that the best skill set in public life is undoubtedly the ability foresee and prevent crises.
We thank Ms. Ecker for being so generous with her time. It was a truly fascinating discussion.