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In handling windfall payments, Indigenous groups are focusing on the collective: Karen Restoule and Ken Coates in the Globe and Mail – MLI

August 19, 2024

The economic power of the collective in managing compensation funds is a vital reminder that Indigenous people approach finances in a fundamentally different way than most Canadians.

Sudden wealth presents a problem for almost anyone, whether you’re a lottery winner or the recipient of a major court settlement. Regardless of the source or reason, the new money can generate excitement matched with anxiety. For First Nations, Métis and Inuit, the new availability of major compensation presents personal and collective opportunities – and gut-wrenching decisions.

Over the past few decades, Indigenous communities have negotiated settlements and compensation worth billions of dollars with various entities in Canada, including an unprecedented $50-billion child and family welfare deal concluded in July by National Chief Cindy Woodhouse Nepinak of the Assembly of First Nations. Some funds are personal in nature, such as compensation for the horrific actions that took place in residential and day schools, and for the removal of children from their families during the Sixties Scoop. In these cases, the money goes directly to the victims and their families, with no Indigenous or national government involvement.

Read More: https://macdonaldlaurier.ca/in-handling-windfall-payments-indigenous-groups-are-focusing-on-the-collective-karen-restoule-and-ken-coates-in-the-globe-and-mail/

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