Julian Knight MP has welcomed a new report on providing financial education to young people in schools.
As a leading member of the All-Party Parliamentary Group (APPG) on Financial Education for Young People, he has spearheaded in a six-month inquiry by MPs into how schools can better equip pupils to manage their money.
Children and young people are exposed to an increasing range of financial decisions, and over 20 per cent of the UK’s over-indebted population is aged between 18 and 24. Yet teaching of such basic life skills in school is highly uneven, with many youngsters missing out completely.
The policies recommended by Julian and the committee include: making financial education a statutory requirement in primary school; provision of appropriate support to teachers that they can teach this subject confidently; and the creation of a new money guidance body to help to coordinate these efforts and share best practices.
Commenting on the report, Julian Knight said:
“Children are growing up faster than ever, and it’s essential that our schools equip them with the skills they need to be confident, independent adults.
“As a former consumer journalist I know just how important financial literacy really is: not only can it help you avoid the horrors of deep debt, but it can also save you lots of money in your day-to-day life too.
“In April I joined Martin Lewis, the editor of moneysavingexpert.com, to call for reform to the National Curriculum to ensure that young people receive the financial education they need. The recommendations of this report represent a very big step in the right direction.”