Financial education for young people – new All Party Parliamentary Group
A new All Party Parliamentary Group for Financial education for young people was set up on 31st January. More than 120 MPs from all parties have joined together to call for the introduction of compulsory financial education in UK schools to ensure young people understand money, consuming and debt.
The APPG aims to provide a medium through which MPs, Peers and organisations with an interest in financial education can:
- Discuss the current provision on financial education in schools.
- Ensure young people are equipped to make informed financial decisions.
- Help make resources and qualifications available to young people in education.
- Support schools in the delivery of financial capability.
- Encourage the introduction of a requirement on schools to provide financial education.
‘Young people are entering an increasingly complex financial world of store cards, mobile phone tariffs, credit agreements and financial marketing. Through my MP casework, I have seen first-hand the implications for those who have made poor decisions, too often through a lack of understanding.
‘I am passionate that financial education's the best way to equip all young people with the relevant skills to make informed decisions and empower them as consumers. I have been working hard to secure cross-party support to help champion this cause, so the next generation is equipped to confidently address the financial challenges ahead.’
Justin Tomlinson MP, Chair of the APPG
The group is led by Conservative MP Justin Tomlinson and the secretariat is being provided by the Personal Finance Education Group (PFEG)]. Supporters of the group range from MPs and financial education organisations to key personal financial experts including Martin Lewis from MoneySavingExpert.
Link to All Party Group on financial education for young people
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