APPG on Financial Education for Young People Report Launch in Parliament
The All Party Parliamentary Group on Financial Education for Young People launched a report into the effectiveness of financial education in UK schools on 23rd May
The All-Party Parliamentary Group report on Financial Education for Young People has been produced following evidence sessions from several organisations from across the financial services, financial capability and education sectors in four evidence sessions in parliament.
This inquiry was chaired by Suella Fernandes MP, while the overall APPG is chaired by Mark Garnier MP. The report was launched at the APPG event in the Houses of Parliament on Monday 23rd May, where Martin Lewis OBE, (Founder of MoneySavingExpert.com) and Sarah Willingham, star of the BBC’s Dragon Den, were also speaking.
Other speakers included Michael Mercieca, Chief Executive of Young Enterprise, Suella Fernandes MP and Caroline Rookes, Chief Executive of the Money Advice Service.
Among several recommendations, the report calls for statutory financial education to be extended to primary level and for Ofsted inspections to more explicitly address the extent to which schools provide young people with financial knowledge and skills. Improving teacher confidence is also addressed in the report, with a call for the Department for Education to ensure that new teachers learn about financial education during their initial teacher training.
The report can be read in full here.