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Financial Education

Volume 455: debated on Thursday 25 January 2007

16. To ask the Chancellor of the Exchequer if he will make a statement on the Government's strategy to improve financial education and public knowledge of basic financial products. (111037)

The Government launched their long-term approach for financial capability on 15 January. It will improve information and advice for young people, promote opportunities for children to learn about money, and signpost to information and advice for parents through extended schools and Sure Start children’s centres. It will also give financial education a secure place on the educational agenda and issue revised curriculum guidance, promote the Child Trust Fund as a tool for teaching financial education, and integrate financial education into basic skills learning by promoting the use of financial education as a route to literacy and numeracy skills. The Government have also asked Otto Thoresen, Chief Executive of AEGON UK to lead a feasibility study to design a national approach to generic financial advice.