MARK HUNTER MP WELCOMES “HUGE VICTORY” FOR FINANCIAL EDUCATION CAMPAIGN
Cheadle MP Mark Hunter has welcomed a "huge victory" for the campaign for compulsory financial education in schools, following the publication of the new draft National Curriculum for England.
The new curriculum will see personal finance taught in both mathematics and in citizenship education for 11 to 16 year olds, making financial capability a statutory part of the curriculum for the first time. The new curriculum focuses on the functions and uses of money, wages, taxes, debt, and money management.
Mark has been a supporter of the campaign since he met with Martin Lewis of moneysavingsupermarket.com, to discuss the campaign in early 2011. The campaign has also been supported by national charity pfeg (Personal Finance Education Group) and tens of thousands of teachers and parents across the country.
Commenting, Money Saving Expert founder Martin Lewis said:
"For over 20 years we've educated our youth into debt when they go to university, without educating them about debt.
"We desperately need to break the cycle of financial illiteracy in the UK - one of the causes of our current economic crisis and a huge contributor to continued mis-selling epidemics.
"Education is a cheap and easy way to fix the problem. Until now, while the public has clamoured for it, and over 100,000 supported the e-petition on it, political action has been flaccid.
"So, I am jumping for joy at the news of financial education joining the national curriculum as a part of citizenship for the first time - providing, of course, the detail lives up to the announcement.
"What's most important is the Government has done this in citizenship, which is a compulsory subject.
"This, therefore, is the first step to ensuring that every child has at least some basic financial education to help them navigate our complex consumer economy. A genuine game-changer."
Commenting, Mark Hunter MP said:
"Congratulations to all those teachers, parents and campaigners on this successful campaign.
"Well done also to Martin Lewis who has played a very important role in bringing this issue to the nation's attention.
"The next generation must be equipped with the knowledge and skills that will allow them to make the most informed financial decisions for themselves.
"It is only through instruction and educational reform that this goal can be attained.
"It has been a pleasure working with this group, and by working together, our children will be able to make informed financial decisions"