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Teach children finance skills, says MP

A Liberal Democrat MP has called for financial education to be regarded as a key subject that should be taught in schools.

Phil Willis, a former education spokesman, told parliament that personal finance skills should be included in the national curriculum as a standalone subject that could be examined.

He stated that financial education should be considered to be as important as other key skills, such as literacy and numeracy.

Mr Willis continued: "Today's young people face a more complex financial picture.

"It appears that as we have become more affluent, we have abandoned our senses when it comes to finance."

He added that financial illiteracy will remain "the norm in our society" if the government does not recognise this and address the problem.

According to the Personal Finance Education Group, Britain's overall level of consumer debt is more than £1.25 trillion.

The organisation is campaigning for schools to deliver personal finance education as part of the national curriculum.

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18/04/2007 13:15:47

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