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Financial education

EDM (Early Day Motion) 1630: tabled on 18 September 2023

Tabled in the 2022-23 session.

This motion has been signed by 10 Members. It has not yet had any amendments submitted.

Motion text

That this House is concerned that research undertaken by Compare the Market and MyBnk shows that only 2 in 5 young adults are financially literate in the UK; recognises that the same research showed that 70% of young adults support the regular provision of financial education lessons for students at school; further recognises that people who are unemployed or from lower-income backgrounds are more likely to have lower financial literacy; believes that increased financial literacy would ensure people gain the skills they need to manage money in a cost-effective way, which is especially pertinent during the current cost-of-living crisis; and urges the Government to work with schools to guarantee 30 hours a year of financial education lessons for every 11 to 18 year old, irrespective of which education pathway they are on.