Parliamentary support for personal finance qualification

Early Day Motion 291 also calls on the Government to encourage all schools to offer a standalone qualification in personal finance, and to train more teachers to teach financial education.

Julia Goldsworthy, Liberal Democrat MP and Shadow Chief Secretary to the Treasury, who tabled the motion, said: “Many people struggle to manage their finances effectively, primarily as a result of poor levels of financial capability. This has implications not only for the individual concerned but also for the wider community and the economy as a whole. However, with the exception of the Ifs School of Finance qualifications, there is currently a real lack of financial education in schools and that is why we are calling on the Government to take such action.”

Anne Kiem, director of external affairs at the Ifs School of Finance, added: “We are pleased that so many politicians from across the political spectrum have called on the Government to encourage all schools to offer a standalone subject in personal finance. We are particularly pleased that Labour, Liberal Democrat and Conservative members of the influential Treasury Select Committee have also signed the motion.”