Justin Tomlinson MP, Chair of Financial Education For Young People APPG
and Martin Lewis of moneysavingexpert.com
Nationwide Building Society has put its weight behind a campaign to make financial education a compulsory part of the UK school curriculum. The campaign was started by consumer champion Martin Lewis and North Swindon MP Justin Tomlinson, who chairs the All Party Parliamentary Group for Financial Education for Young People.
Nationwide believes that financial awareness is essential and that the call for compulsory education in schools is a crucial step in raising the level of financial literacy in Britain. Tens of thousands of people have pledged their support via an online petition set up by consumer champion Martin Lewis and backed by Justin Tomlinson MP. Now Nationwide is encouraging its members to sign up.
Graeme Hughes, Nationwide’s Group Director for HR and Corporate Affairs, explains: “Teaching children about the basics of money will be hugely important to them when they become adults. Understanding concepts such as saving, managing money and the impact of debt means they will be more confident about their finances as they get older and we hope less likely to have money worries.
“Nationwide is backing this campaign because we feel that making financial education a part of the school curriculum will ensure that the subject is taught correctly and consistently in the best place possible. We are encouraging our 15 million members to support the petition and we hope they will encourage their friends and families to do so too.”
Martin Lewis, responsible for kick starting the movement, said: "It's great Nationwide are joining the campaign to get 100,000 signatures to force MPs to debate this. Together it's time we took the agenda to the politicians to ensure that some time is dedicated to ensuring our kids are properly equipped to deal with our ever more complex consumer economy."
Justin Tomlinson, Swindon MP said; “In an ever increasingly complex financial world, it is vital that we educate the next generation about personal finance in order to ensure that they are equipped to make informed financial decisions. I am pleased that financial education is supported by so many people. It is clear that we need to improve provision in schools, which is why the All Party Parliamentary Group for Financial Education for Young People is undertaking an inquiry into this area.”
People can pledge their support for the campaign by signing the online petition at https://submissions.epetitions.direct.gov.uk/petitions/8903