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Credit Action appalled as compulsory financial education scrapped

Credit Action learned today that the provision in the Children, Schools and Families Bill to make financial education a part of compulsory PSHE has been scrapped, a victim of the 'wash-up' process.

 

This is a big disappointment to us here at Credit Action, as ensuring financial education is mandatory gives the next generation crucial information and understanding of how to be financially informed and capable consumers, a firm foundation on which to build. 

 

The Bill, which contained requirements on schools to teach sex education for one year without parents having the choice to opt-out, led the PSHE section of the Bill to be dropped altogether, after strong opposition from the Conservatives.

 

At Credit Action we strongly believe that financial education should be compulsory in the curriculum and we will continue to lobby for this change to be implemented from any future government.

 

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chris
Comment
Financial Education
Sun May 02, 2010, 20:14:25

You may be appalled but should this really be a surprise to anyone? After all a financially informed population will be less likely to fall for banking cons and scams and this would hurt profits. Can't have that.

Kevin
Comment
Financial Education in Schools
Sun May 02, 2010, 00:10:47

As a Christian & in my role as a CAB Financial Literacy worker, I was also appalled that this bill was dropped.

People who use the Money Saving Expert website may have seen the response by each political party to this and other subjects - see this link here for their responses:-

http://www.moneysavingexpert.com/banking/MSE-Leaders-De bate#education

For those wishing to express their concern, please sign up for the petition here:-

http://www.financialeducationpetition.com/

calling on whoever the new prime minister will be to restore legislation to make personal finance education a compulsory part of the curriculum in schools from September 2011.