The possibility of introducing financing qualifications into schools across the UK has been raised in parliament.
Phil Willis MP addressed the House of Commons this week in a speech that touched upon the need for financing education to become part of the national curriculum - and for school children to sit exams demonstrating their understanding of financial services.
"It appears that, as we have become more affluent, we have abandoned . our senses when it comes to finance," he contended.
This financing stance has now been welcomed by Phil Hall, public affairs manager at the ifs School of Finance, provider of personal finance GCSE and A-level qualifications.
"Improving financial education is crucial to avoiding this continuing lack of financial capability," he argued.
Over recent years, the government has introduced several schemes to try and encourage more consumers to learn about banking services.
For instance, basic banking accounts were launched to provide financial services primarily to low-income families that might not have used a bank in the past.
These financing accounts typically offer features such as a debit card but not large overdraft facilities or credit cards to dissuade people from spending excessively.
News Side
Financing qualifications discussed by government
Thu, 19 Apr 2007
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