§ Mr. DrewTo ask the Secretary of State for Trade and Industry what plans his Department has to provide more support to money management education. [140095]
§ Dr. Howells[holding answer 27 November 2000]: I see all forms of consumer education as a priority, and acknowledge that money management is an essential part of everyday life. People need basic skills, knowledge and understanding to manage their personal finances and provide for their future. Consumer education should be a continuing process, starting in schools and continuing through adult life.
Changes to the National Curriculum have brought consumer education and personal finance education to the fore.
That is why the DTI, in partnership with the DfEE, Financial Services Authority, the Basic Skills Agency and the Consumers' Association, is managing an EU funded project to produce high quality teaching materials. The teaching materials will help young people and adults develop consumer skills and knowledge in various topics including budgeting and banking; money management and also personal finance for 14–16 year olds. In Spring 2001 the materials will be disseminated though teaching establishments and the local communities in England and Wales.