§ Mr. GardinerTo ask the Chancellor of the Exchequer what tax incentives are available to companies providing free financial education for(a) children and (b) adults; and how these fit into the Government's policy to reduce financial illiteracy. [145710]
§ Ruth KellyThere are no specific tax incentives in place aimed at encouraging companies to provide free financial education to children or adults.
Improving basic financial literacy is a key element of the Government's strategy to reduce social and financial exclusion, while tackling over-indebtedness, and promoting saving. We are doing this across government to help people identify and meet their financial needs. Key initiatives include:
the Saving Gateway, a transparent savings account with tailored financial advice and education;a framework for Personal, Social and Health Education (PSHE) that provides for personal finance education to be taught throughout Key Stages 1 to 4 of the school curriculum; andpension reforms that will help people make better informed choices about their retirement.We also work closely with the Financial Services Authority, which has rightly taken the lead in developing a national strategy for financial capability.