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03 FEB 2011

APPG for Financial Education

 

 

This week I was delighted to be among the founder members of a new All Party Parliamentary Group promoting financial education for young people and to be at the launch event, attended by Money Saving Expert, Martin Lewis.

In a recent study, 68 per cent of students were unable to identify the cheapest loan, when given a selection of different products to choose from.

I believe that the best way to beat the scourge of personal debt and drive unscrupulous lenders out of business is to equip the next generation with the information they need to make informed and responsible choices.

Hopefully, the group will be able to ensure that young people leave school with the knowledge and confidence they need to control their money rather than let it control them.

 

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