Oral Answers to Questions

Bob Blackman Excerpts

Tuesday 7th February 2023 Commons Chamber

[Bob Blackman (Harrow East) (Con)]

17. What steps his Department is taking to help improve financial inclusion for under-18s.

[The Economic Secretary to the Treasury (Andrew Griffith)]

For under-18s, financial education is a key part of building financial capability. The statutory citizenship curriculum provides essential knowledge so that 11 to 16-year-olds are prepared to manage their money well.

[Bob Blackman]

I thank my hon. Friend for that answer. Cambridge University has demonstrated in its research that it is actually primary school education that is vital to prepare young people for financial education, but at the moment only one in five children has access to this. Will he consider using part of the dormant assets fund, which I believe totals £880 million, to gain access for children to financial education?

[Andrew Griffith]

My hon. Friend makes an important point about it never being too early to start the important work of financial inclusion. I am convening the financial inclusion policy forum next week, and I look forward to engaging with him on this all-too-important topic.