Young People: Personal Finances

Lord Laming Excerpts

Thursday 7th February 2013 Lords Chamber

[Lord Nash]

The noble Lord is absolutely right. The draft programme for study states that pupils will be equipped with the financial skills to enable them to manage their money on a day-to-day basis as well as to plan for future financial needs, and that they understand the concept of wages, taxes, credit, debt, financial risk and a range of more sophisticated financial products. I should hope that any proper education on that front would cover those points.

[Lord Laming]

Will the Minister assure the House that in his new ministerial responsibilities he will give particular attention to young people who have been in the care of the state? Does he agree that we expect the greatest coping skills from the young people who have had the fewest opportunities in life and do not have families to support them after they leave school?

[Lord Nash]

I note the noble Lord’s comments. We have met with a wide range of SEN groups in formulating our plans. Appropriate adjustments will be made to exams for pupils in that category.