Will Stone
Main Page: Will Stone (Labour - Swindon North)Department Debates - View all Will Stone's debates with the Department for Education
Financial Education
Will Stone Excerpts(1 day, 14 hours ago)
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Will Stone (Swindon North) (Lab)
I thank the hon. Member for Broadland and Fakenham (Jerome Mayhew) for bringing forward this important debate on something that we do not discuss enough. I was not hugely knowledgeable on it until my partner became a financial adviser; we have lots of financial discussions now. More often than not, she is telling me that I spend too much money on Warhammer. I say it is an investment—it is definitely not.
Those discussions opened my eyes massively, and some shocking things came up. For example, only 20% of self-employed people pay into a pension. That is a ticking time bomb, and we must address it. I really think that comes through education. As the hon. Member for Mid Leicestershire (Mr Bedford) said, our habits towards money are formed at an early age. The evidence for that is overwhelming, and as a Government we need to start getting on top of it. I saw my hon. Friend the Member for Harlow (Chris Vince) squint a little when Members were talking about changing what and how teachers should teach—he has a terrible poker face—but we need to look at how to introduce this across the board so that it does not put more pressure on teachers, because they are under enough under enough pressure as it is.
Some good things are going on in the private sector. We have great companies such as Nationwide, whose headquarters are in Swindon—something I am incredibly proud of. We also have Santander, which is not in Swindon, but it is still doing great work so I will give it praise. The Government need to work with some private companies to see what they are doing and what services they can offer alongside our schools, so that we can let our teachers teach and not overburden them.
I am really proud to be part of this debate. If we want to look after people and ensure that they do not suffer with mental health issues due to financial stress, we have to get a grip of this. I look forward to hearing what the Minister and other Members have to say.