PARLIAMENTARY EARLY DAY MOTION
INSTITUTE OF FINANCIAL SERVICES (9 May 2006)

That this House notes with concern that the total debt of British families is larger than the UK's GDP, that 50 per cent. of the population does not understand what 50 per cent. means, and that 79 per cent. of consumers do not know what an `APR' is; further notes that little substantive progress has been achieved to address this problem, believes that financial capability is an essential life skill along with numeracy, literacy and IT; recognises the outstanding work of the Institute of Financial Services in developing qualifications in financial capability across the 14 to 19 age range including in 1,000 schools; and calls on the Government to build on that experience by investigating the provision of a financial capability programme in all schools, colleges and adult education institutions and by training suitable teachers to deliver the programme.

Sponsored by:
Julia Goldsworthy (Liberal Democrat)