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MPs urge stranded assets to fund financial education
By Jean-Baptiste Andrieux 28
th May 2021 12:23 pm
Nearly 40 MPs and peers have signed a joint statement calling for financial education for every primary school aged child.
This call comes as financial education charities expressed concern about rumoured spending cuts to financial education in the Money and Pensions Service’s (Maps) upcoming budget.
Parliamentarians hope money can be found from unclaimed assets set to be released from the financial services sector by the Dormant Assets Bill.
Where this is not possible, the money is put into important social and environmental initiatives across the UK.
It was delivered via live video link by the charity, MyBnk. Mr Sharma joined the class as they got to grips with a range of financial subjects, including understanding the value of money, the difference between needs and wants, and the long-term benefits of saving. KickStart Money is funded by a coalition of 19 financial services firms who have donated more than £1m. It has gone out to almost 19,000 children in three years. Mr Sharma said: “The financial impact of the pandemic has demonstrated the importance of saving for unexpected emergencies. “Habits that impact our ability to save in later life are formed as young as seven, making it crucial we teach the next generation positive money mindsets at a primary level.”