Commons Sense

House of Commons · General Debate

Financial Education 2025-03-11

11 March 2025 · 1 other contributor

Opened by Peter Bedford Con Mid Leicestershire

EducationEconomy

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Peter Bedford raised concerns about financial education 2025-03-11 in the House of Commons. Other MPs contributed to the debate.

Key points

  • Concerns were raised about the financial crisis looming due to lack of financial education.
  • Two fifths of Brits have less than 1,000 in savings, leading to financial anxiety.
  • The bill proposes to integrate financial education into primary, secondary, and tertiary education systems.

How the debate unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said.

Opened the debate

Peter Bedford Con Mid Leicestershire

Without financial education, we are creating the greatest financial crisis of our time. Two fifths of Brits have less than £1,000 in savings and money has become synonymous with anxiety. The problem is that young people worry about money every single day—yet we continue to spend due to easy offers popping up on screens. Around 20 million people use buy now, pay later schemes leading to high interest rates and growing debt. This Bill aims to consolidate financial education in secondary schools and extend it to primary and tertiary education to teach young people how money works, the principle of saving, and the dangers and opportunities of compound interest.

Other contributors (1)
  • Peter Bedford Con Mid Leicestershire

    Money habits are formed at an early age—indeed, from seven years old—and yet many school leavers remain in the dark about financial matters. Fifty-five per cent of employers employing apprentices are aware that their workers face financial difficulties. The Bill will reduce inequality and help explain the importance of property, benefits of home ownership, a comfortable retirement, and what it takes to provide for one’s family.

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