APPG Update for Financial Education Forum
The All-Party Parliamentary Group on Financial Education for Young People launched in 2011 and has grown to be one of the largest groups of its type within Parliament, with almost 150 members sitting in the House of Commons or the House of Lords.
The APPG enables MPs, Peers and other stakeholders with an interest in financial education to come together to discuss:
We work with Parliamentarians and the civil service to ensure that financial education is raised frequently in the House of Commons – building relationships with individual parliamentarians, Select Committees and other APPGs providing information and briefings for debates and parliamentary questions. In 2014, the APPG was successful in lobbying for financial education to be added to the secondary curriculum.
Please note that at the time of publication of this update, the APPG will have ceased all activity ahead of the general election. The hope is that the APPG will be reconstituted after the election.
Recent News:
AGM
The APPG successfully held its AGM in February this year to decide on focuses in the upcoming year, and elect its Officers:
Jerome Mayhew (Chair, Cons)
Lord David Blunkett (Vice-Chair, Lab)
Marion Fellows MP (Vice-Chair, Cons)
Baroness Amanda Sater (Vice-Chair, Cons)
You can read the minutes here.
Education Select Committee Inquiry into Financial Education
The APPG was pleased to see the call for evidence and subsequent report from the Education Select Committee on financial education in schools.
When the inquiry was called, the APPG hosted a roundtable with educators from across England to discuss the barriers raised in the APPG’s inquiry, Building Beyond Barriers, and potential solutions to help overcome these. This in-person session included six educators sourced by Young Enterprise, Secretariat to the APPG, Baroness Sater, Vice-Chair of the APPG, and was facilitated by the Schools, Sutdents and Teachers network (SSAT) with a report written by IFF Research.
This roundtable fed directly into the APPG’s response to the Education Committee inquiry into Financial Education (launched November 2023) to ensure that teachers voices were centred in discussions of improved support, guidance and resources. You can view the report from the roundtable here and read the APPG’s written evidence to the inquiry here .
The APPG were delighted to see the Committee’s recommendations, and you can read Chair Jerome Mayhew’s statement here.
Upcoming Activity:
The APPG has been in conversation with the Oak National Academy to learn more about their development of new Maths and Citizenship resources looking at financial education, which will be launched in the coming months.
The APPG have also been in initial conversations with exam boards from across the UK around the role exam boards can play in promoting financial education through mathematical examinations, amongst other subjects. We hope this work will develop further once the APPG resumes it’s activity following the general election.
Drinks Reception 9th September
The APPG has organised a Drinks Reception in Westminster on Monday 9th September in the evening (6-8pm) to mark 10 years since financial education was first added to the National Curriculum in England, gathering high-level stakeholders from across the financial and education sectors and policymakers to discuss what the next government needs to prioritise to ensure every young person leaves school having received meaningful financial education.
We will be sending invites when the APPG reforms after the General Election, but if you wish to know more please contact Young Enterprise.
Email: appg@y-e.org.uk