The All-Party Parliamentary Group on Financial Education for Young People

About the APPG

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:

• Current provision of financial education in schools and colleges
• Better equipping young people to make informed financial decisions
• Help making resources and qualifications available to young people in education
• Supporting schools in the delivery of financial capability
• Developing the curriculum to require schools and colleges to provide financial education

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.

Recent News:

Inaugural Meeting

The APPG was successfully re-established at its inaugural meeting on Monday 9^th September, engaging new MPs to discuss key focuses in the coming months and to elect its Officers:

Jerome Mayhew MP (Chair, Cons)

Lord David Blunkett (Vice-Chair, Lab)

Claire Hazelgrove MP (Vice-Chair, Lab)

Baroness Amanda Sater (Vice-Chair, Lab)

Also in attendance at the meeting were Andrew Ranger MP, David Baines MP, Shaun Davies MP, David Burton-Sampson MP, and Blake Stephenson MP, showing a great interest from new MPs in ensuring every young person receives meaningful financial education.

The APPG has over 75 Members, and we hope to continue to grow our membership and engagement with the new government this coming year.

Recent News

Chair of the APPG on Financial Education Jerome Mayhew MP hosted a Parliamentary Drinks Reception in partnership with Young Enterprise and supported by HSBC UK on the evening of Monday 9^th September, engaging a wide range of stakeholders of the financial education sectors with parliamentarians and policy makers to ensure that financial education remains top of the education agenda. The reception was well attended, with many new and returning MPs in attendance and speeches from Jerome Mayhew MP, Martin Lewis CBE (award-winning journalist and founder of Money Saving Expert) and Jose Carvalho (Head of Wealth and Personal Banking at HSBC UK). A key theme of the evening was the need for collaboration and coordination across the sector, and the continued push to ensure that every young person receives a meaningful financial education to best prepare them for the future.

We were delighted to see so many members of the Financial Education Forum at the reception, and look forward to continue working with the sector to advocate for financial education within government.

Upcoming Work

The APPG is planning to launch a formal inquiry into financial education provision across the devolved nations, with an opportunity for the education, financial and policymaking sectors to submit evidence and examples of best practice. This inquiry aims to identify what is working in the different education systems to enable effective financial education and what should be scaled up and replicated to ensure a more equitable and sustainable provision across the UK.

Research is currently being undertaken by Young Enterprise and Knowledge Weave into what these factors might be, and we will update the Forum when there is an opportunity to hear more about this research and to submit evidence to the inquiry.