Financial education welcomed - MEP

Euro-MP Paul Nuttall

Moves for financial education to be added to the National Curriculum have been welcomed by UKIP MEP Paul Nuttall.

An e-petition has reached the 100,000 threshold for a parliamentary debate on the subject to be considered and meanwhile an all party parliamentary group is to publish its results on introducing financial education in the classroom.

"I believe this is a step in the right direction," said Mr Nuttall, Euro-MP for the North West.

"It is so easy to make the wrong financial choices if you do not have at least a basic knowledge about the topic. The vast number of people, of all ages, struggling with credit card debts is just one manifestation of this.

“We are all painfully aware what difficult economic times we live in and householders particularly need to carefully balance their books to stay in the black.

"I think introducing it as compulsory subject in schools at an appropriate age is an excellent idea. Some children come from homes where sensible parents can guide them but many do not have that advantage.”

"I do believe, however, that much more attention must be given to the 3Rs. Youngsters need a good grasp of basic mathematics to be able learn how to handle their own finances," said Mr Nuttall.