Rachel Earle, Justin Tomlinson MP, Martin Lewis & Archna Luthra after discussing financial education
Article from Martin Lewis - MoneySavingExpert.com blog:
Bingo! There’s a politician out there as obsessed with getting financial education in schools as I am. After noticing he’d been asking questions in the commons about it last week, I met up with Justin Tomlinson, one of the new intake of MPs.
The meeting was buzzing from the get go. Very quickly we realised we were singing from a similar song sheet (see my financial education editorial for my arguments on why it’s so important), so we moved straight onto brainstorming ideas. Along with MSE Archna and his researcher Rachel, we were flick-flacking concepts across the table at speed.
New All Parliamentary Financial Education Group
Most importantly this ISN’T a party political issue for him. While he’s the Tory MP for North Swindon (see the Justin Tomlinson MP site), he’s tackling this as an individual and wants to set up an ‘All Party Group‘ (APG) to support compulsory financial education.
APGs are informal bodies within the commons, which can be actioned if there are over 20 MPs supporting it. As the name suggests, it’s where politicians from all sides of the political divide support and work on a common goal.
This this is the best news I’ve heard since financial education fell on the sidelines at the last minute before the general election. It’s been a real struggle to get any time or interest from the Education Secretary Michael Gove on this, so to gather the backing of a group of MPs is crucial to getting this back high up on the political agenda.
I’ve always kept MSE clear of party politics before and want to continue to do so. Yet this is an all party group, so I’ve offered that the site will contribute funds (where appropriate) to cover the expenses of the group (ie, any photographers, press needs, teas and coffees for meetings etc), as well as any research issues we can help with. After all, this is a defining issue in what MoneySavingExpert.com stands for.
Help get your MP on board
When the group is up and running, I will be including a note on it in the weekly email and asking people to contact their MP to ask them to support it, as we need the politicians to realise how crucial this is.
Having done polls on the site on this, it’s a no brainer. 97% of people voted that we should have this in our schools (see financial education poll), so it’s an easy win for politicians to come alongside us.
Even if they’re just willing to stick their name to it, rather than get actively involved, that’s an important step. The more supporters the greater the draw at meetings, and the more the front benchers will realise this is an important issue.
Of course this isn’t just about the APG, we came up with a bag of other ideas to publicise and push the campaign on to the main agenda too, so fingers crossed this is another crucial marker.
To view Martin's blog please click below:
http://blog.moneysavingexpert.com/2010/10/25/mps-join-the-call-for-compulsory-financial-education/
Justin Tomlinson MP, "I was delighted that Martin Lewis has thrown his full weight behind this crucial campaign. Since I was first elected as an MP I have been pressing for this through written questions, hosting meetings and speeches. Now with Martin's support, I will set up an All Party Parliamentary Group to continue to champion this issue.
It is essential that we equip young adults with the skills needed to understand and handle the financial challenges ahead. There are so many potential hurdles and issues they will face, including: savings, debt, mobile phone bills, mortgages, student fees, unravelling financial marketing messages etc. We have a duty to equip people with the skills and confidence to make their own informed decisions.
To me this is a no-brainer campaign. I have been overwhelmed with support for this campaign, so I am determined to play my part in delivering this common sense change."
Swindon Advertiser Article:
Money saving expert Martin Lewis is backing a campaign launched by MP Justin Tomlinson to make financial education compulsory in schools.
The North Swindon MP has asked a number of questions on the subject in parliament and is keen to set up an All Party Parliamentary Group (APPG) to champion the issue.
His work caught the eye of Mr Lewis, who has brought financial consumer issues to the masses, and he has met with Mr Tomlinson to discuss the matter further.
“It’s a subject that I’ve been talking about since I was elected,” said the Tory MP.
“I strongly believe that we should equip all young people with these life skills for when they leave school.
“I know from my own friends’ experience how complex it can be to deal with getting a mortgage, signing up for the mobile phone contract, taking out store cards, managing debts and unravelling marketing messages and everyone I speak to seems to agree with me that we should be teaching this in schools.”
Mr Lewis became involved after noticing Mr Tomlinson’s questions in parliament and they arranged a meeting.
Writing on his blog he said: “The meeting was buzzing from the word go.
“Very quickly we realised we were singing from a similar song sheet, so we moved straight onto brainstorming ideas.”
He was so impressed with the idea of setting up the APPG that he has offered to help fund the group.
“This this is the best news I’ve heard since financial education fell on the sidelines at the last minute before the general election,” he said.
“It’s been a real struggle to get any time or interest from the Education Secretary Michael Gove on this, so to gather the backing of a group of MPs is crucial to getting this back high up on the political agenda.
“I’ve always kept MoneySavingExpert.com clear of party politics before and want to continue to do so. Yet this is an all party group, so I’ve offered that the site will contribute funds, where appropriate , to cover the expenses of the group, as well as any research issues we can help with.
“After all, this is a defining issue.”
Swindon-based Nationwide have also been in touch with Mr Tomlinson to offer their support on the issue.
“They are a fantastic local company and I’m delighted that they have given me their support on this. I’m very grateful,” he said.
“To me this is a no-brainer campaign. I have been overwhelmed with support for this campaign, so I am determined to play my part in delivering this common sense change.”