New debt education scheme launched

The government is launching an £11.5 million financial education programme in schools to help young people learn how to handle money matters.

Entitled My Money, the initiative will be led by the Personal Finance Education Group and will aim to give pupils a better understanding of debt management.

It is being spearheaded by Ed Balls, the secretary of state for children, schools and families.

Commenting on the launch, Mr Balls said: “It is more crucial than ever that young people are fully equipped with the confidence to manage their money effectively both now and when they become adults.”

He added that financial capability education is high on the government’s agenda.

Meanwhile, the ifs School of Finance has revealed that politician Michael Portillo is to speak at its upcoming Yorkshire regional networking event, held at Leeds United Football Club on November 11th.

Mr Portillo has previously served as chief secretary to the Treasury and as the shadow chancellor.

By Jamie Price