The British Bankers Association has joined with the Treasury Select Committee in identifying improved financial education in schools as one of their key objectives in increasing financial inclusion.
Angela Knight, chief executive designate of the BBA, says:Banks have done a great deal to promote financial inclusion.
“Theyve opened over a million basic bank accounts for people who had previously had no bank account at all, contributed 1.82m towards the Post Office Card Account and fund free independent debt advice to the tune of millions of pounds each year.
“On top of this, the industry provides support to the provision of financial education in schools through organisations such as the Personal Finance Education Group.
“The industry is pulling its weight towards promoting financial awareness, but it cant do it alone; financial education is something that everybody has a right to, the same as any other form of education.