On Tuesday, Peter Bedford MP introduced a 10 Minute Rule Bill to Parliament aiming to mandate financial education for all young people aged 4-18 in English schools. The Financial Education Bill, which has gained cross-party support in Westminster, seeks to build on the work of previous governments by mandating primary schools and post-16 educational settings to teach students the essential skills for managing their money.
Peter believes that universal financial education will significantly help young people understand financial matters more comprehensively.
The MP for Mid Leicestershire, who has engaged with a range of financial institutions and MPs, emphasised that there is a severe lack of financial understanding across the UK public. He argued this has contributed to people’s struggles with saving, budgeting, and financial planning.
Peter’s proposal is a call to action to improve financial education nationwide. He hopes that better education will equip young people with the tools to save, budget, and manage money effectively.
Peter’s ambition is to ensure that young people do not “walk into financial ruin,” and that they are empowered to lead “successful and prosperous lives, irrespective of their background.”
