Martin Lewis took to Twitter to show his support (Image: ITV)

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Yesterday a new report was published stating that UK schoolchildren should be taught basic money skills in primary schools by 2030.

This move would also mean that financial education would be added to the national curriculum for primary schools – something that is already offered in secondary schools.

The report in question was created by the APPG (All Party Parliamentary Group) regarding Financial Education for Young People and is backed by money-saving expert, Martin Lewis.

It asks the Government to set a target in order for primary school children to have access to a financial education alongside the investment and willing needed to make this happen.

The APPG, which is made up of 150 MPs and peers from different parties, published the report after it was discovered that only one in three children receive financial education in primary school.

Financial education could be added to the national curriculum for primary schools

The report highlights that this puts young people at risk of fraud, debt and financial abuse.

While the APPG can raise the awareness of such an issue, they do not have the direct power to pass laws themselves and it will now fall to the Government to act upon the findings and subsequent recommendations.

The report noted Martin Lewis’ appearance this year in front of the House of Lords Liaison Committee during which he argued that financial education and inclusion needs to be a priority.

Martin Lewis took to Twitter yesterday to show his support for the report in a series of tweets.

Both Martin and MoneySavingExpert.com have battled for years to improve financial education for people of all ages. One of various efforts is the creation of the free-to-download first ever financial education book titled ‘Your Money Matters’.

This endeavour was funded jointly by both Martin Lewis and the Money and Pensions Service.

Originally rolling out versions across England and Northern Ireland in 2018, last month the book arrived in secondary schools in Scotland too.

Just shy of 27,000 hard copies of the free 'Your Money Matters' book were delivered to over 350 schools across the country following the digital launch of the Scottish version in March 2021.

Martin Lewis said: "The pandemic has shown the lack of personal financial resilience and preparedness of the UK as a whole. Not all of that can be fixed by improving financial education, but a chunk of it can.

“Of course, we need to educate people of all ages, yet young people are professionals at learning, so if you want to break the cycle of debt and bad decisions, they're the best place to start.

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"I was one of those at the forefront of the campaign to get financial education on the curriculum in England in 2014, and we celebrated then thinking the job was done. We were wrong. Schools have struggled with resources and there's been little teacher training.

"Something else was needed to make it easy for schools and teachers. So even though I questioned whether it's right that a private individual should fund a textbook, no one else would do it, so I put pragmatics over politics and did it in 2018.

"I'm delighted that now we've proved the success of that book in England, the Money and Pensions Service has agreed to team up to provide this much-needed resource for Scotland – adding a rightful sense of officialdom to the whole project."