Pupils to be taught banking

Every child should be taught personal finance as part of the school curriculum, a cross-party group of MPs has urged.

After an eight-month inquiry, the All-Party Parliamentary Group on Financial Education for Young People called on ministers to ensure school-leavers are better equipped to avoid running into money problems.

A report published today demands that personal finance education be made compulsory in schools. Financial numeracy should be taught within mathematics, they said.

Only 45 per cent of teachers surveyed by the inquiry said they had ever taught the subject.