The All Party Parliamentary Group (APPG) on Financial Education for Young People has published ‘Care to talk about Money? The Importance of Financial Education for Children in Care’ following the Group’s inquiry earlier this year.
The report seeks to understand the measures being undertaken to support children in care and care leavers in their financial education, and what more can be done to support them in understanding how to form positive financial habits that are essential to independent adult life.
The report is informed by the Group’s inquiry on this earlier this year and includes recommendations based on 25 written submissions of evidence, as well as oral evidence from expert witnesses in Parliament. Young care leavers also spoke to MPs about their experiences of handling their finances. Recommendations cover advice for schools, foster carers, charities and businesses and local authorities and government.
CELCIS responded to the consultation in January 2019 and our Policy Implementation Lead Dr Louise Hill gave evidence at Westminster on 4 March 2019.
The APPG intends to meet with UK Government Ministers to discuss how they can take the recommendations to improve the financial education of young people in care and care leavers forward.