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428380
star this property registered interest false more like this
star this property date remove filter
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HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Debts: Young People more like this
unstar this property house id 1 more like this
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25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what steps the Government is taking to reduce the indebtedness of people aged 18 to 25. more like this
star this property tabling member constituency Strangford more like this
star this property tabling member printed
Jim Shannon more like this
star this property uin 16529 remove filter
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2015-11-23more like thismore than 2015-11-23
star this property answer text <p>The government is committed to ensuring that young people can access the support they need in order to make informed financial decisions and avoid problem debt.</p><br /><p>To ensure that young people leave school with an understanding of personal finance, financial literacy was made part of the secondary school National Curriculum in September 2014; and the mathematics curriculum has also been changed to include topics on financial decisions. This means that for the first time, young people now learn about the importance of budgeting, sound management of money, credit and debt, as well as understanding different financial services and products.</p><br /><p>The government set up the Money Advice Service (MAS) in 2010 to enhance consumers’ understanding and knowledge of financial matters. MAS provides a single point of debt advice for consumers, including people aged 18-25, and allows those facing problems with debt to obtain free and impartial money advice. MAS also recently launched their nationwide Financial Capability Strategy, which will specifically consider how the needs of young people should inform provision going forward.</p><br /><p>The government is currently consulting on how the provision of public financial guidance could be made more effective for consumers.</p>
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin more like this
star this property question first answered
less than 2015-11-23T11:43:20.86Zmore like thismore than 2015-11-23T11:43:20.86Z
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4107
star this property label Biography information for Harriett Baldwin remove filter
star this property tabling member
4131
star this property label Biography information for Jim Shannon more like this