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Backbench debate and e-petition debate on Thursday, 15 December 2011, in the House of Commons, led by Justin Tomlinson. The answering members were Nick Gibb and Nick Gibb.

Financial Education

Unallotted backbench debate (part two). Motion that this House notes that young people today grow up in an increasingly complex financial world requiring them to make difficult decisions for the future, often without the necessary level of financial literacy. Agreed to on question.

Secondary information

Type
Parliamentary proceeding
Reference
537 c979-1029 
Session
2010-12
Department
Department for Education
Chamber / Committee
House of Commons chamber
Proceeding contributions
Justin Tomlinson | 537 c1028-9 (Link to this contribution) I will give a brief conclusion to what has been an extremely positive debate. I thank all Members wh...
Baroness Brown of Silvertown | 537 c1009 (Link to this contribution) May I ask my hon. Friend the question that I asked our hon. Friend the Member for Darlington (Mrs Ch...
Show all contributions (125)
Yvonne Fovargue | 537 c1008-9 (Link to this contribution) Thank you, Mr Deputy Speaker. I can promise that I will not take too long over my speech. It is alw...
Barry Sheerman | 537 c1009 (Link to this contribution) I have been in another debate in another place, so forgive me for intervening, but when I was Chair ...
Yvonne Fovargue | 537 c1009 (Link to this contribution) I completely agree. I am extremely concerned for the future, when the transition fund ends. To be ho...
Nick de Bois | 537 c1006 (Link to this contribution) My hon. Friend raises an important point about the leadership coming from within schools, but does h...
Andrew Percy | 537 c1004-6 (Link to this contribution) I understand that that would not be applied retrospectively—and a very sound recommendation it is on...
Speaker | 537 c1007-8 (Link to this contribution) Order. I do not want to introduce a time limit, but I am very concerned about the amount of time bei...
Andrew Percy | 537 c1006-7 (Link to this contribution) My hon. Friend must have been reading my notes over my shoulder, because that is exactly the point I...
Yvonne Fovargue | 537 c1010 (Link to this contribution) I would certainly encourage that, but I would like to see a more strategic approach to debt. I would...
Duncan Hames | 537 c1010-1 (Link to this contribution) I add my congratulations to subscribers to MoneySavingExpert.com on petitioning us for this debate. ...
Mark Garnier | 537 c1015 (Link to this contribution) I am incredibly grateful for that intervention and thank my right hon. Friend very much indeed. To ...
Lord Redwood | 537 c1015 (Link to this contribution) Three constituents have written to me to congratulate my hon. Friend and colleagues on the work they...
Mark Garnier | 537 c1013-5 (Link to this contribution) That is a neatly and well made point, but the hon. Gentleman will remember my hon. Friend the Member...
Lord Brennan of Canton | 537 c1013 (Link to this contribution) I accept the hon. Gentleman's point of view on deregulation, but does he not see the paradox in supp...
Mark Garnier | 537 c1013 (Link to this contribution) I want to get away from the need to regulate everything. We need to ensure that people are in a stro...
Lord Brennan of Canton | 537 c1013 (Link to this contribution) Would not another possible answer be regulating unauthorised bank overdrafts with more rigour?
Mark Garnier | 537 c1012-3 (Link to this contribution) It is a great pleasure to follow the hon. Member for Chippenham (Duncan Hames), who is doing a lot o...
Duncan Hames | 537 c1011-2 (Link to this contribution) We were made aware of online resources that students could use to supplement lectures that were avai...
Barry Sheerman | 537 c1011 (Link to this contribution) I am impressed by what the hon. Gentleman is saying about his research. Has there been any indicatio...
Fiona Bruce | 537 c1015-7 (Link to this contribution) I apologise to you, Mr Deputy Speaker, and to the Minister if it turns out to be necessary for me to...
Andrew Bingham | 537 c1018 (Link to this contribution) I am delighted to follow my near neighbour, my hon. Friend the Member for Congleton (Fiona Bruce). ...
Andrew Bingham | 537 c1018-20 (Link to this contribution) Yes, it was. I remember my late father taking me to Williams and Glyn's bank to open my first bank ...
Damian Hinds | 537 c1020 (Link to this contribution) Still waiting for it to come on!
Andrew Bingham | 537 c1020 (Link to this contribution) It is not a question of showing off: my hon. Friend never saw the results. In fact, my mother still ...
Andrew Bingham | 537 c1020 (Link to this contribution) I didn't do the electrics I left that to my dad. Schools have moved on. They now teach subjects suc...
Fiona Bruce | 537 c1017-8 (Link to this contribution) I believe that it is such an important issue that space should be made for it in both the PSHE and t...
Lord Brennan of Canton | 537 c1017 (Link to this contribution) The report says, and the hon. Lady has just said as well, that personal financial education should b...
Andrew Percy | 537 c1027 (Link to this contribution) My hon. Friend's points are exactly those that we identified during the inquiry and support the argu...
Damian Hinds | 537 c1026-7 (Link to this contribution) As my hon. Friend the Member for Lancaster and Fleetwood (Eric Ollerenshaw) has just said, it is dif...
Fiona Bruce | 537 c1025 (Link to this contribution) Does my hon. Friend agree that we ought to consider including this subject as an element of teacher ...
Damian Hinds | 537 c1027-8 (Link to this contribution) I cannot do geometry in a written speech without slides. I would be more tempted to go for the under...
Andrew Percy | 537 c1027 (Link to this contribution) It is true that the world does not stand still, but does my hon. Friend agree that if we give young ...
Damian Hinds | 537 c1027 (Link to this contribution) I recognise the point, and the report stimulates such debates, but I do not agree. People mean diff...
Eric Ollerenshaw | 537 c1024-5 (Link to this contribution) It is nice to speak at this point in the debate, when everybody has said everything. May I begin my...
Robin Walker | 537 c1021-4 (Link to this contribution) I join colleagues in congratulating my hon. Friends the Members for North Swindon (Justin Tomlinson)...
Andrew Bingham | 537 c1021 (Link to this contribution) I wouldn't go that far. Education moves to fit the world it provides for. I fully support today's m...
Lord Brennan of Canton | 537 c997-9 (Link to this contribution) May I first apologise to House as I may need to leave before the debate's conclusion, depending on h...
Nick Gibb | 537 c996 (Link to this contribution) We will examine them as part of the curriculum review, but our first priority is to establish what k...
Lord Brennan of Canton | 537 c996 (Link to this contribution) What have not been mentioned so far, but have been endorsed by the hon. Member for North Swindon (Ju...
Simon Hughes | 537 c996 (Link to this contribution) The Minister rightly concentrates mostly on primary and secondary schools, for which he is directly ...
Lord Brennan of Canton | 537 c995 (Link to this contribution) It is good advice from Polonius, but we must remember that he is widely regarded as an old hypocrite...
Nick Gibb | 537 c995 (Link to this contribution) It was good advice to his son.
Lord Brennan of Canton | 537 c995 (Link to this contribution) Perhaps Iago might be more appropriate."““Who steals my purse steals trash; 'tis something, nothing;...
Nick Gibb | 537 c995-6 (Link to this contribution) Very good indeed. The green-eyed monster is there as well. The hon. Gentleman also makes the case fo...
Nick Gibb | 537 c994 (Link to this contribution) The hon. Gentleman has said it for me."““Neither a borrower nor a lender be.””" Can he carry on?"““...
Lord Brennan of Canton | 537 c1001 (Link to this contribution) I have sympathy with the Minister over the difficulty created by having more and more subjects shove...
Julie Hilling | 537 c1000-1 (Link to this contribution) Does my hon. Friend agree that although we might want to teach many subjects as part of the curricul...
Lord Brennan of Canton | 537 c1000 (Link to this contribution) I will give way again in a moment if the hon. Gentleman is dead keen. All right; I will carry on. T...
Lord Brennan of Canton | 537 c1000 (Link to this contribution) I can see that the hon. Lady is itching to intervene.
Damian Hinds | 537 c1000 (Link to this contribution) The shadow Minister says that a transmission mechanism is required. Does he agree with me that if pr...
Lord Brennan of Canton | 537 c1000 (Link to this contribution) That is for 14 to 16-year-olds. If GCSE maths is taken between the ages of 14 and 16, young people w...
Elizabeth Truss | 537 c1000 (Link to this contribution) Is it not about leadership, as the reality is that many academies and, indeed, private schools follo...
Lord Brennan of Canton | 537 c1000 (Link to this contribution) I am sure the hon. Lady is right; she thinks deeply about these subjects and makes intelligent contr...
Andrew Percy | 537 c1003-4 (Link to this contribution) I am certainly not, as my hon. Friend interjects, the bard from Brigg. It is not going to happen, al...
Lord Brennan of Canton | 537 c1004 (Link to this contribution) Is the hon. Gentleman at all worried that he has put his name to a report that includes a recommenda...
Yasmin Qureshi | 537 c1001 (Link to this contribution) My hon. Friend touches on the matter of teaching. Does he agree that, as statistics from the Graduat...
Lord Brennan of Canton | 537 c1001 (Link to this contribution) We have heard about those worrying statistics in the course of our deliberations, but my hon. Friend...
Tessa Munt | 537 c1001-2 (Link to this contribution) Was it not also the case that Martin Lewis had a very robust session on the ““Politics Show”” about ...
Andrew Percy | 537 c1002 (Link to this contribution) It is a pleasure to speak in this important debate and I am pleased to see that so many Members have...
Andrew Percy | 537 c1003 (Link to this contribution) Alas, perhaps it is. I must say, however, that I will not be able to match the exchange of Shakespea...
Nick Gibb | 537 c994 (Link to this contribution) My hon. Friend makes an interesting point. Those are the kind of issues that the PSHE review will co...
Tessa Munt | 537 c994 (Link to this contribution) Might one solution be to ensure that young people, as they pass through the curriculum stages from p...
Nick Gibb | 537 c993 (Link to this contribution) The national curriculum applies only to maintained schools. The rules that apply to academies go thr...
Lord Brennan of Canton | 537 c993 (Link to this contribution) Just to be clear, does that include making those elements compulsory in free schools and academies?
Nick Gibb | 537 c993 (Link to this contribution) We made it very clear when we announced the review of PSHE education in schools that it is not possi...
Lord Brennan of Canton | 537 c993 (Link to this contribution) I understand why the Minister will not today give us the conclusions of the curriculum review that i...
Justin Tomlinson | 537 c980 (Link to this contribution) The right hon. Gentleman is absolutely spot on with that point and I am just about to come on to it....
Baroness Chapman of Darlington | 537 c980 (Link to this contribution) I feel obliged to intervene, given that my hon. Friend the Member for Walthamstow (Stella Creasy) is...
Justin Tomlinson | 537 c980 (Link to this contribution) I thank my hon. Friend for that intervention and I agree with him 100%. My speech and that of my hon...
Jim Dowd | 537 c980-1 (Link to this contribution) Before the hon. Gentleman moves away from payday loans, does he not agree that anybody who finds the...
Justin Tomlinson | 537 c980 (Link to this contribution) I thank the hon. Lady for that intervention and that is exactly the point. It is so complicated. In ...
Andrew Murrison | 537 c980 (Link to this contribution) I have a great deal of sympathy with my hon. Friend's motion and I congratulate him on tabling it. D...
Justin Tomlinson | 537 c981-2 (Link to this contribution) I thank my hon. Friend for raising that point. This is part of the problem. We want people to be equ...
Diana Johnson | 537 c983 (Link to this contribution) Has the hon. Gentleman had an opportunity to look at the evidence presented to the Education Bill Co...
Justin Tomlinson | 537 c981 (Link to this contribution) I thank the hon. Gentleman for his contribution. Let me be clear. Everyone has individual circumstan...
Claire O'Neill | 537 c981 (Link to this contribution) I commend my hon. Friend, who is a near neighbour, and all the MPs involved in this issue—this is th...
Andrew Smith | 537 c979 (Link to this contribution) I am very grateful to the hon. Gentleman for giving way and I congratulate him on tabling this motio...
Baroness Chapman of Darlington | 537 c991 (Link to this contribution) I do agree with that. There are plenty of examples of entrepreneurs who have done incredibly well wi...
Oliver Heald | 537 c991 (Link to this contribution) Does the hon. Lady agree that there is also an important issue about an entrepreneurial society? If ...
Baroness Chapman of Darlington | 537 c990-1 (Link to this contribution) I am very concerned about that. I am not only concerned about mathematics. My region has seen a drop...
Baroness Brown of Silvertown | 537 c990 (Link to this contribution) Given that I could not tempt my hon. Friend to have a rant on the economy, perhaps I can tempt her o...
Baroness Chapman of Darlington | 537 c989-90 (Link to this contribution) My hon. Friend makes a good point. She tempts me to break a promise that I made to myself when I cam...
Baroness Brown of Silvertown | 537 c989 (Link to this contribution) Has my hon. Friend noticed, as I have, even more people coming to her surgery with financial issues ...
Baroness Chapman of Darlington | 537 c990 (Link to this contribution) I agree with that to a point. I have A-level maths and I am very glad that I studied that. One does ...
Elizabeth Truss | 537 c990 (Link to this contribution) Does the hon. Lady agree that the current requirement of a grade C in mathematics to teach in primar...
Baroness Chapman of Darlington | 537 c990 (Link to this contribution) I agree completely. That goes back to the first point that I made about financial education being on...
Damian Hinds | 537 c990 (Link to this contribution) I appreciate the hon. Lady's point, but does she not agree that if we have a problem with children u...
Justin Tomlinson | 537 c987-8 (Link to this contribution) I thank hon. Members for their interventions; I shall try to give one response to the three of them....
Tessa Munt | 537 c987 (Link to this contribution) I accept absolutely the point about not teaching primary school children spread betting, but young c...
Baroness Chapman of Darlington | 537 c988-9 (Link to this contribution) It is a pleasure to speak in this debate. I congratulate the hon. Members for North Swindon (Justin ...
Justin Tomlinson | 537 c987 (Link to this contribution) I am sure that was not the thrust of the earlier intervention.
Speaker | 537 c987 (Link to this contribution) Order. One intervention at a time. Is the hon. Gentleman giving way?
Baroness Chapman of Darlington | 537 c987 (Link to this contribution) The hon. Member for Wells (Tessa Munt) mentions spread betting, but will the hon. Gentleman confirm ...
Justin Tomlinson | 537 c986 (Link to this contribution) I thank my hon. Friend for that, because it answers in part an earlier intervention.
Tessa Munt | 537 c986 (Link to this contribution) Does my hon. Friend not agree that such education is about understanding mathematical concepts in a ...
Justin Tomlinson | 537 c986 (Link to this contribution) I thank my hon. Friend for that contribution. We considered a stand-alone subject and, in our utopia...
Andrew Murrison | 537 c986 (Link to this contribution) Teachers will argue that there is huge pressure on the curriculum, and I have a lot of sympathy with...
Justin Tomlinson | 537 c986 (Link to this contribution) That is exactly the sort of question that, in setting out the mechanics of the recommendations, my h...
Lord Brennan of Canton | 537 c986 (Link to this contribution) The first key recommendation of the hon. Gentleman's committee is that personal finance education sh...
Justin Tomlinson | 537 c985-6 (Link to this contribution) I thank my right hon. Friend for that intervention and echo those comments. We have seen that respon...
Simon Hughes | 537 c985 (Link to this contribution) When I was going around the country earlier this year doing some work for the Government, I talked w...
Justin Tomlinson | 537 c985 (Link to this contribution) That came through in the evidence. If we go into primary schools and start talking about pensions, w...
Justin Tomlinson | 537 c985 (Link to this contribution) I thank my hon. Friend for her intervention. I could not agree more. That point is right behind our ...
Elizabeth Truss | 537 c984-5 (Link to this contribution) I congratulate my hon. Friend on securing the debate and on all the work he has done on this subject...
Oliver Heald | 537 c985 (Link to this contribution) May I say what a fantastic job my hon. Friend and the all-party parliamentary group are doing? Does ...
Justin Tomlinson | 537 c983-4 (Link to this contribution) I thank the shadow Minister for his intervention. We are trying to reach consensus on the very best ...
Lord Brennan of Canton | 537 c983 (Link to this contribution) I commend the hon. Gentleman on his work and on the report that he has produced. Does he not accept ...
Justin Tomlinson | 537 c984 (Link to this contribution) I thank my hon. Friend for that important intervention. A number of members of the all-party group, ...
Robert Buckland | 537 c984 (Link to this contribution) My hon. Friend is absolutely right to say that such lessons should be teacher-led. I had the pleasur...
Justin Tomlinson | 537 c983 (Link to this contribution) I thank the hon. Lady for that intervention. That was part of the evidence that we considered, but t...
Justin Tomlinson | 537 c983 (Link to this contribution) Absolutely. It was important to include that as part of the evidence, but as we are about to set out...
Andrew Percy | 537 c983 (Link to this contribution) We did indeed look at that issue but was it not the case that we were not convinced from the start a...
Nick Gibb | 537 c996-7 (Link to this contribution) My right hon. Friend has made a legitimate point, with which I agree. Our intention is to consult wi...
Justin Tomlinson | 537 c979 (Link to this contribution) I beg to move,"That this House notes that young people today grow up in an increasingly complex fina...
Eric Ollerenshaw | 537 c1025-6 (Link to this contribution) I think we need to deal with this in all kinds of ways. On the remarks we have heard about maths te...
Lord Brennan of Canton | 537 c1002 (Link to this contribution) I am not sure they are going to be a lot wealthier, quite frankly, but it is absolutely right that t...
Nick Gibb | 537 c992-3 (Link to this contribution) May I start by apologising for having been a couple of minutes late to the debate? It is a pleasure...
Subjects
Curriculum Credit Education Financial services Personal, social, health and economic education Young people Mathematics
Link
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