TEACH OUR KIDS TO HANDLE THEIR MONEY - LIBERAL DEMOCRAT PLAN GAINS COUNCIL APPROVAL (Cheltenham Liberal Democrats)

Cheltenham Liberal Democrats <info@cheltlibdems.org.uk>

TEACH OUR KIDS TO HANDLE THEIR MONEY - LIBERAL DEMOCRAT PLAN GAINS COUNCIL APPROVAL

October 8, 2007 12:41 PM

A Liberal Democrat scheme to improve the financial training of young people has received a boost at a meeting of Gloucestershire County Council.

Liberal Democrats made proposals to research the need and provision of financial training among Gloucestershire's young people, and on Friday the proposals commanded Tory and Labour support.

Cllr Charmian Sheppard, Liberal Democrat spokesperson for Children and Young People who proposed the motion, said:

"I'm delighted that Labour and Conservative councillors supported our proposals today. There is a general feeling in Government and among schools that something has to be done to improve the financial literacy of young people. We now live in a society where debt is common and very often necessary, but our young people are seldom taught how to handle it and there are no plans for compulsory financial training in the National Curriculum. We want to see Gloucestershire pioneer solid provision of financial literacy training so we can give our young people the best possible chance for the brightest possible future."

The proposals will see Cllr Sheppard and other councillors work closely with the Cabinet to audit the current provision of financial literacy training in Gloucestershire as well as the available resources to enhance and improve it. In the near future the Council will implement a plan to improve the financial skills of Gloucestershire's young people.

The Liberal Democrat campaign followed an appeal from the Gloucester Citizens' Advice Bureau (CAB) for support in a project they have set up to tackle financial ignorance among young people. Last financial year 900 young people came to the CAB with debt problems in Gloucester alone.

Cllr Bill Crowther, Liberal Democrat spokesperson for Economic Development who seconded the motion, said:

"Some of the young people who came to our colleagues at the Gloucester Citizens' Advice Bureau had very severe debts and no way of repaying them. Some were financially very vulnerable, such as young people with disabilities and young single mothers. Our proposals concern these disadvantaged and often neglected people too. We will be strongly urging the Council to provide the financial assistance required to fund the Citizens' Advice Bureau's scheme."