IFS SCHOOL OF FINANCE

That this House notes with concern that the total debt of British families is larger than the UK's gross domestic product and that 79 per cent. of consumers do not know what an APR is; further notes that little real progress has been achieved to address this problem; believes that financial capability is an essential life skill along with numeracy, literacy and IT; recognises the outstanding work of the IFS School of Finance as the only provider of GCSE, AS and A-level equivalent qualifications in personal finance; and calls on the Government to build on that experience by encouraging all schools and colleges to offer stand-alone qualifications in personal finance and by training more teachers to teach such programmes.