Introduce some mandatory focus on basic world-applicable financial skills including but not limited to: long-term investment, pension planning, risks of debt and borrowing, budgeting and taxation. We do not believe teenagers are being aptly prepared for financial independence.

We think the majority of 17/18 year olds coming out of the school system feel overwhelmed by the imminence of independent life. A major contributor to this feeling could be a lack of financial literacy. We are concerned that there is widespread inability to properly manage personal finances, resulting in a lack of monetary growth, often paired with overpaying for financial services. 1 in 6 UK adults have no personal savings, and only 23% hold any stock market investments. Financial education needs to improve in the school system.