Oral Answers to Questions

Fiona Bruce Excerpts

Monday 18th November 2013 Commons Chamber

[Esther McVey]

My hon. Friend is right. The figures suggest that out-of-work welfare dependency has been reduced by nearly 10%, which of course is very encouraging. Furthermore, in the past 12 months, the change in the number of JSA claimants has saved £1 billion.

[Fiona Bruce (Congleton) (Con)]

23. What recent steps his Department has taken to support care leavers.

[The Secretary of State for Work and Pensions (Mr Iain Duncan Smith)]

I congratulate my hon. Friend’s work on the all-party group on financial education for young people. Last month, we launched the cross-departmental care leavers strategy, brokered through the Cabinet Committee on Social Justice, to ensure that for the first time pooled resources from education, employment, health, housing and justice will be tailored to the challenge facing a group of young people for too long left to struggle alone.

[Fiona Bruce]

Does the Secretary of State agree that equipping young people in general and care leavers in particular to manage their own finances well is a vital tool? What are the Government doing to address this matter, as recommended by the report of the all-party group on financial education for young people?

[Mr Duncan Smith]

Again, I congratulate my hon. Friend, because we will definitely be considering this next recommendation of hers. I have listened and read her suggestions, and we have actually managed to alter the new curriculum. The final version will now state that

“the functions and uses of money, the importance and practice of budgeting, and managing risk…income and expenditure, credit and debt, insurance, savings and pensions, financial products and services”

will be taught as part of the curriculum for the first time.