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The Investing and Saving Alliance has called on Fair4All Finance to ringfence funds for high-impact financial education for children and young people.
In its response to Fair4All Finance’s consultation on building financial capability, Tisa warned that leaving children and young people out of the funding round would be a “missed once-in-a-lifetime opportunity” to tackle financial vulnerability at source.
Therefore, ahead of financial education entering the curriculum in 2028, Tisa has called for Fair4Finance to provide at least £5mn a year for five years from the financial capability tranche of the dormant asset scheme.
Tisa head of policy, Sophie Legrand-Green, said: “Dormant assets give us a rare chance to transform the financial prospects of a generation, but only if children and young people are at the centre of this funding round.
“Putting financial education on the school curriculum from 2028 is hugely welcome, yet many of the vital charities and programmes we rely on may not survive the next few years.
“A modest £5mn a year could sustain frontline providers, equip teachers and scale proven initiatives so young people start building money skills well before the new lessons begin.
“If we invest now, we can prevent financial problems later instead of managing the fallout for decades.”
Tisa’s response stressed that targeted, time-limited dormant assets funding should complement, not duplicate, government activity by preparing schools, teachers and delivery partners for 2028 and beyond.
At the same time, Tisa suggested that resources would support vulnerable young people in the community, including those not in education, employment, or training.
The response also recommended dormant assets can be used to support the creation of a volunteering hub, a national money award, and a financial education academy.
tom.dunstan@ft.com
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