7th July 2008

School children will be taught about money in an attempt to halt the spread of financial incompetence, the Government will say today.

The £11.5million three-year My Money programme will show pupils how to draw up a budget, such as buying furniture for a new home without spending over a certain amount of money.

The scheme is part of a wider initiative from the Treasury and the Financial Services Authority, called the Financial Capability Action Plan.