/24-7PressRelease/ - WATFORD, UK, October 02, 2006 - Ifs School of Finance, has urged Government a greater role in addressing the personal debts of Britons. The institution believes that a few hours of financial tutoring is not enough on the part of the government.
London (online-unsecured-loans) September 28, 2006: According to ifs School of Finance, the Government needs to play a greater role to address the personal debts of Britons. In addition, the financial education group believes that a few hours of personal finance lectures will not be enough to educate the nation about finances.
A report released by Datamonitor this week suggests that the UK consumer credit market crossed 214 billion last year making it the most indebted country in Western Europe. An average Briton owes 3,000 in secured and unsecured loans, which is double than that of people in other nations.
Anne Kiem, head of external affairs in ifs School of Finance, said: "Clearly spending less than four hours a year studying personal finance is not going to improve the financial capability of future generations and will in turn do nothing to address soaring levels of over-indebtedness in the UK."
She further added that financial education, which would include information on savings, loans and money-management, should be taught in schools.
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