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Money Advice Service to produce education code

The Money Advice Service believes the impact of industry-funded financial education programmes can be enhanced by the adoption of a voluntary code of practice.

The code is set to promote an agreed framework for the delivery and measurement of financial behavioural change and should “enhance” existing schemes which quality-mark teaching materials.

It is expected that the code will be completed in 2013.

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Gerard Lemos, chairman of the Money Advice Service, said: “Developing financial capability for young people is an important part of our work and many excellent industry-funded programmes have been supporting the same objective for years.

“Now we have a clearer understanding of how home and school environments influence financial capability we can begin to develop targets and standards that deliver long-term behaviour change.

“We look forward to working with the industry and other organisations in drawing up a voluntary code to create a more joined-up, comprehensive and impactful approach.”