Credit information provider Equifax reports that 94% of parents want financial education in schools as new Group campaigns for better financial awareness.

London, 31st January 2011 – Leading instant online credit information provider, Equifax , is supporting the launch of a new Group to campaign on better financial education and awareness. The All Party Parliamentary Group is being launched in Westminster today, as a joint initiative by pfeg, (Personal Finance Education Group), the UK’s leading finance education organisation, Justin Tomlinson, MP and Martin Lewis, founder of MoneySavingExpert. In the wake of the economic crisis, Equifax believes that it is more important than ever that future generations are taught financial skills. This belief is reinforced by the findings of recent research* conducted by Equifax amongst parents, where 35% said they don’t think their children have a good understanding of the value of money and 94% believe financial education should be part of the national curriculum. “Young people now live in a world where debt is a fact of life”, says Neil Munroe, External Affairs Director for Equifax. “This makes it absolutely imperative that, as early as possible, young people understand how best to manage their finances. We are, therefore, really pleased to be supporting this new All Party Parliamentary Group on Financial Education, which has a clear goal to get the message about financial awareness into the school curriculum in a way that is practical and relevant to children.” More than a third of parents who responded to the recent Equifax research on finances amongst young people, believe that their children have a good understanding of the value of money. But almost the same number think this is not the case. When it comes to children’s understanding of money management, 73% of parents said they felt their own parents’ attitude to money and finances had influenced how they now manage their finances. “Clearly the right attitude about money management starts at home” continued Neil Munroe. “But we believe the school curriculum can play a very important role in preparing young people for the challenges of the 21st century. And that includes being in control of their finances and managing debts more effectively than the generation before them.” "We are extremely pleased that Equifax is supporting the launch of the All Party Parliamentary Group on Financial Education for Young People” said Wendy van den Hende, Chief Executive, pfeg. “Equifax clearly understands that if we want the next generation to be financially capable we need financial education at every stage of their school life. It is both exciting and gratifying to have so many high profile organisations such as Equifax supporting the group and we believe their involvement will truly help raise the profile of this important issue." *Equifax researched 865 customers of its Personal Solutions services in April 2010.