A group set up by the Financial Regulator has recommended that banks which have been re-capitalised by the Government should help set up a fund to develop financial education for consumers.
The National Steering Group on Financial Education today published a report on personal finance education called 'Improving Financial Capability in Ireland'.
The group has developed a 'financial competency framework', which is a list of the elements that contribute to making someone financially capable. It recommends that elements of this should be part of the compulsory national school curriculum.
It recommends the establishment of a Financial Capability Fund, with initial funding from the recapitalised banks. The report also recommends a national standard for personal finance education.
