1. Wales

Calls for payday loans law

Assembly Member Bethan Jenkins is hoping to win support in the Senedd for a new law to improve financial education amongst those likely to take out high-interest loans

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Money expert backs Assembly bill

The well-known expert in personal finance, Martin Lewis has backed Bethan Jenkins' Financial Education Bill. He said:

I've been campaigning for years to ensure we educate our children to live in this competitive consumer economy - so it's great news that there's now a Bill being planned that looks to build upon compulsory financial education already offered in Wales. We need to ensure our children are equipped both to deal with dangers like payday loans, temptations like impulse spending, and planning a stable future for mortgages and, yes even one day, pensions.

Wales was already one step ahead of England in introducing compulsory financial education. However, this Bill demonstrates that policy makers in Wales are not prepared to sit on their laurels and want to push it another step forward. Music to my ears.

– Martin Lewis, MoneySavingExpert.com

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