FTA: What is the ideal benchmark of knowledge a school leaver should have?
HT: I believe that at school leaver age, students should have a basic understanding of what interest rates are; the impact of cumulative interest; a basic knowledge of how to budget; different types of bank accounts, Isas and pensions; and have a basic understanding of taxation.
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This would give people a solid base to build on their understanding as they get older, choose to become auto-enrolled, buy a house, invest themselves.
calum.kapoor@ft.com
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