Alliance urges GBP £25m for youth financial education from assets

The Investing and Saving Alliance has urged Fair4All Finance to allocate at least GBP £25 million from the dormant assets scheme over five years to support financial education initiatives aimed at children and young people.

Funding proposal

The Alliance has proposed that a minimum of GBP £5 million each year should be dedicated from the financial capability tranche of the dormant assets scheme. The intention is to fund programmes that equip children and young people with essential money management skills.

The submission highlights concerns that omitting children and young people from the scheme would bypass a pivotal opportunity to address financial vulnerability at an early stage. The context is the upcoming introduction of financial education into the school curriculum from 2028.

Programmeme sustainability

Sophie Legrand-Green, Head of Policy at the Investing and Saving Alliance, pointed to the importance of immediate funding for existing programmes and charities.

"Dormant assets give us a rare chance to transform the financial prospects of a generation, but only if children and young people are at the centre of this funding round. Putting financial education on the school curriculum from 2028 is hugely welcome, yet many of the vital charities and programmes we rely on may not survive the next few years. A modest £5m a year could sustain frontline providers, equip teachers and scale proven initiatives so young people start building money skills well before the new lessons begin. If we invest now, we can prevent financial problems later instead of managing the fallout for decades," said Legrand-Green.

Support for communities

The Alliance's response emphasises that funding should support not only in-school initiatives but also reach young people who are not in education, employment or training. The goal is to equip a broader cross-section of young people with skills to navigate personal finances, improving their financial resilience.

Proposed initiatives

The Investing and Saving Alliance suggests that dormant assets could also be used to establish a Volunteering Hub to link individuals and organisations with financial education opportunities. Another proposal includes the creation of a National Money Award, to offer youth-led and interactive financial training for people aged nine to thirty.

Additionally, the submission calls for a Financial Education Academy, which would operate as a central resource for quality-assured tools and professional training for teachers and practitioners delivering financial education.

Sector alignment

The response notes that this targeted funding should work alongside, rather than duplicate, existing and future government activity. The proposed approach is designed to prepare schools and delivery partners for the curriculum change expected in 2028 and to support ongoing community needs.