Financial lessons an education for Kidderminster school pupils - Financial lessons an education for Kidderminster school pupils -

Friday, May 25, 2012

Financial lessons an education for Kidderminster school pupils -

Financial lessons an education for Kidderminster school pupils -

Financial lessons an education for Kidderminster school pupils

WYRE FOREST’S MP found himself back at school as he joined students from King Charles I School in Kidderminster for a financial education lesson.

Conservative Mark Garnier, who has spoken to Prime Minister David Cameron about the benefits of making financial education compulsory in the school curriculum, saw how interactive white boards turned into working ATMs and giant cheques appeared as the school’s year 8 pupils learnt about the basics of banking, thanks to NatWest’s MoneySense for Schools programme.

Watched by the MP, teacher Chris Gibson, together with NatWest’s Kim Whitehouse, took the pupils through interactive exercises to help them understand more about what banks do, including how cheques and paying-in slips work and the practical tasks of balancing statements and using ATMs.

Ms Whitehouse, said: “Financial education for young people is more important today than it has ever been. It is essential that they start to understand about money management and bank accounts as soon as possible.”

Mr Garnier said: “Financial education is something that must be put on to the curriculum but until it is, it is incredibly important that financial organisations engage with schools to help ensure the next generation is financially literate.”

Chris Gibson, leader of King Charles I Lower School, said: “It was a pleasure having Mark with us and to show him how we are helping our students understand money.

“The students have really enjoyed and benefited from the activities. It’s very important that they gain basic money management skills and the NatWest MoneySense tools are an extremely practical and fun way of doing this.”


FlipC - The Mad Ranter says...
9:09am Fri 25 May 12

I'd have liked to have sat in on the part about "what banks do" should have been enlightening. Was there any notes on 'Why banks can charge you £20 to send you a letter' or 'Debt! Why banks love you to be in it'? FlipC - The Mad Ranter

Stephen Brown says...
10:28am Fri 25 May 12

Indeed FlipC, or charge £25 for an electronic payment such as an international one that actually costs 1pence. At the same time the financial institutions here oppose a very small (0.1% yes 0.1%!!) transaction tax (robin hood tax) targetted at high frequency traders (like hedge fund managers i.e. Mark and his mates), which would raise £8.4billion (UK estimate per year) and help us out of this current crisis and be offset against the worst of the cuts. No, instead our banker friends want to reap the benefits of globalisation that lets them push capital around the world, escape any consequences for their actions, make a mint then get bailed out when they get too greedy. Go tell that to the kids and that might just be the sort of education they would benefit from. Then devise a school curriculum that actually deals with proper financial mangement, looking after your money and avoiding those that would rob you blind. Stephen Brown

Hybrid does the business for Infiniti - this is plymouth

HYBRID electric vehicle sales are expected to grow by 50 per cent according to a business research and consulting firm. Frost & Sullivan say by 2017 the traction motor market will register sales in excess of 2.6 million in Europe.

This is fuelled in some part by company fleet managers who have strict aims to reduce costs through improved fuel consumption and lowering road tax costs by buying cars with lower CO2 emissions.

And that makes hybrid vehicles a huge attraction.

The latest Infiniti M35h, a luxury hybrid saloon, powered by a 3.5-litre V6 petrol engine and electric motor, qualifies for the higher rate of write down allowance (WDA), allowing companies to claim 18 per cent of the car's cost as capital expenditure per year.

Infiniti is the luxury arm of Nissan and the four door saloon is luxurious with comfortable full leather seats and a host of standard features including heated steering wheel and a rather complex air system which has automatic re-circulation, breeze mode, plasmacluster air purifier and grape polyphenol filter.

In 2011 Guinness World Records officially declared the M35h the fastest accelerating hybrid in the world, faster than a Porsche and BMW equivalent and reaching 62mph in just 5.5 seconds which is even more incredible because of its huge size.

But I still found it easy to park in a multi storey car park with very narrow spaces, helped by a host of sensors and a very clear rear view camera. With low running costs, the Infiniti M35h offers fleet buyers a car that is pure luxury with exhilarating power yet with practical advantages.

Cars with CO2 of more than 160 g/km can claim only ten per cent WDA per year. But at 159 g/km, the lower emissions figure drops the M35h one tax band for drivers, from 23 to 22 per cent for 2012/13, saving a 40 per cent taxpayer around £180 a year. Tax liability for company drivers is substantially lower than petrol saloons with similar performance.

When starting off from cold, I had to check the dials to see that the car was in operating mode as electric power is totally silent. It may have startled a few pedestrians too who tend to cross the road with their ears not their eyes.

As a sort of compromise to going all electric, which still holds some worries for drivers, the hybrid powered Infiniti M35h will be a big benefit to company balance sheets.

Sue Cooke

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