ACCA’s chief executive Allen Blewitt has backed proposals to add lessons on money and debt to the school curriculum in a bid to improve finance skills among British students.

In a letter to The Times Blewitt says a focus on money and debt in schools is ‘much needed’.

He adds that the ACCA believes that school pupils should go through classes on tax, savings, debt and pensions to ‘prepare them for adult life’. He writes that he believes it might alleviate ‘longer-term’ problems as children move into adulthood.

Schools minister Ed Balls revealed this week that he intends to include debt and finance on the curriculum.