The Lord Mayor's Financial Literacy Campaign

The Lord Mayor of London, Ian Luder, a Chartered Tax Advisor said "It is important that we try and help people understand their finances in the widest possible sense and very often break the cycle of deprivation that carries on from one generation to another." The City Corporation has agreed funding to help the 108 City Livery Companies participate in financial literacy programmes in schools, tapping into the reserve among the 41,000 members and enhancing the role of the Livery Schools Link.

The purpose of the Lord Mayor's financial literacy initiative 2008-2009 is to stimulate volunteering in financial literacy and enterprise by members of Livery Companies in schools in London(and around the country) by promoting financial literacy through the Lord Mayor's speeches AND raising the profile by providing volunteers for sessions in schools run through the local EBPs (Education Business Partnerships ) and possibly a London based programme for NEETS ( young people not in employment, education or training).

Hannah Yang-Lehman is a part-time co-ordinator based at the Mercers Company to deal the Lord Mayor's Financial Literacy Initiative 2008-2009. Hannah has approached 2 of the 33 London Boroughs - Tower Hamlets and Hackney to start the scheme off.

Tower Hamlets are running pilot projects with 1 Junior school using 1 day each term of named volunteers (3 days pa) to talk about "The Workplace" and 1 Secondary school with the same type of volunteers but at a higher level.

Hackney are running a "workweek" for years 1-6 involving 22 schools at both primary and secondary levels and 15-20 volunteers who are giving time ranging from 1 hour (to give a talk) or half a day (to take part as a Dragons Den style panel to evaluate project submissions). The week comprises different "activity" days and might include outings to a workplace.

It has been suggested that once the scheme progresses the Company might be able to co-ordinate or offer short work experience or even a planned series of trips with for the more senior students to encompass a Private Bank, a Stockbrokers Dealing Room, an Insolvency Practitioner and a visit to the Bankruptcy BERR Official Receiver. It might be possible to add the Bank of England or a good litigation lawyer on economic crime or a visit to the SFO or FSA. These things are for the future as the scheme develops but the Junior Warden would be most interested to receive offers of help and suggestions.

The strength of our Company comes from the diversity of our members and the Junior Warden reminds us all that the beauty of volunteering time is that it doesn't cost much and it bewitches future generations!! Do you have any ideas of names you might suggest as the Company’s volunteers – at the time of going to press we already have put one name forward to Hannah. Can you help?

Kay Linnell
Junior Warden