National Numeracy is disappointed that the Financial Inclusion Commission report Financial Inclusion - improving the health of the nation pays scant regard to the vital part that numeracy skills play in the ability to manage money and make best use of financial services.
While we agree that creating a financially inclusive UK will require changes across the financial sector and government, and that financial capability involves a complex range of factors, we believe it is indisputable that good numeracy, or everyday maths skills, underpin money sense.
We know that too many people struggle with numeracy; almost half of UK adults have primary school-level maths skills, according to government figures. If you don’t understand the basic maths - for example, the concept of percentages - you are going to struggle to make good decisions about money.
This seems blatantly obvious to us, but it receives little attention in the Financial Inclusion Commission report.