Dai Havard

Labour Party | Merthyr Tydfil & Rhymney

‘Money and Christmas’

Anyone between the ages of 14 and 18 can win £500 by entering the ‘Young Business Writer of the Year 2008’ competition. By writing a thousand words on the subject “Saving for the future, one size fits all?” they can express their experiences and ideas on how to help us all to know how best stay out of the debt trap and invest for the future. I have written to our schools and colleges asking them to get our young people thinking and writing about issues that are vital to us all. Last year we saw the damage from the ‘Farepack’ scandal, reminding us that how to spend wisely as well as save wisely is a matter for us all, especially at this time of year. One good thing that came from the ‘Farepack’ scandal was a greater understanding of the growing benefits of Credit Unions. As a member of the Merthyr Credit Union I am pleased to see that the Labour Party Assembly Group plan to have a Credit Union in every secondary school being given £1.25m to make it work and that modules on improving financial literacy are to come into the school curriculum. Our young people have interesting stories to tell about their hopes and efforts to grapple with the increasingly complex financial world that confronts them. They will need to save in many ways and in Parliament we are just about to make changes to the law Pensions that will affect them all. They will see younger children receiving money from our Labour government in Westminster to set up Child Trust Funds, and I hope all parents who have not yet done so will be encouraged to make best use of that money. Christ was born on a journey his mother was taking to pay taxes and set right their financial affairs, and the growing commercialisation of that celebration makes it timely. As we thank and remember all who serve us well throughout the year, I hope your wishes for the New Year serve you well. Seasons Greetings - Cyfarchion y Tymor - to you all.