ACT will give students a stake in their financial education

“ACT will give every Year 11 student $500 to invest in a Sharesies-style account,” says ACT Leader David Seymour, launching a financial literacy policy previously teased in April. The policy will be included in the Party's election manifesto, to be released on Monday.

“Financial literacy should absolutely be part of the curriculum. In the modern world it’s extraordinary to think otherwise. But the real challenge is getting children motivated to learn.

“ACT’s policy, already fully costed in our fiscal plan, literally gets young people invested. Instead of just learning about investment in a textbook, students will have real skin in the game.

“Students will start with a term deposit, then graduate to managed funds, New Zealand shares, and international investments as they demonstrate their understanding of risk and reward.

“Too many young New Zealanders leave school without understanding how wealth is created, how businesses grow, or how they can put their savings to work.

“This policy will help unlock the potential of generations of young New Zealanders, introducing them to saving, investing, and taking responsibility for their financial futures.

“Combined with ACT’s policy to remove tax on KiwiSaver, it will help set Kiwis up for life by making it easier to build wealth and secure their financial future.

“Meanwhile, Nicole McKee’s AML reforms have already simplified the process of opening a child’s bank account and further improvements are in a bill that she has already introduced to parliament.

“Young New Zealanders will see themselves not just as workers and consumers, but as investors and owners with a stake in our country’s success.”