Clegg: Educate the young to tackle UK`s debt problem

Speaking at a recent Youth Parliament event in London, Liberal Democrat leader Nick Clegg said that young people must be taught about finances in order to tackle the UK`s "debt addiction".

He said that unless the country acts now to tackle the problem, the next generation will have a legacy of money troubles to contend with.

Among his party`s plans regarding the reining in of personal debt is one involving the BBC under which the broadcasting corporation would launch a campaign of public education through all its media channels.

In addition, a network of free financial advice centres would be established and funded by the government and banks.

Mr Clegg, who was elected as leader of the Liberal Democrats on December 18th last year, said: "One of the reasons why the economy`s in such a state at the moment is because of all this debt. It is our young who will inherit this legacy of debt.

"We`ve been addicted to debt and now we`re having to go cold turkey."