On Tuesday 15th November, I was delighted to welcome into Parliament representatives and supporters of the FairLife charity for the launch of the FairLife Mark. The FairLife Mark is a fair trading mark for financial products, services, commitments, education and guidance.
A number of FairLife Ambassadors attended, ranging from senior figures in financial industries to university administrators, teachers and school children.
Britain is facing a generation of hard-working people struggling to save and struggling to retire. Change is needed now to prevent the current crisis from getting any worse. We need to improve standards in the financial industry and to ensure that everyone in Britain benefits.
That’s where FairLife comes in. The FairLife Foundation is designed to benefit everyone in the UK by improving everyday financial products and educating the public in the responsible management of their financial affairs.
The charity will improve the countries’ financial industry by awarding its trademark logo, The FairLife Mark, to organisations which voluntarily offer a defined benefit to the public above that required by law. The FairLife Mark is a fair trading initiative, which encourages powerful financial institutions to trade more fairly with the British public. Members of the public will know which financial products and organisations can be trusted to trade fairly by looking for the Fairlife Mark.
FairLife also aims to improve financial education at all levels, from primary school through to university. The FairLife Mark will highlight independent providers of financial education. The mark is for providers who share our passion for helping children learn about money. Evidence suggests that children’s long-term attitudes to personal finance can be formed early in life, so the sooner we can get children thinking about money the better.
I am excited by the prospect of a fairer financial industry which FairLife heralds, and I am proud to be a Fairlife Ambassador and Trustee. I have no doubt that FairLife will have a positive transformative effect on the financial system.
For more information on the FairLife charity, what it aims to achieve and how you can get involved, please visit our website at http://www.fairlife.org.uk/.