My question is addressed to the Minister for Revenue and Assistant Treasurer. Would the minister update the House on the government’s plan to help young people equip themselves with better personal financial management skills.

I thank the Chief Government Whip for such a wonderful question. Financial literacy is a very important issue to young people in this country.

Those opposite might laugh, but last year this federal government made an announcement committing $21 million to help children in years 3, 5, 7 and 9 to understand money, the use of money and the peer group pressure that is put on young children in relation to the purchase of mobile phones, the use of text messages and all those things that have the potential to create debt for young people. They cause enormous pressures not just on children but also on parents and families. This government is keen to work with the states to talk through, educate and make children understand the value of money and the acceptance of personal responsibility.

This government remains very committed to this program. We are very serious about it. Those opposite might jibe and laugh about it, but this is a serious attempt to help young children who are in very difficult circumstances, some of whom they portray themselves as representing. This is a program that we will continue to roll out to help young people around the country in order to provide them with a better future.

Mr Speaker, I ask that further questions be placed on the Notice Paper.