The FT itself has, of course, always been a medium of financial education, albeit at an elevated level. The rationale for FLIC was to create a foundational platform of financial understanding for everyone. The task began with young people. Becky Francis, chair of the independent review that paved the way for the government’s announcement, said youngsters were hungry for more financial knowledge — due to an awareness of rising living costs and ever easier access to financial products on phones. Financial literacy was the “one topic that was consistently raised by every single focus group”, she said, and “the most highlighted area of importance by parents”.