A BISHOP has welcomed plans to get children as young as four to join savings clubs in an attempt to prevent them getting into debt later in life.

The Church of England wants a network of clubs in primary schools, run by credit unions.

The Archbishop of Canterbury, the Right Reverend Justin Welby, formerly the Bishop of Durham, said he strongly supported the programme to encourage positive attitudes towards money and the habit of saving.

The Church wants to pilot the project in three areas of England and the North-East is on a shortlist of six to make the cut.

The Bishop of Durham, the Right Reverend Paul Butler, said: “This is good news.

“The announcement from the Archbishop’s task group on responsible credit and saving to provide support and resourcing for this kind of work in schools is to be encouraged as much as possible.”