AS daunting a prospect public speaking can be, it carries a particular edge for a teenager faced with presenting to someone named alongside Beyoncé and Barack Obama as one of the world’s most influential people.

Pupils from Hummersknott Academy in Darlington rose to that challenge when the Bank of England’s chief economist Andy Haldane paid them a visit.

The year ten pupils presented their ideas for a financial services app, designed to be of use by people they know, after taking part in a four month enterprise project delivered by Nationwide Building Society and Foundation for Jobs, a Darlington based project linking businesses and schools.

And listening in was Mr Haldane, named by Time Magazine in 2014 as among the top 100 most influential people in the world alongside the aforementioned pop star and US President.

North-East born Mr Haldane said: “There was an energy of purpose there from the young people speaking, who presented such good work.”

Alongside listening to the presentations, Mr Haldane met students from the academy’s year 11 and BTEC Business Studies classes to answer their questions about the economy.

It comes as the Bank of England launches its new EconoME project that will see it attempting to develop financial literacy, or understanding of economic matters, in scores of UK schools this year.

As well as schools being able to request a speaker from the Bank, EconoME provides classroom resources which include interactive activities, videos and case studies. The programme uses real-world examples and best-practice strategies from experts at the Bank of England and explores the steps required to make an informed choice .

Mr Haldane said: “We have a big push starting this year to get into at least 200 schools across the UK and we have combined that with providing schools with materials that can be used to explain why the economy matters to young people and just as importantly what young people mean to the economy.

“We are trying to make economics and finance something that doesn’t feel remote and distant but part of the practicality of making those everyday decisions. The schools model we have developed is part of doing just that.”

Improving financial literacy is a passion of Mr Haldane, who is also a trustee of the independent charity National Numeracy, which promotes the importance of numeracy and everyday use of maths.

It is particularly important given that an OECD survey in 2016 on adult financial literacy competencies found that of the 30 countries and economies taking part, including 17 OECD countries, the United Kingdom scored significantly below average on overall levels of financial literacy, lagging behind countries such as France, Canada and New Zealand.

Mr Haldane, who co-founded the charity Pro-Bono Economics to persuade economists to donate their time and expertise to help charities, was able to see the irony that the UK is a leading global financial centre and yet lags behind other countries on those key skills.

He said: “When I travel around the UK there are all sorts of initiatives being introduced to improve financial literacy. These initiatives are presently not joined up or sporadic in their coverage. It is a bit patchy right now and I think public institutions like the Bank of England play a crucial role in reducing that and taking us as a nation to near the top of the OECD table.”

WITH this in mind, the importance of school visits from leading figures such as Mr Haldane cannot be underestimated with research demonstrating that young people who have contact with industry while at school are up to five times less likely to be unemployed at the age of 25.

“Improved understanding and greater educational outreach makes for better decisions by the public and makes for a more stable economy and financial system,” Mr Haldane added.

This view was backed by the other influencers in the Darlington project. Darlington councillor Chris McEwan, chairman of Foundation for Jobs, said: “This is a fantastic example of how young people can benefit from industry expertise and where better to start than at the top level of the Bank of England.”

James Cartwright, Darlington branch manager at Nationwide Building Society, added: “We believe that enterprise and financial awareness should be encouraged from an early age.”

Improving financial acumen was not just important for individuals and society as a whole but the stability of the whole economy, Mr Haldane believed. “A young person born today can be expected to live a 100-year life. That being the case, it is likely they will have a career of 60, perhaps 70, years during which time they may be changing job and career three or four times. I think understanding of the economy and finance is absolutely essential for the everyday decisions they will make about jobs, how much to save, how much to borrow,” he said.

He also encouraged the Hummersknott pupils to have high expectations and aspirations for themselves. “I am a great believer that given the right opportunities and a degree of personal investment people can surprise themselves with what they can achieve,” he said.