Children’s Wellbeing and Schools Bill

Debate between Baroness Sater and Lord Addington

Wednesday 10th September 2025 Lords Chamber

[Baroness Sater (Con)]

My Lords, I will speak to Amendment 502D, which stands in my name. I thank my noble friend Lord Farmer for his support. This amendment seeks to make financial education a mandatory part of the primary school curriculum from year 1. Why do we need it? Its aims are simple but important: to ensure that children begin to develop the knowledge and skills needed to understand and manage money from an early age.

In a world of increasing financial complexity, where our children encounter such things as targeted advertising, digital payments and online scams, often before they have even reached secondary school, it is more important than ever that financial literacy should not be left to chance. While financial education is a statutory part of the secondary school curriculum in England, it is not a requirement in primary schools. This creates a gap at precisely the stage when children begin forming lifelong money habits, and it stands in stark contrast to the rest of the United Kingdom, where such education is embedded in the national curriculum at an earlier age than in England.

The Money and Pensions Service has found that these habits develop as early as age seven, yet we wait until secondary school to introduce compulsory learning. Without embedding financial education from year 1, we risk missing the most formative opportunity to equip our children with the tools that they need to manage money with confidence and make good financial decisions throughout their lives.

According to a research report from Santander UK, at the beginning of this year, out of 2,000 pupils aged 18 to 21, only 26% reported receiving any financial education at school. Without a fundamental understanding of money management, our young people are increasingly turning to online sources for financial guidance and information, especially social media—that comes with its own risks—as they step into an age of financial independence. This cannot be right.

RedSTART Educate, a charity for primary school children that delivers financial education through progressive learning, which has now merged with Money Ready, is a long-standing campaigner for financial education to become statutory in the primary curriculum in England. It tells us that levels of financial literacy in the UK are low and falling, and highlights how awareness of debt, saving and investments needs to begin in primary schools. It is hard to believe, yet the data show, that from their programmes in primary schools 90% of children say that they now understand how budgeting can help them achieve goals and 80% of children can explain the difference between lending and giving. This is surely sufficiently compelling for financial literacy to be taught in primary schools; importantly, it will assist in dealing with the significant inequalities that exist across the country.

However, as the Social Market Foundation highlights, for financial education to make a difference, it is important to start young. Socioeconomic inequalities in financial understanding can be seen at the age of 11. According to Young Enterprise, which has called for financial education to be a core subject in primary school, only one in three primary-aged children receives any financial education, and where it is taught the provision is patchy. In other words, it is a postcode lottery.

This amendment is about establishing consistency and equity, and recognising that financial education should not depend on where a child lives or which school they attend. The Centre for Social Justice, a think tank, has called on the Government, as a minimum, to place financial education on the national curriculum for primary schools within PSHE, and the APPG on Financial Education for Young People, of which I am a vice-chair, has recommended that it be embedded in the primary school curriculum.

We also cannot ignore the link between financial literacy and mental well-being. According to the Mental Health Foundation, money worries are the single biggest cause of stress and anxiety in the UK. The earlier we can equip children with the tools to understand and manage money, the better their long-term financial resilience and emotional health will be. I acknowledge that the national curriculum is under considerable pressure, but financial education cannot be seen as an optional extra. It is a vital life skill, essential for preparing our children to live fulfilling and stable lives in an increasingly complex financial world. That is why I believe this amendment would be a valuable addition to the Bill.

[Lord Addington (LD)]

My Lords, I draw the Committee’s attention to Amendment 441, which is tabled in my name. It is not the most elegant amendment that I have ever tabled, but it is designed to get the Government to set out their thinking on supporting those with special educational needs through the use of assistive technology.

I have a couple of obvious interests. The one I should declare is that I am chairman of Microlink PC, which makes adaptive technology for the workplace and education. More importantly—I show off how bad a dyslexic I am—I cannot function or deliver a letter without using it. Let us take English and somebody who is dyslexic. If you are bad enough, you will not achieve in English without having someone to dictate to unless you use assistive technology. You will fail at learning a language using the modern processes because the language-processing parts of your brain and your short-term memory do not work that way. You may have a choice of failing dramatically or just simply failing, but you are not going to achieve. Using assistive technology means that you can access that part of the curriculum, get through and possibly hand in work without having somebody else there. You have your independence.

I was trying to get the Government to set out their attitude towards this, which is a great way of addressing some of the problems of special educational needs. Get in early and get them away; they can maintain themselves and will be adaptive. If we could know about this in this part of the Bill, it would help us in the future. I hope that the Government are friendly to it.

There are all sorts of things attached to this. For instance, there are great things about not having mobile phones in school, but they are a very good platform on which to carry some of this technology. This may not be the only way forward—there may be other ways—but getting some idea of the Government’s thinking on this would probably help the forthcoming debates. It may not be a silver bullet, but it is certainly something that can help. I would be very grateful to hear what the Government’s attitude is.