Education Sector: Equality of Opportunity

Lord Howell of Guildford Excerpts

Thursday 17th October 2024 Lords Chamber

[Baroness Smith of Malvern (Lab)]

The noble Baroness will understand that in FE there is no pay review body in the same way as in schools. The Government were pleased to be able to fund the 5.5% pay increase for schoolteachers. The noble Baroness is right that, although we recognise the enormous contribution of FE staff, we were not able to match the pay for FE teachers on that occasion. This week, we have for the first time extended the retention incentive to teachers in the first years of their careers in FE. Applications for that opened on Monday, and lots of FE teachers have already applied for that. In our discussions on the spending review, we are thinking about and arguing hard for the support that further education needs and deserves, as the noble Baroness rightly said.

[Lord Howell of Guildford (Con)]

Could this mission to promote equal opportunity in schools include much greater encouragement of teaching financial literacy in schools, in line with several ideas put forward by Members of your Lordships’ House?

[Baroness Smith of Malvern (Lab)]

Having spent 11 years teaching economics and business studies— I am not sure my personal financial literacy quite matches up to what might have been expected from that—I think the noble Lord makes an important point. A whole range of schemes and important initiatives already help in that area, and I am sure that teachers and schools would be keen to support others, as well as what they are able to deliver in the curriculum.