Question to the Foreign, Commonwealth & Development Office:

To ask His Majesty's Government whether their reduction of funding for international aid will affect the funding given to the BBC.

Answered by Baroness Chapman of Darlington - Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)

HM Government highly values the BBC World Service. That is why HM Government is providing the BBC World Service with a funding uplift of £32.6 million (31 per cent) in 2025/26, taking HM Government's total contribution to £137 million.

The Prime Minister announced on 25 February a commitment to increase spending on defence to 2.5 per cent of Gross Domestic Product (GDP) from April 2027, funded by reducing Official Development Assistance (ODA) from 0.5 per cent to 0.3 per cent of Gross National Income (GNI). Delivering this reduction will require hard choices. Detailed decisions on how the ODA budget will be used, including for the BBC World Service, will be worked through, including as part of the ongoing Spending Review.

Question to the Department for Education:

To ask His Majesty's Government what assessment they have made of the suggestion that money habits are set by the age of seven.

Answered by Baroness Smith of Malvern - Minister of State (Minister for Women and Equalities)

The Money and Pensions Service (MaPS) is an arm’s length body of the Department for Work and Pensions and has a statutory duty to coordinate the UK strategy for financial wellbeing. This strategy includes a goal to ensure that two million more children and young people in the UK are receiving a meaningful financial education by 2030. To support the provision of financial education, MaPS undertakes and promotes research to improve their understanding of children and young people’s financial education needs and their financial wellbeing. MaPS’ assessment of the evidence is that the skills, knowledge, attitudes and behaviours that help people to manage money and achieve good financial wellbeing begin to develop from an early age and continue to develop throughout childhood and the teenage years. MaPS’ published research can be found here: https://maps.org.uk/en/publications/research.

Financial education is currently taught through the national curriculum for mathematics at key stages 1 to 4 and citizenship at key stages 3 and 4. Together this covers personal budgeting, saving for the future, managing credit and debt and calculating interest. Primary schools are free to teach financial education within citizenship. The non-statutory primary citizenship programme of study at key stages 1 and 2 equip pupils to look after their money and realise that future wants and needs may be met through saving.

The government has established an independent Curriculum and Assessment Review, which seeks to deliver an excellent foundation in core subjects, including mathematics, and a rich, broad and innovative curriculum that readies young people for life and work.

The Review group will publish an interim report in early spring setting out its interim findings and confirming the key areas for further work and publish its final report with recommendations this autumn. We will take decisions on what changes to make to the curriculum in light of these recommendations.

Question to the Department for Education:

To ask His Majesty's Government what topics the additional lessons on Financial Education being produced by the Oak National Academy will cover.

Answered by Baroness Smith of Malvern - Minister of State (Minister for Women and Equalities)

Oak National Academy’s forthcoming financial education resources will support teachers to deliver high quality lessons that prepare children to manage money sensibly and confidently. The resources will cover key stages 1-4, incrementally building pupils’ understanding of key financial concepts, such as saving and budgeting. They will focus on real life applications of mathematics and frame learning in specific, contemporary contexts that reflect the modern world. As well as covering personal finances, the resources will help children and young people consider the important role money plays in wider society.

Found: Amendment 14 was tabled by Lord Thurlow. 10 Lords Amendment 15 was tabled by Baroness Barran and Lord Storey

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Found: sharing in relation to post-16 education” was debated by peers again in 2021 with support from Lord Storey

Found: relation to post-16 education ” was debated by peers again in 2021 with support from Lord Storey

This inquiry will seek to establish a clear vision for what good media literacy would look like in the UK, and examine the barriers to achieving this vision. The committee will consider the roles and responsibilities of the Government, industry and regulators in advancing media literacy, and aim to identify and prioritise the key actions required to enhance media literacy skills across the population.