Schools: Financial Literacy

Lord Weir of Ballyholme Excerpts

Thursday 20th April 2023 Lords Chamber

[Baroness Barran (Con)]

I think I already, in response to my noble friend’s question, addressed, in part, the noble Lord’s question, namely in that we already teach children about the risks relating to advertising, and in particular the advertising of online gambling.

[Lord Weir of Ballyholme (DUP)]

My Lords, the Minister has rightly identified that there are a variety of good programmes out there, such as LifeSavers. But in my experience in this field and other fields, sometimes within schools there is not always the greatest awareness of what is there. In light of one of the earlier questions which talked about coherence in the system, what actions are the Government taking to ensure that schools are made aware of best practice in this field to ensure they get the best possible provision for their young people?

[Baroness Barran (Con)]

We are doing quite a lot to support schools in teaching financial literacy. So, as I mentioned, we will be delivering webinars for schools in the next academic year, which will help teachers deliver the most practical and engaging content. The Money and Pension Service has already published financial education guidance for schools, and there is a quality mark accreditation scheme. Also, the Oak National Academy will be producing curriculum packages in this area.