Schools: Financial Literacy

Lord Holmes of Richmond Excerpts

Thursday 20th April 2023 Lords Chamber

[Baroness Barran (Con)]

I understand the direction of the noble Baroness’s question. I would say that the data from the APPG report, which is extremely valuable, is none the less from a very small sample. It was from, I think, 401 teachers across the four nations. So, I think we have to be careful about extrapolating from that. The Money and Pension Service, which is responsible for delivering the additional 2 million children receiving good financial education has a wide range of programmes, including support for teacher training, communication and support for parents as well.

[Lord Holmes of Richmond (Con)]

My Lords, I declare my financial services interests as set out in the register. Would the Minister agree that, alongside financial literacy, we should also revolutionise the curriculum with data literacy, digital literacy and data privacy literary, to have a curriculum fit for the future and fit for now? Further, would she join with me in congratulating the right reverend Prelate the Bishop of St Albans? With the financial literacy initiative from the Church of England, it is clear that the bishop and his colleagues are rightly engaged in both LifeSavers and afterlife savers.

[Baroness Barran (Con)]

I am happy to congratulate the right reverend Prelate on his and his colleagues’ contribution before, during and after life. In relation to my noble friend’s question, data and digital literacy already feature within compulsory national curriculum subjects. Data literacy is covered within mathematics, science, computing and geography and digital literacy within computing and RSHE. They also feature within the subject content of GCSEs, which are counted in the English baccalaureate.