Financial Conduct Authority: Financial Inclusion

Lord Tyrie Excerpts

Tuesday 22nd March 2022 Lords Chamber

[Baroness Penn (Con)]

My Lords, we are taking action in a number of areas. As we have committed to previously, we will ensure that we legislate to ensure access to cash. There are also some industry led-solutions under way, with five new bank hubs set up this year that allow different banks to pool their services together to ensure that communities still have access to those important services.

[Lord Tyrie (Non-Afl)]

Does the Minister agree that one means of improving financial inclusion would be to add financial literacy to the core curriculum in schools, and will she now consider it?

[Baroness Penn (Con)]

My Lords, financial education is covered within both the citizenship and mathematics curricula, and primary schools are strongly encouraged to teach citizenship, including financial education. In addition, the Money and Pensions Service published financial education guidance for primary and secondary schools last year to support school leaders in enhancing the financial education that is currently delivered in their schools to make it memorable and impactful.