Question to the Department for Education:

To ask the Secretary of State for Education, what assessment she has made of the potential merits of extending financial education to primary school children.

Financial education currently forms a compulsory part of the national curriculum for mathematics, at key stages 1 to 4, and citizenship, at key stages 3 and 4. The primary mathematics curriculum includes arithmetic knowledge that supports pupils’ ability to manage budgets and money, including, for example, calculations with money and percentages.

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, covering ages 5 to 18, chaired by Professor Becky Francis CBE. The Review is committed to ensuring a high-quality, knowledge-rich curriculum that drives excellence in education across a broad range of subjects and pathways. The next phase of work will consider whether there is sufficient coverage of key knowledge and skills to prepare children and young people for future life and to thrive in a fast-changing world, including financial education. The Review’s final report and recommendations will be published in autumn with the government response.