Financial Services: Primary Education

(asked on 25th October 2022) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, what steps his Department is taking to embed financial education in primary schools.

Answered by
Nick Gibb Portrait
Nick Gibb
This question was answered on 7th November 2022

The Department has introduced a rigorous mathematics curriculum, providing young people with the knowledge and financial skills to make important financial decisions. In the primary mathematics curriculum, there is a strong emphasis on the essential arithmetic knowledge that pupils should be taught. This knowledge is vital, as a strong grasp of numeracy and numbers will underpin pupils’ ability to manage budgets and money, for example, using percentages. There is also some specific content about financial education, such as calculations with money.

Primary schools can choose to teach additional financial education content through external organisations but the Department does not monitor this. The Department trusts schools to use their professional judgement and understanding of their pupils to develop the right teaching approach for their school, drawing on the expertise and support of subject associations and other organisations that produce and quality assure resources.

There is a wide range of support available. For instance, the Money and Pension Service published financial education guidance for primary and secondary schools in England, to support head teachers and decision makers to enhance the financial education currently delivered in their schools. In addition, the Department, together with the Money and Pensions Service, will deliver a series of joint financial education webinars between January and March 2023, aimed at improving teacher confidence, skills and knowledge. This will provide a launchpad for further engagement with training and resources to support continuous improvement.

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