Question to the Department for Education:

To ask the Secretary of State for Education, what steps she is taking to ensure adequate levels of financial education in schools.

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. In secondary mathematics, pupils are taught topics such as how to calculate compound interest, which is relevant for personal finance. In citizenship, pupils are taught the function and uses of money, how to budget and manage credit and debt, as well as concepts like insurance, savings and pensions.

High and rising school standards are at the heart of the government’s mission to break down barriers to opportunity and give every child the best start in life. The government‘s ambition is for a broad, rich and cutting-edge curriculum that equips children and young people with the essential knowledge and skills required to thrive as citizens, in work and throughout life. This is why the government announced a Curriculum and Assessment Review on 19 July 2024, chaired by Professor Becky Francis CBE.

The Curriculum and Assessment Review group has launched a call for evidence. The review group has set out a number of key questions and themes where it would particularly welcome evidence and input from the sector and stakeholders to help direct the focus of the review and engagement with the sector over the autumn term.

The views of young people, parents, teachers, lecturers, leaders and other education staff and experts are pivotal to the recommendations, so that the panel can draw on the wealth of expertise and experience across the sector. Anyone can access and respond to the call for evidence.