Question to the Department for Education:

To ask the Secretary of State for Education, what provision is made in schools for young adults to learn about money management.

In September 2014, financial literacy was made statutory for the first time as part of the curriculum for citizenship education for 11 to 16 year olds. Pupils are taught the functions and uses of money, the importance of personal budgeting, money management and the need to understand financial risk.

The government has recently introduced a Core Maths qualification that may be taken by post-16 students to prepare students for a variety of mathematical contexts they will encounter in future study, employment and life. This includes managing their personal finances.

We have also strengthened the national curriculum for mathematics to give pupils aged 5 to 16 the necessary mathematical skills they need to make important financial decisions about mortgages and loan repayments.

The programme of study for citizenship and mathematics can be found online: www.gov.uk/government/collections/national-curriculum.