Question to the Department for Education:

To ask His Majesty's Government what steps they are taking to ensure that financial literacy education reaches the most disadvantaged students.

Financial education is currently taught through the National Curriculum for mathematics (at key stages 1 to 4) and citizenship (at key stages 3 and 4) which together cover personal budgeting, saving for the future, managing credit and debt, and calculating interest. The National Curriculum is compulsory for maintained schools. However, all schools are measured by Ofsted on having a broad and balanced curriculum which is comparable to the National Curriculum.

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. That is why the government announced a Curriculum and Assessment Review on 19 July 2024, chaired by Professor Becky Francis CBE.

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.

The review will look closely at the key challenges to attainment for young people, and the barriers which hold children back from the opportunities and life chances they deserve – in particular those who are socioeconomically disadvantaged, or with special educational needs and disabilities.

The review will be undertaken in close consultation with education professionals and other experts, parents, children and young people, and stakeholders. A call for evidence will be launched in the coming weeks, to direct the focus of engagement with the sector and stakeholders over the autumn term.

Following the independent review, the government will legislate to require all state schools teach the reformed National Curriculum. This will give parents certainty over the core of their children’s education.