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Question for Department for Education

UIN HL648, tabled on 10 July 2017

Her Majesty's Government what provision is made in the National Curriculum for England for pupils to be taught basic financial literacy, with the purpose of learning how to manage personal finances and household budgets.

Answered on

21 July 2017

In 2014, financial literacy was made statutory within the National Curriculum and it is now taught as part of the citizenship curriculum 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 National Curriculum for mathematics has also been strengthened to give pupils from 5 to 16 the necessary maths they need to make important financial decisions.

Many schools include the teaching of financial education in their Personal, Social, Health and Economic (PSHE) curriculum, drawing on available resources such as the PSHE Association’s non-statutory programme of study. The programme of study sets out that pupils should have the opportunity to learn about how personal financial choices can affect oneself and others and about rights and responsibilities as consumers.