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Financial Services: Education

Question for Department for Education

UIN HL1270, tabled on 21 June 2021

To ask Her Majesty's Government what plans they have to implement personal financial education into the UK curriculum.

Answered on

5 July 2021

Economic and financial education are important parts of a broad and balanced curriculum and provide the essential knowledge to ensure that young people are prepared to manage their money well, make sound financial decisions and know where to seek further information when needed.

Financial education forms part of the citizenship National Curriculum which can be taught at all Key Stages and is compulsory at Key Stages 3 and 4: Financial education ensures that pupils are taught the functions and uses of money, the importance of personal budgeting, money management and managing financial risk. At secondary school, pupils are taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.

The Department works closely with the Money and Pensions Service and other stakeholders, such as Her Majesty’s Treasury, to consider what can be discovered from other sector initiatives and whether there is scope to provide further support for the teaching of financial education in schools.