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<p>In 2014 financial literacy was made statutory within the national curriculum 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.</p><p> </p><p>The Department has introduced a rigorous
new mathematics curriculum, which provides young people with the knowledge and financial
skills to make important financial decisions. The Government has published statutory
programmes of study for mathematics and citizenship that outline what pupils should
learn about financial education from Key Stages 1-4.</p><p> </p><p>The Department
trusts schools to use their professional judgement and understanding of their pupils
to develop the right teaching approach for their particular school, drawing on the
expertise of subject associations and organisations such as Young Money.</p>
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