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<p>Education on financial matters ensures that pupils are well prepared to manage
their money, make sound financial decisions and know where to seek further information
if required. In 2014, for the first time, financial literacy was made statutory within
the National Curriculum as part of the citizenship curriculum for 11 to 16 year olds.</p><p>The
Department also introduced a rigorous mathematics curriculum, which provides pupils
with the knowledge and skills to make important financial decisions. The Department
has published statutory programmes of study for mathematics and citizenship that outline
what pupils should be taught about financial education from Key Stages 1 to 4.</p><p>In
the primary mathematics curriculum, there is a strong emphasis on the arithmetic that
pupils should have. This knowledge is vital, as a strong understanding of numeracy
and numbers will underpin the pupils’ ability to manage budgets and money. There is
also some specific content about financial education such as calculations with money.</p><p>The
Department does not monitor or assess the resources that schools use and we trust
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. We will continue to work closely with the Money and Pensions
Service, and other stakeholders such as Her Majesty’s Treasury, to consider what can
be learned from other sector initiatives and how to provide further support for the
teaching of financial education in schools.</p><p>Schools should have resumed teaching
an ambitious and broad curriculum in all subjects from the start of the autumn term.
This means that all pupils will be taught a wide range of subjects so they can maintain
their choices for further study and employment. The Department’s latest guidance on
teaching to support children is set out here: <a href="https://www.gov.uk/government/publications/actions-for-schools-during-the-coronavirus-outbreak/guidance-for-full-opening-schools"
target="_blank">https://www.gov.uk/government/publications/actions-for-schools-during-the-coronavirus-outbreak/guidance-for-full-opening-schools</a>.</p>
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