It is important that pupils are well prepared to manage their money, make sound financial decisions and know where to seek further information. The Department has introduced a rigorous mathematics curriculum, which provides pupils with the knowledge and skills to make important financial decisions and has also published statutory and non-statutory programmes of study for mathematics and citizenship that outline what pupils should be taught about financial education from Key Stages one to four.<\/p>
<\/p>
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. To enable schools to plan their whole curriculum, the Department has also published a non-statutory citizenship curriculum for Key Stages one and two, stating that by the end of primary education pupils should be taught how to look after their money and realise that future wants and needs may be met through saving.<\/p>
<\/p>
In the primary mathematics curriculum, there is a strong emphasis on the arithmetical knowledge that pupils should have. This knowledge is vital, as a strong understanding of numeracy will underpin pupils\u2019 ability to manage budgets and money. There is also some specific content about financial education, including calculations with money.<\/p>
<\/p>
Primary schools are free to include additional content on financial management in their curricula, including working with external experts, however, the Department does not monitor this and trusts schools to use their professional judgement and understanding of their pupils to develop the right teaching approach for their particular context.<\/p>
<\/p>
The Department does not plan to make its own assessment of the contribution of Global Money Week to improving the provision of financial education at primary education level but will continue to work closely with the Money and Pensions Service and other stakeholders such as Her Majesty\u2019s Treasury, to consider what can be gained from such initiatives and whether there is scope to provide further support for the teaching of financial education in schools.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/111", "label" : {"_value" : "Biography information for Nick Gibb"} } , "answeringMemberConstituency" : {"_value" : "Bognor Regis and Littlehampton"} , "answeringMemberPrinted" : {"_value" : "Nick Gibb"} , "dateOfAnswer" : {"_value" : "2021-03-31", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-03-31T11:50:51.917Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2021-03-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Services: Education"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, what recent assessment his Department has made of the adequacy of provision of financial education at a primary education level; and if his Department will make an assessment of the potential contribution of Global Money Week to improving that provision.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4005", "label" : {"_value" : "Biography information for Bob Blackman"} } , "tablingMemberConstituency" : {"_value" : "Harrow East"} , "tablingMemberPrinted" : [{"_value" : "Bob Blackman"} ], "uin" : "174101"} , {"_about" : "http://data.parliament.uk/resources/1260556", "AnsweringBody" : [{"_value" : "Department for Education"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1260556/answer", "answerText" : {"_value" : "
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>
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>
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\u2019 ability to manage budgets and money. There is also some specific content about financial education such as calculations with money.<\/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\u2019s 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>
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\u2019s latest guidance on teaching to support children is set out here: https://www.gov.uk/government/publications/actions-for-schools-during-the-coronavirus-outbreak/guidance-for-full-opening-schools<\/a>.<\/p>"}
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}
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, "dateOfAnswer" : {"_value" : "2020-12-21", "_datatype" : "dateTime"}
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, "answeringDeptId" : {"_value" : "60"}
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, "date" : {"_value" : "2020-12-11", "_datatype" : "dateTime"}
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], "questionText" : "To ask the Secretary of State for Education, whether his Department has made an assessment of the potential merits of Kickstart Money\u2019s live virtual financial education sessions delivered by MyBnk to help ensure financial education continues in schools during the covid-19 outbreak.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
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, {"_about" : "http://data.parliament.uk/resources/1260557", "AnsweringBody" : [{"_value" : "Department for Education"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1260557/answer", "answerText" : {"_value" : " 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> 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> 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\u2019 ability to manage budgets and money. There is also some specific content about financial education such as calculations with money.<\/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\u2019s 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>