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<p>Education on financial matters helps 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. 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>We also introduced a rigorous 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 One to Four.</p><p>In the primary Mathematics curriculum, there is a strong
emphasis on the essential 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, including, for example, percentages. There is also some
specific content about financial education, such as calculations with money.</p><p>We
trust teachers 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><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.
Our 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><p>Our
£1 billion COVID-19 catch-up package, with £650 million shared across schools over
the 2020/21 academic year, will support education settings to put the right catch-up
support in place. Information about our COVID-19 catch-up package is found here: <a
href="https://www.gov.uk/government/news/billion-pound-covid-catch-up-plan-to-tackle-impact-of-lost-teaching-time"
target="_blank">https://www.gov.uk/government/news/billion-pound-covid-catch-up-plan-to-tackle-impact-of-lost-teaching-time</a>.</p><p>The
Education Endowment Foundation have published a COVID-19 support guide to support
schools to direct this funding. Information about our COVID-19 support guide is found
here: <a href="https://educationendowmentfoundation.org.uk/covid-19-resources/national-tutoring-programme/covid-19-support-guide-for-schools/#closeSignup"
target="_blank">https://educationendowmentfoundation.org.uk/covid-19-resources/national-tutoring-programme/covid-19-support-guide-for-schools/#closeSignup</a>.</p><p>For
the longer term, the Department will continue to work closely with The Money and Pension
Service and HM Treasury, to consider how to provide further support for the teaching
of financial education in schools<em>.</em></p><p> </p>
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