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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 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 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 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><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><p>The
Department supports wider initiatives that aim to improve financial confidence, such
as Talk Money Week, led by the Money and Pensions Service (MaPS). Talk Money Week
is a platform for all UK citizens that aims to encourage open discussions at home,
within families and at school about managing money. More information is available
at: <a href="https://maps.org.uk/talk-money-week/" target="_blank">https://maps.org.uk/talk-money-week/</a><em>.
</em></p><p>The Department does not plan to make its own assessment of the contribution
of Talk Money Week to improving the provision of financial education at primary education
level. We will continue to work closely with the MaPS and other stakeholders such
as Her Majesty’s Treasury to consider what can be learnt from such initiatives and
how to provide further support for the teaching of financial education in schools<em>.</em></p>
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