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1699279

registered interest
date	27/03/2024
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the Written Answer by Baroness Barran on 19 February (HL2185), whether they plan to undertake a detailed review of the teaching of financial literacy in Denmark, Norway and Sweden with a view to updating the mathematics national curriculum.
tabling member printed	Lord Cruddas
uin	HL3662
answer	answer is ministerial correction date of answer 08/04/2024 answer text <p>The department has no plans to undertake a detailed review of the teaching of financial literacy in Denmark, Norway and Sweden. The department continues to work closely with HM Treasury and the Money and Pensions Service to monitor the evidence base for financial education to understand what works and what further support schools may need.</p><p>In order to provide stability for schools and to enable them to remain focused on raising standards of literacy and numeracy and recovery from the pandemic, the government has committed to making no changes to the national curriculum for the remainder of the Parliament.</p><p>The current mathematics curriculum in England already provides young people with the mathematical knowledge that underpins their ability to make important financial decisions. Mathematics is compulsory in maintained schools and academies must teach a broad and balanced curriculum, including mathematics. Since 2014, the department has reformed the mathematics curriculum and examinations system, bringing teaching practice from high-performing jurisdictions from across East Asia to primary and secondary schools in England.</p><p>International comparison studies of school-aged pupils show that England performs above the international averages for mathematics for all age groups. Before the pandemic, England achieved its highest ever mathematics score in the 2019 Trends in International Mathematics and Science Study international test for year five pupils.</p><p>Ofsted’s latest mathematical subject report in 2023 stated that primary mathematics education has seen &quot;a resounding, positive shift&quot; with curriculum sitting &quot;at the heart of leaders' decisions and actions&quot;, whilst secondary mathematics education has seen &quot;notable improvements&quot; in curriculum guidance and professional development.</p> answering member printed Baroness Barran question first answered 08/04/2024 12:47:44 answering member 4703 label Biography information for Baroness Barran
tabling member	4907 label Biography information for Lord Cruddas

1699280

registered interest
date	27/03/2024
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the Written Answer by Baroness Barran on 19 February (HL2185), what proportion of (1) primary, and (2) secondary, schools the Maths Hubs’ Teaching for Mastery programme has reached in the light of the targets mentioned in the Answer to reach 75 per cent of primary schools and 65 per cent of secondary schools by 2025.
tabling member printed	Lord Cruddas
uin	HL3663
answer	answer is ministerial correction date of answer 08/04/2024 answer text <p>As of February 2024, 69.7% of open primary schools (11,680) and 57.7% of open secondary schools (1,970) have participated in at least one year of the Teaching for Mastery Programme.</p><p> </p> answering member printed Baroness Barran question first answered 08/04/2024 12:48:04 answering member 4703 label Biography information for Baroness Barran
tabling member	4907 label Biography information for Lord Cruddas

1699281

registered interest
date	27/03/2024
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the Written Answer by Baroness Barran on 19 February (HL2185), what steps they are taking to ensure financial literacy education is actually reaching the most disadvantaged students.
tabling member printed	Lord Cruddas
uin	HL3664
answer	answer is ministerial correction date of answer 08/04/2024 answer text <p>It is crucial that all pupils are equipped with the knowledge and tools to manage their finances well in later life. That is why financial education is embedded in the national curriculum for mathematics at key stages 1 to 4, and in citizenship at key stages 3 and 4.</p><p>The national curriculum is compulsory for maintained schools, but all schools are measured by Ofsted on having a broad and balanced curriculum which is comparable to the national curriculum. As with other aspects of the curriculum, schools can choose how to teach financial education and they can tailor what they teach to make sure all pupils are taught what they need to know.</p><p>The Levelling Up White Paper identified 55 Education Investment Areas where the department will implement a package of measures to drive school improvement and accelerate progress towards the department’s 2030 ambition that 90% of pupils meet the expected standards in reading, writing and mathematics at the end of primary school and that the average mathematics and English GCSE grade increases to a 5.</p><p>There is a range of financial education support for schools. For example, Oak National Academy, an Arm’s Length Body, has published its initial mathematics resources, with the full curriculum available by this autumn. As part of this, Oak is exploring including additional lessons in real life mathematics. Secondary citizenship resources will become available from autumn 2024 and will be complete by autumn 2025. The Money and Pensions Service has published guidance for schools and there is specialist support for fraud and tax education from the Home Office and HMRC respectively.</p><p>The department also works closely with the Money and Pensions Service which exists to help people make the most of their money and pensions, particularly those most in need and those most vulnerable to financial insecurity. The Money and Pensions Service has invested £1.1 million in financial education programmes to support children and young people in vulnerable circumstances and has published guidance to help children and young people's services to embed financial wellbeing into the services they offer.</p> answering member printed Baroness Barran question first answered 08/04/2024 12:48:37 answering member 4703 label Biography information for Baroness Barran
tabling member	4907 label Biography information for Lord Cruddas

1613066

registered interest
date	20/04/2023
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the Written Answer by Baroness Barran on 3 April (HL6647),  what discussions they have had with (1) Barclays LifeSkills, (2) EVERFI, (3) HSBC, (4) Lloyds Banking Group, (5) NatWest MoneySense, (6) Santander Moneywise, and (7) other financial education providers, about improving financial education in the UK.
tabling member printed	The Lord Bishop of St Albans
uin	HL7353
answer	answer is ministerial correction date of answer 04/05/2023 answer text <p>The department has had conversations with a number of external organisations to understand what financial education programmes they deliver. This includes conversations with Barclays LifeSkills, Santander MoneyWise, the Just Finance Foundation, the Church of England, the Financial Times’ Financial Literacy and Inclusion Campaign, Young Enterprise and KickStart money.</p><p>The department has not spoken to the other organisations included in this list, but does work closely with The Money and Pensions Service (MaPS) and His Majesty’s Treasury to consider how we can support the teaching of financial education in schools. MaPS, as an arm’s length body sponsored by the Department for Work and Pensions, published their UK Strategy for Financial Wellbeing in January 2020. This is a ten-year framework to help UK citizens to make the most of their money and pensions. One of the key themes of their strategy is to support the financial wellbeing of children and young people. Their national goal is to ensure that two million more children and young people receive a meaningful financial education by 2030.</p><p>Education on financial matters throughout secondary school helps to ensure that pupils are prepared to manage their money well, make sound financial decisions and know where to seek further information when needed. Children should receive age appropriate financial education as part of compulsory education, so that those who leave school early can benefit. Financial education forms part of the citizenship National Curriculum, at Key Stages 3 and 4, but can be taught by all schools at all Key Stages. The subject covers the functions and uses of money, the importance of personal budgeting, money management, and managing financial risk. At secondary school, pupils are taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.</p><p>The mathematics curriculum includes a strong emphasis on the essential arithmetic that primary pupils should be taught. A strong grasp of mathematics will underpin pupils’ ability to manage budgets and money, including, for example, using percentages. The secondary mathematics curriculum develops pupils’ understanding in relation to more complex personal finance issues such as calculating loan repayments, interest rates and compound interest.</p><p>MaPS has published financial education guidance for primary and secondary schools and we will deliver a series of webinars in due course. The MaPS guidance can be found attached.</p> answering member printed Baroness Barran attachment 1 file name financial-education-guidance-primary-schools-england-2021.pdf title HL7353_HL7354_primary_guidance 2 file name financial-education-guidance-secondary-schools-england-2021.pdf title HL7353_HL7354_secondary_guidance grouped question UIN HL7354 question first answered 04/05/2023 15:43:46 answering member 4703 label Biography information for Baroness Barran
tabling member	4308 label Biography information for The Lord Bishop of St Albans

1613067

registered interest
date	20/04/2023
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the Written Answer by Baroness Barran on 3 April (HL6647), what steps they are taking to provide financial education for those who leave school early.
tabling member printed	The Lord Bishop of St Albans
uin	HL7354
answer	answer is ministerial correction date of answer 04/05/2023 answer text <p>The department has had conversations with a number of external organisations to understand what financial education programmes they deliver. This includes conversations with Barclays LifeSkills, Santander MoneyWise, the Just Finance Foundation, the Church of England, the Financial Times’ Financial Literacy and Inclusion Campaign, Young Enterprise and KickStart money.</p><p>The department has not spoken to the other organisations included in this list, but does work closely with The Money and Pensions Service (MaPS) and His Majesty’s Treasury to consider how we can support the teaching of financial education in schools. MaPS, as an arm’s length body sponsored by the Department for Work and Pensions, published their UK Strategy for Financial Wellbeing in January 2020. This is a ten-year framework to help UK citizens to make the most of their money and pensions. One of the key themes of their strategy is to support the financial wellbeing of children and young people. Their national goal is to ensure that two million more children and young people receive a meaningful financial education by 2030.</p><p>Education on financial matters throughout secondary school helps to ensure that pupils are prepared to manage their money well, make sound financial decisions and know where to seek further information when needed. Children should receive age appropriate financial education as part of compulsory education, so that those who leave school early can benefit. Financial education forms part of the citizenship National Curriculum, at Key Stages 3 and 4, but can be taught by all schools at all Key Stages. The subject covers the functions and uses of money, the importance of personal budgeting, money management, and managing financial risk. At secondary school, pupils are taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.</p><p>The mathematics curriculum includes a strong emphasis on the essential arithmetic that primary pupils should be taught. A strong grasp of mathematics will underpin pupils’ ability to manage budgets and money, including, for example, using percentages. The secondary mathematics curriculum develops pupils’ understanding in relation to more complex personal finance issues such as calculating loan repayments, interest rates and compound interest.</p><p>MaPS has published financial education guidance for primary and secondary schools and we will deliver a series of webinars in due course. The MaPS guidance can be found attached.</p> answering member printed Baroness Barran attachment 1 file name financial-education-guidance-primary-schools-england-2021.pdf title HL7353_HL7354_primary_guidance 2 file name financial-education-guidance-secondary-schools-england-2021.pdf title HL7353_HL7354_secondary_guidance grouped question UIN HL7353 question first answered 04/05/2023 15:43:46 answering member 4703 label Biography information for Baroness Barran
tabling member	4308 label Biography information for The Lord Bishop of St Albans

1605381

registered interest
date	20/03/2023
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to promote financial literacy in schools.
tabling member printed	The Lord Bishop of St Albans
uin	HL6647
answer	answer is ministerial correction date of answer 03/04/2023 answer text <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.</p><p>Finance education forms part of the citizenship National Curriculum, at Key Stages 3 and 4, but can be taught by all schools at all Key Stages. The subject covers the functions and uses of money, the importance of personal budgeting, money management, and managing financial risk. At secondary school, pupils are taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.</p><p>The mathematics curriculum includes a strong emphasis on the essential arithmetic that primary pupils should be taught. A strong grasp of mathematics will underpin pupils’ ability to manage budgets and money, including, for example, using percentages. The secondary mathematics curriculum develops pupils’ understanding in relation to more complex personal finance issues such as calculating loan repayments, interest rates and compound interest.</p><p>My right hon. Friend, the Prime Minister, has set out a new mission to ensure all pupils study some form of mathematics to 18. Studying mathematics to 18 will equip young people with the quantitative and statistical skills that they will need for the jobs of today and the future. This includes having the knowledge to feel confident with finances in later life, including things like finding the best mortgage deal or savings rate.</p><p>The Department works with the Money and Pensions Service (MaPS) and HM Treasury to support the effective teaching of financial education. MaPS has published financial education guidance for primary and secondary schools, and we will deliver a series of webinars in due course. The MaPS financial education guidance for primary and secondary schools can be found in the attached documents.</p> answering member printed Baroness Barran attachment 1 file name HL6647_primary_school_financial_education.pdf title MaPS Primary school financial education 2 file name HL6647_secondary_school_financial_education.pdf title MaPS Secondary school financial education question first answered 03/04/2023 15:11:59 answering member 4703 label Biography information for Baroness Barran
tabling member	4308 label Biography information for The Lord Bishop of St Albans

1539333

registered interest
date	03/11/2022
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they have plans to increase the financial education provided to young people, including teaching about savings, investments, mortgages and other borrowing.
tabling member printed	Lord Lee of Trafford
uin	HL3195
answer	answer is ministerial correction date of answer 16/11/2022 answer text <p>The department wants all young people to manage their money well, make sound financial decisions and know where to seek further information when needed.</p><p>Finance education forms part of the citizenship national curriculum, at Key Stages 3 and 4, but can be taught by all schools at all Key Stages.</p><p>The subject covers the functions and uses of money, the importance of personal budgeting, money management and managing financial risk. At secondary school, pupils are taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.</p><p>The mathematics curriculum includes a strong emphasis on the essential arithmetic that primary pupils should be taught. A strong grasp of mathematics will underpin pupils’ ability to manage budgets and money, including using percentages. The secondary mathematics curriculum develops pupils’ understanding in relation to more complex personal finance issues, such as calculating loan repayments, interest rates and compound interest.</p><p>The Money and Pensions Service published financial education guidance for primary and secondary schools in England in November 2021, to support school leaders to enhance their financial education provision. The guidance can be found here: <a href="https://maps.org.uk/financial-education-in-schools/" target="_blank">https://maps.org.uk/financial-education-in-schools/</a>.</p><p>The department and the Money and Pensions Service are also planning a series of joint financial education webinars during this academic year, aimed at promoting the importance of financial education, improving pupils’ skills and knowledge and teachers’ confidence.</p> answering member printed Baroness Barran question first answered 16/11/2022 17:32:41 answering member 4703 label Biography information for Baroness Barran
tabling member	1132 label Biography information for Lord Lee of Trafford

1473005

registered interest
date	23/06/2022
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to improve the provision of financial education for pupils eligible for free school meals.
tabling member printed	Baroness Sater
uin	HL1247
answer	answer is ministerial correction date of answer 06/07/2022 answer text <p>The department wants all schools to offer high standard of financial education. In delivering the curriculum, including financial education, schools should take account of pupils with particular needs and adapt lessons accordingly.</p><p>Education on financial matters helps to ensure that pupils are taught the functions and uses of money, the importance of personal budgeting, money management and managing financial risk. Finance education forms part of the citizenship national curriculum which can be taught at all key stages and is compulsory at key stages 3 and 4: <a href="https://www.gov.uk/national-curriculum" target="_blank">https://www.gov.uk/national-curriculum</a>. At secondary school, pupils are taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.</p><p>The department has also introduced a rigorous mathematics curriculum, which provides young people with the knowledge and financial skills to make important financial decisions. In the primary mathematics curriculum, there is a strong emphasis on the essential arithmetic knowledge that pupils should be taught. This knowledge is vital, as a strong grasp of numeracy and numbers will underpin pupils’ ability to manage budgets and money, including, for example, using percentages. There is also some specific content about financial education, such as calculations with money.</p><p>The department has not made any specific requirement for financial education provision for pupils who are eligible for free school meals, however, as with other aspects of the curriculum, schools have flexibility over how they deliver these subjects. This means schools can develop an integrated approach that is sensitive to the needs and background of their pupils.</p><p>The Money and Pensions Service published financial education guidance for primary and secondary schools in England, to support school leaders to enhance the financial education currently delivered in their schools to make it memorable and impactful. The guidance is available here: <a href="https://maps.org.uk/2021/11/11/financial-education-guidance-for-primary-and-secondary-schools-in-england/" target="_blank">https://maps.org.uk/2021/11/11/financial-education-guidance-for-primary-and-secondary-schools-in-england/</a>.</p><p>The department will continue to work closely with the Money and Pensions Service and other stakeholders, such as HM Treasury, to consider learning from other sector initiatives and whether there is scope to provide further support for the teaching of financial education in schools.</p> answering member printed Baroness Barran question first answered 06/07/2022 14:03:39 answering member 4703 label Biography information for Baroness Barran
tabling member	4700 label Biography information for Baroness Sater

1338334

registered interest
date	21/06/2021
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to implement personal financial education into the UK curriculum.
tabling member printed	Lord Taylor of Warwick
uin	HL1270
answer	answer is ministerial correction date of answer 05/07/2021 answer text <p>Economic and financial education are important parts of a broad and balanced curriculum and provide the essential knowledge 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.</p><p>Financial education forms part of the citizenship National Curriculum which can be taught at all Key Stages and is compulsory at Key Stages 3 and 4: <a href="https://www.gov.uk/national-curriculum" target="_blank">https://www.gov.uk/national-curriculum</a>. Financial education ensures that pupils are taught the functions and uses of money, the importance of personal budgeting, money management and managing financial risk. At secondary school, pupils are taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.</p><p>The Department works closely with the Money and Pensions Service and other stakeholders, such as Her Majesty’s Treasury, to consider what can be discovered from other sector initiatives and whether there is scope to provide further support for the teaching of financial education in schools.</p> answering member printed Baroness Berridge question first answered 05/07/2021 15:56:13 answering member 4218 label Biography information for Baroness Berridge
tabling member	1796 label Biography information for Lord Taylor of Warwick

1312512

registered interest
date	27/04/2021
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Financial Services: Education
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to include financial education into the national curriculum.
tabling member printed	Lord Taylor of Warwick
uin	HL15315
answer	answer is ministerial correction date of answer 29/04/2021 answer text <p>Due to shortage of time, it has not been possible to answer this question before the end of the Session. The Minister will write to the Member in due course.</p> answering member printed Baroness Berridge question first answered 29/04/2021 12:18:05 answering member 4218 label Biography information for Baroness Berridge
tabling member	1796 label Biography information for Lord Taylor of Warwick