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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, financial literacy was made statutory within the
national curriculum for the first time, as part of the citizenship curriculum for
11 to 16 year olds.</p><p>The Department 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 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 schools to use their professional judgement and understanding of their pupils
to develop the right teaching approach for their students, drawing on the expertise
of subject associations and organisations such as Young Money.</p><p>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>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 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
Government has made £650 million of catch-up funding available, as part of a wider
£1 billion COVID-19 catch-up package, to be shared across schools over the 2020-21
academic year. Details of the catch-up package are available 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 Fund has published a COVID-19 support guide to support schools
to use this funding effectively.</p>
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