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1601697

registered interest
date	06/03/2023
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, with reference to Building Beyond Barriers – A roadmap for enhancing financial education in schools of the APPG on Financial Education for Young People, published on February 2023, if she will take steps to help ensure that all school-aged children receive financial education by 2030.
tabling member constituency	Nottingham East
tabling member printed	Nadia Whittome
uin	159124
answer	answer is ministerial correction date of answer 09/03/2023 answer text <p>Financial education forms part of the National Curriculum for citizenship at Key Stages 3 and 4 but can be taught by all schools at all Key Stages. More information can be found here: <a href="https://www.gov.uk/national-curriculum" target="_blank">https://www.gov.uk/national-curriculum</a>. 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 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 an 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>The Department works closely with the Money and Pensions Service (MaPS) and HM Treasury to consider the wide range of evidence for financial education and to explore the opportunities to improve availability of high quality financial education. MaPS has a statutory duty to develop and co-ordinate a national strategy to improve people’s financial capabilities and their ten year strategy, published in 2020, set out their national goal that two million more pupils and young people will receive a meaningful financial education by 2030. The strategy is supported by Delivery Plans for each nation of the UK and details can be found here:<a href="https://www.maps.org.uk/uk-strategy-for-financial-wellbeing/" target="_blank">https://www.maps.org.uk/uk-strategy-for-financial-wellbeing/</a>.</p><p>There is a wide range of support available. MaPS published financial education guidance for primary and secondary schools in England to support head teachers and education decision makers to enhance the financial education currently delivered in their schools. This guidance is available at: <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> answering member constituency Bognor Regis and Littlehampton answering member printed Nick Gibb question first answered 09/03/2023 13:43:52 answering member 111 label Biography information for Nick Gibb
tabling member	4869 label Biography information for Nadia Whittome

1546369

registered interest
date	29/11/2022
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, whether her Department is taking steps to provide young people with education on credit products.
tabling member constituency	Stockton North
tabling member printed	Alex Cunningham
uin	98715
answer	answer is ministerial correction date of answer 02/12/2022 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 where needed.</p><p>Financial education is included in the National Curriculum at Key Stages 3 and 4 but can be taught by all schools at all Key Stages. Pupils should be taught the functions and uses of money, the importance of personal budgeting, money management, and managing financial risk. At secondary school, pupils should be educated on income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and the need to understand financial risk, including any emerging financial trends. Further information can be found here: <a href="https://www.gov.uk/national-curriculum" target="_blank">https://www.gov.uk/national-curriculum</a>.</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.</p><p>The Money and Pensions Service (MaPS) 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 is available at: <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>. This guidance includes links to quality assured resources for schools, including content and activities on cryptocurrencies and buy now, pay later schemes. It also sets out the knowledge pupils need to protect their personal data, critically evaluate online content and identify scams.</p><p>The Department is working with MaPS on a series of joint financial education webinars during the 2022/23 academic year to help both primary and secondary schools, to improve pupils’ knowledge and build teachers’ confidence in this area.</p> answering member constituency Bognor Regis and Littlehampton answering member printed Nick Gibb grouped question UIN 98716 question first answered 02/12/2022 12:25:35 answering member 111 label Biography information for Nick Gibb
tabling member	4122 label Biography information for Alex Cunningham

1546370

registered interest
date	29/11/2022
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, whether her Department is taking steps to provide young people with education on buy-now-pay-later schemes.
tabling member constituency	Stockton North
tabling member printed	Alex Cunningham
uin	98716
answer	answer is ministerial correction date of answer 02/12/2022 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 where needed.</p><p>Financial education is included in the National Curriculum at Key Stages 3 and 4 but can be taught by all schools at all Key Stages. Pupils should be taught the functions and uses of money, the importance of personal budgeting, money management, and managing financial risk. At secondary school, pupils should be educated on income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and the need to understand financial risk, including any emerging financial trends. Further information can be found here: <a href="https://www.gov.uk/national-curriculum" target="_blank">https://www.gov.uk/national-curriculum</a>.</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.</p><p>The Money and Pensions Service (MaPS) 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 is available at: <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>. This guidance includes links to quality assured resources for schools, including content and activities on cryptocurrencies and buy now, pay later schemes. It also sets out the knowledge pupils need to protect their personal data, critically evaluate online content and identify scams.</p><p>The Department is working with MaPS on a series of joint financial education webinars during the 2022/23 academic year to help both primary and secondary schools, to improve pupils’ knowledge and build teachers’ confidence in this area.</p> answering member constituency Bognor Regis and Littlehampton answering member printed Nick Gibb grouped question UIN 98715 question first answered 02/12/2022 12:25:36 answering member 111 label Biography information for Nick Gibb
tabling member	4122 label Biography information for Alex Cunningham

1540112

registered interest
date	07/11/2022
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what plans she has to improve young people’s understanding of financial products.
tabling member constituency	East Ham
tabling member printed	Sir Stephen Timms
uin	80572
answer	answer is ministerial correction date of answer 14/11/2022 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. Financial education is included in the National Curriculum at Key Stages 3 and 4 but can be taught by schools at all Key Stages.</p><p>Pupils should be taught about the functions and uses of money, 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 the need to understand financial risk, including any emerging financial trends.</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.</p><p>The Money and Pensions Service (MaPS) published financial education guidance for primary and secondary schools in England in November 2021, to support head teachers to enhance their financial education provision. Guidance for this can be found 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 guidance includes links to quality assured resources for schools, including content and activities on cryptocurrencies and buy now, pay later schemes. It also sets out the knowledge and skills pupils need to protect their personal data, critically evaluate online content, and identify scams.</p><p>The Department and MaPS are planning a series of joint financial education webinars during this academic year, to help schools to improve pupils’ skills and knowledge and build teachers’ confidence in this area.</p><p> </p> answering member constituency Bognor Regis and Littlehampton answering member printed Nick Gibb grouped question UIN 80573 question first answered 14/11/2022 14:37:46 answering member 111 label Biography information for Nick Gibb
tabling member	163 label Biography information for Sir Stephen Timms

1540113

registered interest
date	07/11/2022
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what plans she has to improve young people’s understanding of buy-now-pay-later schemes.
tabling member constituency	East Ham
tabling member printed	Sir Stephen Timms
uin	80573
answer	answer is ministerial correction date of answer 14/11/2022 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. Financial education is included in the National Curriculum at Key Stages 3 and 4 but can be taught by schools at all Key Stages.</p><p>Pupils should be taught about the functions and uses of money, 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 the need to understand financial risk, including any emerging financial trends.</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.</p><p>The Money and Pensions Service (MaPS) published financial education guidance for primary and secondary schools in England in November 2021, to support head teachers to enhance their financial education provision. Guidance for this can be found 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 guidance includes links to quality assured resources for schools, including content and activities on cryptocurrencies and buy now, pay later schemes. It also sets out the knowledge and skills pupils need to protect their personal data, critically evaluate online content, and identify scams.</p><p>The Department and MaPS are planning a series of joint financial education webinars during this academic year, to help schools to improve pupils’ skills and knowledge and build teachers’ confidence in this area.</p><p> </p> answering member constituency Bognor Regis and Littlehampton answering member printed Nick Gibb grouped question UIN 80572 question first answered 14/11/2022 14:37:46 answering member 111 label Biography information for Nick Gibb
tabling member	163 label Biography information for Sir Stephen Timms

1363703

registered interest
date	26/10/2021
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what steps is he taking to improve the financial literacy of school children in Feltham and Heston constituency.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	63729
answer	answer is ministerial correction date of answer 29/10/2021 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 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 has 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 secondary mathematics curriculum develops pupils’ understanding and skills in relation to more complex personal finance issues such as calculating loan repayments, interest rates and compound interest.</p><p>As with other aspects of the curriculum, schools have flexibility over how they deliver these subjects, so they can develop an integrated approach that is sensitive to the needs and background of their pupils.</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 constituency Worcester answering member printed Mr Robin Walker question first answered 29/10/2021 12:01:08 answering member 4091 label Biography information for Mr Robin Walker
tabling member	4253 label Biography information for Seema Malhotra

1349299

registered interest
date	21/07/2021
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what steps his Department is taking to support the development of financial literacy skills for (a) primary school and (b) secondary school children.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	37475
answer	answer is ministerial correction date of answer 06/09/2021 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 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 has introduced a rigorous mathematics curriculum, which provides young people with the knowledge and mathematical skills to make important financial decisions. In the primary mathematics curriculum, there is a strong emphasis on the essential arithmetic that pupils should be taught. This is vital, as a strong grasp of numeracy 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. 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 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 constituency Bognor Regis and Littlehampton answering member printed Nick Gibb question first answered 06/09/2021 13:53:46 answering member 111 label Biography information for Nick Gibb
tabling member	4253 label Biography information for Seema Malhotra

1311932

registered interest
date	26/04/2021
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	1
legislature	25259 pref label House of Commons
question text	What recent assessment his Department has made of the potential merits of educating children on financial responsibility.
tabling member constituency	Don Valley
tabling member printed	Nick Fletcher
uin	914750
answer	answer is ministerial correction date of answer 26/04/2021 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>Pupils currently receive financial education through the maths and citizenship curricula, both subjects are in the National Curriculum.</p><p>Finance education as part of the citizenship curriculum can be taught at all key stages. The curriculum seeks to develop young people’s financial awareness and skills by helping them to look after their money and realise that future wants and needs may be met through saving. This is built on at secondary school to cover 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 introduced a rigorous mathematics curriculum, which provides pupils with the knowledge and skills to make important financial decisions. In the primary mathematics curriculum, there is a strong emphasis on arithmetical knowledge; this knowledge is vital, as a strong understanding of numeracy will underpin pupils’ ability to manage budgets and money. There is also specific content about financial education, including calculations with money.</p><p>Schools are also free to include the teaching of financial education in their non-statutory personal, social, health and economic (PSHE) provision if they wish, drawing on the PSHE Association’s non-statutory programme of study.</p><p>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 and organisations.</p><p>The Department continues to work closely with the Money and Pensions Service and other stakeholders such as Her Majesty’s Treasury, to consider what can be learned from a range of external initiatives and whether there is scope to provide further support for the teaching of financial education in schools.</p> answering member constituency Bognor Regis and Littlehampton answering member printed Nick Gibb question first answered 26/04/2021 16:30:15 answering member 111 label Biography information for Nick Gibb
tabling member	4832 label Biography information for Nick Fletcher

1306536

registered interest
date	25/03/2021
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what assessment his Department has made of the adequacy of the provision of financial education in primary education; and whether his Department supports the aims of Global Money Week.
tabling member constituency	Harlow
tabling member printed	Robert Halfon
uin	175815
answer	answer is ministerial correction date of answer 13/04/2021 answer text <p>It is important that pupils are well prepared to manage their money, make sound financial decisions and know where to seek further information, if required.</p><p> </p><p>Financial education forms part of the citizenship curriculum which can be taught at all keys stages: <a href="https://www.gov.uk/national-curriculum" target="_blank">https://www.gov.uk/national-curriculum</a>. The curriculum aligns well with the aims of Global Money Week, in that it seeks to develop young people’s financial awareness and skills by helping them to look after their money and realise that future wants and needs may be met through saving. This is built on at secondary school to cover income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.</p><p> </p><p>Citizenship is not a compulsory subject at primary school. Primary schools are free to include additional content on financial management, including working with external experts. 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> </p><p>The Department will continue to work closely with the Money and Pensions Service and other stakeholders such as Her Majesty’s Treasury, to consider what can be discovered from such initiatives and whether there is scope to provide further support for the teaching of financial education in schools.</p><p> </p><p>The Department did not promote discussions on money during Global Money Week in March as our focus was on the successful and safe re-opening of schools.</p><p> </p> answering member constituency Bognor Regis and Littlehampton answering member printed Nick Gibb grouped question UIN 175816 question first answered 13/04/2021 16:10:09 answering member 111 label Biography information for Nick Gibb
tabling member	3985 label Biography information for Robert Halfon

1306537

registered interest
date	25/03/2021
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	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, how his Department plans to promote discussions on money in primary schools during Global Money Week to build financial resilience to future economic shocks; and if he will make a statement.
tabling member constituency	Harlow
tabling member printed	Robert Halfon
uin	175816
answer	answer is ministerial correction date of answer 13/04/2021 answer text <p>It is important that pupils are well prepared to manage their money, make sound financial decisions and know where to seek further information, if required.</p><p> </p><p>Financial education forms part of the citizenship curriculum which can be taught at all keys stages: <a href="https://www.gov.uk/national-curriculum" target="_blank">https://www.gov.uk/national-curriculum</a>. The curriculum aligns well with the aims of Global Money Week, in that it seeks to develop young people’s financial awareness and skills by helping them to look after their money and realise that future wants and needs may be met through saving. This is built on at secondary school to cover income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.</p><p> </p><p>Citizenship is not a compulsory subject at primary school. Primary schools are free to include additional content on financial management, including working with external experts. 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> </p><p>The Department will continue to work closely with the Money and Pensions Service and other stakeholders such as Her Majesty’s Treasury, to consider what can be discovered from such initiatives and whether there is scope to provide further support for the teaching of financial education in schools.</p><p> </p><p>The Department did not promote discussions on money during Global Money Week in March as our focus was on the successful and safe re-opening of schools.</p><p> </p> answering member constituency Bognor Regis and Littlehampton answering member printed Nick Gibb grouped question UIN 175815 question first answered 13/04/2021 16:10:09 answering member 111 label Biography information for Nick Gibb
tabling member	3985 label Biography information for Robert Halfon