Financial Services: Primary Education

(asked on 29th November 2022) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, what assessment she has made of the potential merits of the addition of financial education to the primary school national curriculum.


Answered by
Nick Gibb Portrait
Nick Gibb
This question was answered on 2nd December 2022

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.

The primary school curriculum includes financial education within mathematics, which provides young people with the knowledge to make important financial decisions. A strong grasp of mathematics will underpin pupils’ ability to manage budgets and money, including, for example, using percentages. The mathematics curriculum also includes specific content on financial education, such as calculations with money.

Primary schools can teach financial education through citizenship. Although this is not part of the National Curriculum until Key Stage 3, the Department has published a non-statutory citizenship curriculum for Key Stages 1 and 2, to support schools to ensure that pupils are taught how to look after their money and realise that future wants and needs may be met through saving. There is also a wide range of resources available for schools, including the Money and Pension Service’s (MaPS) financial education guidance for primary and secondary schools in England. This can be found here: https://maps.org.uk/2021/11/11/financial-education-guidance-for-primary-and-secondary-schools-in-england/.

The Department does not monitor financial education in primary schools but continues to work with MaPS and HM Treasury to consider the evidence and explore opportunities to promote the importance of financial education to schools.

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