Financial Education

Part of Business of the House – in the House of Commons at 3:31 pm on 15 December 2011.

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Photo of Kevin Brennan Kevin Brennan Shadow Minister (Education) 3:31, 15 December 2011

I am sure the hon. Lady is right; she thinks deeply about these subjects and makes intelligent contributions. The report, however, states:

“Personal finance education should be a compulsory part of every school’s curriculum.”

If that is going to be delivered, there must be some transmission mechanism. I am afraid that history teaches us, and future events will teach us, that exhortations from Secretaries of State—no matter how talented or eloquent they be—are not sufficient to make things a reality on the ground. As I say, there has to be a mechanism to make it happen.

In thinking about this issue, the Minister will need to clarify what the role of the national curriculum will be in a schools landscape where most institutions will not be required to follow it. How will that fit in with the original vision of a national curriculum to be taught by all schools across the country, as introduced by Kenneth Baker, now Lord Baker, who was the Secretary of State when I was a teacher back in the 1980s? How can the Minister ensure adequate teaching of financial education if most schools will ultimately be free to follow their own path?