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Financial Services: Education

Education written question – answered on 18th July 2013.

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Photo of Alex Cunningham Alex Cunningham Labour, Stockton North

To ask the Secretary of State for Education what assessment he has made of the value of extending financial education to the primary school curriculum; and if he will make a statement.

Photo of Elizabeth Truss Elizabeth Truss The Parliamentary Under-Secretary of State for Education

The Government considered a range of proposals on how to make finance education compulsory in the national curriculum. With regard to the primary school curriculum, our assessment was that children should focus on mastering arithmetic, including arithmetic with money and percentages, so they have the necessary foundations to be taught financial literacy as part of the citizenship curriculum from ages 11 to 16.

We are also planning to strengthen the secondary curriculum and GCSE qualification in mathematics so young people will understand concepts such as compound interest, which will enable them to make sound financial decisions.

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