Financial Services: Education

Department for Education written question – answered on 20th October 2014.

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Photo of Mike Hancock Mike Hancock Independent, Portsmouth South

To ask the Secretary of State for Education, what assessment she has made of the link between financial education in schools and sustainable and responsible investment practices.

Photo of Nick Gibb Nick Gibb Minister of State (Education)

While we have not made a formal assessment of the link between financial education and sustainable and responsible investment practices, our decision that personal financial education should be included in the citizenship national curriculum for key stage 3 and 4 is designed to help pupils manage their money. OECD research concluded that the new national curriculum meets all of the building blocks they recommend for a sound financial education in schools. Through this aspect of the curriculum pupils should develop their knowledge and skills so they can make sound financial decisions and take their place in society as responsible citizens.

At key stage 3, pupils should be taught about the functions and uses of money, the importance and practice of budgeting, and managing risk. At key stage 4, pupils should be taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.

Does this answer the above question?

Yes2 people think so

No1 person thinks not

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