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Financial Services: Education

Department for Education written question – answered on 24th June 2020.

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Photo of Emma Hardy Emma Hardy Shadow Minister (Education)

To ask the Secretary of State for Education, with reference to the effect of the covid-19 outbreak on access to education, what steps he is taking to ensure that children are provided with the skills to (a) manage money effectively and (b) prepare them for making future financial decisions.

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

Financial education is taught within the national curriculum in maths and citizenship. The Department will continue to work closely with The Money and Pension Service and HM Treasury to consider how we can further support the teaching of financial education in schools.

At present, due to the unprecedented challenges for schools caused by COVID-19, the Government understands that schools will need flexibility around the education they are providing to their pupils, both at home and at school. We expect schools and teachers to use their professional judgement, and knowledge of their pupils’ educational needs and home circumstances, to plan appropriate content that enables education to continue.

These are rapidly developing circumstances; we continue to keep the situation under review and will keep Parliament updated accordingly.

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