Financial Literacy

HC Deb 04 May 2000 vol 349 cc193-5W

Mr. McCabe

To ask the Secretary of State for Education and Employment what steps he is taking to improve levels of financial literacy. [119623]

Jacqui Smith

Financial capability is part of the new national guidelines for Personal, Social and Health Education which were issued to schools last year and come into effect this autumn. From the start of the school year 2002, secondary school pupils will also learn about the rights and responsibilities of consumers, employees and employers as part of Citizenship in the National Curriculum. This will be complemented by the work of the Adult Financial Literacy Advisory Group, set up to identify good ideas and existing best practice to give adults the skills and confidence to handle their finances.