HC Deb 04 November 2003 vol 412 cc586-7W
Mr. Sheerman

To ask the Secretary of State for Education and Skills what steps he will take to increase the level of financial literacy. [135757]

Mr. Miliband

Some aspects of financial literacy are covered within the new Citizenship curriculum, which is already compulsory in secondary schools. For example, 14 to 16-year-old pupils should be taught about how the economy functions, including the role of business and financial services. The non-statutory framework for Personal, Social and Health Education, provides for personal finance education to be taught to all age groups, allowing teachers to cover the wide range of topics as set out in the Department's "Financial Capability through Personal Financial Education" guidance for schools.

From 2005/6 a new £60 million Enterprise Education entitlement will provide all Key Stage 4 pupils with the equivalent of five days' enterprise activity which will develop enterprise capability—including personal financial capability as well as business understanding. 151 Pathfinder projects in nearly 400 secondary schools were approved for September 2003 start. They will help DfES to develop additional guidance including case studies and lesson plans related to financial literacy, including advice from the Financial Services Authority and financial institutions.