§ Lord Taylor of Warwickasked Her Majesty's Government:
Why personal finance education, presently only an optional element of the national curriculum, should not be made compulsory. [HL4916]
§ The Parliamentary Under-Secretary of State, Department for Education and Skills (Baroness Ashton of Upholland)Some aspects of personal finance education and financial literacy are covered within the citizenship curriculum, which is compulsory in secondary schools. For example, at key stage 4(14–16 year olds) pupils should be taught about how the economy functions, including the role of business and financial services. The non-statutory national framework for personal, social and health education (PSHE), which provides for personal finance education to be taught throughout key stages 1 to 4, allows teachers the flexibility to cover the wide range of topics as set out in the department'sFinancial Capability through Personal Financial Education guidance for schools.