Overview

This bill mandates the inclusion of financial literacy in England's national curriculum. It aims to equip students with the knowledge and skills to manage their personal finances effectively and interact confidently with financial services.

Description

The Financial Literacy (Curriculum) Bill requires the Secretary of State to include measures promoting financial literacy at all key stages of the national curriculum. This includes:

• Defining "financial literacy" to encompass the knowledge and understanding needed to effectively use financial services and manage personal finances.
• Integrating financial literacy into the Personal, Social and Health Education (PSHE) curriculum.
• Ensuring that PSHE teachers possess the necessary knowledge and experience to teach financial literacy.

Her Majesty’s Chief Inspector of Education, Children’s Services and Skills will report annually on the bill’s implementation and the uptake of financial literacy education.

Government Spending

The bill doesn't specify direct government spending figures. Costs will likely arise from curriculum development, teacher training, and assessment. No figures are available in the provided text.

Groups Affected

Groups affected include:

• Students in England: Will receive education in financial literacy, impacting their future financial decision-making.
• Teachers: Will need to adapt their teaching methods and potentially undertake additional training.
• Schools: May need to allocate resources for new teaching materials and teacher development.
• Her Majesty’s Chief Inspector of Education, Children’s Services and Skills: Will have additional reporting responsibilities.

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