Select committee: Education Committee
Recommendation 14
Third Report - Delivering effective financial education
Published 22 May 2024
Paragraph 54
Addressed to Department for Education
Education Committee Financial Education All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Recommendation (the committee's words)
There is no shortage of financial education teaching materials, yet the evidence tells us that these materials are often unsuitable, the sheer quantity is unhelpful to teachers looking for appropriate resources and that, consequently, they are not being utilised in schools. Whilst it is right that schools should be able to determine which materials they use to teach financial education and that the Government should not prescribe which books and resources ought to be used in schools, we believe that the Department can and should make the process of finding and selecting high-quality financial education teaching materials easier for teachers.
From: Education Committee, Third Report - Delivering effective financial education (HC 265), paragraph 54, 22 May 2024
Government response
The government responded to the whole report on 16 January 2025 (deadline 22 July 2024).
Summary written by Accountability Index from the government's response. It is not the government's own words.The government says it will "consider" the report's findings "carefully", states that it agrees on teacher supply and teacher support, and leaves curriculum decisions to the Curriculum and Assessment Review.
- On more financial content in the maths curriculum, the government "notes" the recommendation and says it "will consider further" the support available to schools "in the light of the CAR outcomes".
- Oak National Academy is "expected" to make additional lessons on financial education and applying maths available "from spring 2025".
- On financial education leads, the government says schools are "free to designate a teacher" and that it "currently has no plans" to produce guidance on appointing or supporting them.
- On the PISA financial literacy assessment, the government says it is not offered in the 2025 cycle, but the Department "will consider participation" in the 2029 cycle "after mid-2026".