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Place of financial education in the school curriculum

Financial literacy education became part of the National Curriculum for the first time in September 2014, as part of citizenship education in key stages three and four (ages around 11-16).  This required it to be taught in local authority maintained schools.  Academies and free schools do not have to follow the National Curriculum, but in practice, many do.

In addition, the new mathematics curriculum is intended to ensure that young people leave school with an understanding of the skills needed for personal finance.

Enterprise education and the role of PSHE

Enterprise education is not part of the National Curriculum. However, financial and enterprise education can also be taught as part of non-statutory Personal, Social, Health and Economic education (PSHE).

Although reformed relationships and health education is now mandatory for primary schools, and relationships, sex and health education at secondary level, aspects of PSHE that fall outside of this remain non-statutory.

Reviews of current provision and calls for change

The note also provides information about reviews of the teaching of financial and enterprise education in schools, by Ofsted and others, and details of pressure to strengthen the position of financial and enterprise education in different parts of the curriculum.

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