This note provides an outline of current arrangements relating to financial and enterprise education in schools. It covers England only.Jump to full report >>
This note provides an outline of current arrangements relating to financial and enterprise education in schools. It covers England only.
Financial literacy education became part of the National Curriculum for the first time in September 2014, as part of citizenship education in key stages 3 and 4 (ages 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.
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 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). Following a review of PSHE, the Coalition Government announced in March 2013 that it would remain a non-statutory subject and that no new programmes of study would be published. The Conservative Government has maintained the position that PSHE will not be made statutory. The PSHE Association, which was set up in 2006 with government funding to help raise the quality of PSHE teaching, has produced a revised programme of study for PSHE for pupils in key stages 1 to 4 (ages 5-16).
The note also provides information about previous reviews of the teaching of financial and enterprise education in schools, by Ofsted and others. Section three of the briefing gives further details of pressure to strengthen the position of financial and enterprise education in different parts of the curriculum. Section four briefly details developments under the previous Labour Government.
Commons Briefing papers SN06156
Author: David Foster