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Financial and enterprise education in schools

Published Thursday, December 11, 2014

This note provides an outline of current arrangements relating to financial and enterprise education in schools. It covers England only.

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This note provides an outline of current arrangements relating to financial and enterprise education in schools. It covers England only.

Under the National Curriculum programmes of study taught in local authority maintained schools from September 2014, financial literacy education is statutory for the first time, as part of citizenship education in key stages 3 and 4 (ages 11-16). 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 Government announced in March 2013 that it would remain a non-statutory subject and that no new programmes of study would be published. 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. Prior to the current Government’s reviews of the National Curriculum and PSHE, there were calls for financial education to become compulsory and for PSHE to become a statutory requirement. Section three of the note gives further details of these developments. Section four briefly details developments under the previous Labour Government.

Commons Briefing papers SN06156

Author: David Foster

Topic: Schools

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