Financial Services: Education

Department for Education written question – answered am ar 8 Ebrill 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Lord Cruddas Lord Cruddas Ceidwadwyr

To ask His Majesty's Government, further to the Written Answer by Baroness Barran on 19 February (HL2185), whether they plan to undertake a detailed review of the teaching of financial literacy in Denmark, Norway and Sweden with a view to updating the mathematics national curriculum.

Photo of Baroness Barran Baroness Barran The Parliamentary Under-Secretary of State for Education, Lords Spokesperson (Equalities)

The department has no plans to undertake a detailed review of the teaching of financial literacy in Denmark, Norway and Sweden. The department continues to work closely with HM Treasury and the Money and Pensions Service to monitor the evidence base for financial education to understand what works and what further support schools may need.

In order to provide stability for schools and to enable them to remain focused on raising standards of literacy and numeracy and recovery from the pandemic, the government has committed to making no changes to the national curriculum for the remainder of the Parliament.

The current mathematics curriculum in England already provides young people with the mathematical knowledge that underpins their ability to make important financial decisions. Mathematics is compulsory in maintained schools and academies must teach a broad and balanced curriculum, including mathematics. Since 2014, the department has reformed the mathematics curriculum and examinations system, bringing teaching practice from high-performing jurisdictions from across East Asia to primary and secondary schools in England.

International comparison studies of school-aged pupils show that England performs above the international averages for mathematics for all age groups. Before the pandemic, England achieved its highest ever mathematics score in the 2019 Trends in International Mathematics and Science Study international test for year five pupils.

Ofsted’s latest mathematical subject report in 2023 stated that primary mathematics education has seen "a resounding, positive shift" with curriculum sitting "at the heart of leaders' decisions and actions", whilst secondary mathematics education has seen "notable improvements" in curriculum guidance and professional development.

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