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Financial education to be compulsory in schools

Financial education to be compulsory in schools

Category: Money

Updated: 11/02/2013
First Published: 08/02/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The campaign to make financial education compulsory in schools across the country has finally come to fruition.

Yesterday, education secretary Michael Gove announced that financial education will form part of the national curriculum at the start of the next school year.

The new national curriculum proposal is still under consultation until April this year, but it is widely expected that the final version will include compulsory financial education.

Under the current plans, pupils in years 7 to 11 will be taught the fundamentals of finance during citizenship classes, while those in years 10 and 11 will also be taught about wages, taxes, credit, debt and financial risk.

"This is a huge victory for the campaign for financial education in schools," said the chief executive of the Personal Finance Education Charity, Tracey Bleakley.

"Financial education is essential in equipping young people with the knowledge, skills and confidence they need to be able to manage their money well.

"The campaign has been supported by teachers, parents, young people and more than 250 MPs and peers of all parties."

What next?

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