Tag: financial literacy

Bishop of St Albans asks about teaching of financial literacy in schools

The Bishop of St Albans received the following written answer on 17th April 2023:

The Lord Bishop of St Albans asked His Majesty’s Government what steps they are taking to promote financial literacy in schools.

Baroness Barran (Con): Education on financial matters helps to ensure that young people are prepared to manage their money well, make sound financial decisions and know where to seek further information when needed.

Finance education forms part of the citizenship National Curriculum, at Key Stages 3 and 4, but can be taught by all schools at all Key Stages. The subject covers the functions and uses of money, the importance of personal budgeting, money management, and managing financial risk. At secondary school, pupils are taught about income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.

Continue reading “Bishop of St Albans asks about teaching of financial literacy in schools”

Bishop of St Albans asks about investment education for young people

The Bishop of St Albans asked a question on whether the government was promoting education on finances and investments for young people on 20th December 2022, during a debate on the regulation of cryptocurrencies:

The Lord Bishop of St Albans: My Lords, following the collapse of FTX there is great concern at just how volatile this sector is. Many young people presume that, because it is called a currency, it is more stable than it really is. I am told that, if you go online, you will find young people talking about eye-watering amounts of money that they have made and others have lost. What are His Majesty’s Government doing to educate younger people about proper investment understanding, so that they are aware of the risks they are taking if they enter this market?

Continue reading “Bishop of St Albans asks about investment education for young people”

Caroline Spelman highlights Church schools works in teaching financial literacy

spelman170119cOn 19th June 2019 the Economic Secretary to the Treasury (John Glen) made a statement on supporting people in problem debt. The Second Church Estates Commissioner, Rt Hon Dame Caroline Spelman MP, asked a follow-up question:

Dame Caroline Spelman: I welcome this statement and the Government going beyond their original manifesto commitment. It gives me a chance to thank my citizens advice bureau, which has done fantastic work on debt rescheduling during my 22 years as an MP.

Does the Minister welcome the Church of England’s initiative to teach financial literacy in its primary schools, and would he encourage rolling out such an approach to prevention more widely?

Continue reading “Caroline Spelman highlights Church schools works in teaching financial literacy”