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Fiona celebrates success of bid to teach money skills in schools
FIONA Bruce MP, who has been calling for more emphasis to be placed on finance in education, is celebrating after a campaign breakthrough.
The Department of Education recently announced that the revised National Curriculum, which is due to be implemented in all maintained schools in England from September 2014, will include financial education in mathematics and citizenship, making the topic statutory for the first time.
The announcement is the culmination of more than a year’s work by the All-Party Parliamentary Group on financial education for young people.
Mrs Bruce, vice-chairman of the group, said: “This is such a success for the campaign, and I am sure this will make a really positive impact on the futures of our young people.
“Generations of young people will now gain the knowledge and skills they need to be able to manage their finances.
“This will make a real and lasting difference to their home and business lives individually and to the financial capability of our country overall.”
In citizenship 11 to 16-year-olds will learn the functions and uses of money, the importance and practice of budgeting, credit and debit, insurance, savings and pensions and how public money is raised and spent.
In maths there will be a renewed emphasis on financial mathematics, enabling young people to calculate interest rates and the actual cost of borrowing.
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