The Money Charity urges Citizenship rethink

The Money Charity has today added its name to a letter urging the Department for Education to make sure the Citizenship GCSE assesses students’ knowledge of financial education.

The letter, signed by our Chief Executive Michelle Highman and representatives from MyBnk, ifs University College, pfeg and the National Skills Academy for Financial Services, states the organisations are “deeply concerned” by the decision not to include personal finance in the final specification for the qualification, published last week.

Since September all maintained schools in England have been required to teach financial education, and the curriculum as a whole has an aim of ensuring pupils “are equipped with the skills to think critically and debate political questions, to enable them to manage their money on a day-to-day basis, and plan for future financial needs”.

But by not requiring this to be tested, the letter states, “the absence of financial education in examination will influence how the subject is taught and will likely permeate to the priority and depth of lessons given to students”.

It continues: “We urge the Department for Education to reconsider. A strong programme of financial education within the statutory curriculum is an important element of preparing young people for life in modern Britain. It is vital if we are to prevent the next generation taking on unsustainable debt, begin to make informed decisions and develop positive financial habits.”

Read the full letter here.