Ministers should “urgently” review the maths curriculum to expand financial education and make it compulsory in RSHE lessons, MPs have said. The national curriculum was beefed up in 2014 to include more elements of financial literacy, particularly in maths. But the said schools found it hard to prioritise financial education beyond basic concepts and many teachers “lack confidence” in delivering its content. Committee chair Robin Walker said: “A decade since it was introduced with broad support, financial education in England needs an urgent update that takes account of how the schools sector, financial pressures on children and consumer habits have changed. “There is cross-party support for delivering financial education in schools but it hasn’t yet reached its full potential.” Here are the key recommendations… 1. Urgently review maths curriculum MPs urged government to 鈥渦rgently鈥� review the key stage 1 to 4 maths curriculum to expand 鈥渢he provision and relevance鈥� of financial education. This could be through a 鈥渕odel curriculum鈥� approach, rather than a 鈥渞e-drawing鈥� of the national curriculum, they added. For example, more financial content 鈥渂ased on real-life, problem solving activities鈥� should be included in the secondary curriculum. 2. Make financial education compulsory The children and social work Act 2017 made it compulsory to teach primary school pupils relationships education and for secondary school pupils to receive relationships and sex education.聽Health education was subsequently added. But the government did not include the economic elements of PSHE within these reforms. In 2018, then education secretary Damian Hinds said it was already taught in maths and citizenship lessons, adding: 鈥淚 do not consider that further economic education needs be made compulsory.” Martin Lewis: Financial education curriculum win ‘self-defeating’ as schools lack resources MPs said making the economic and financial elements of PSHE statutory would be a 鈥渟imple and effective way of expanding financial education at both levels and signalling the increased importance of the subject to all students鈥�.聽 3. Finance education leads at every school or MAT MPs recommend that each school or multi-academy trust should consider having a 鈥渇inancial education lead鈥�. They could be a maths, RSHE or citizenship teacher and coordinate financial education across the curriculum. The government should produce guidance for MATs, school leaders and teachers on how to do this. Ministers should also consider providing subject knowledge enhancement and continuing professional development to support the role. 4. DfE approved financial education resources The committee called for the DfE to curate and promote a selection of high quality financial education teaching materials which are easily accessible to teachers and pupils. DfE should work with subject associations, professional bodies, the Money and Pensions Service and other government departments. 5. Finance education in ITT MPs urged the DfE to ensure financial education training is available to all trainee teachers. This should be continued through professional development and SKEs in financial education. Financial education options should be included in the early career framework and national professional qualifications, they added. 6. Review how Ofsted inspects financial education The committee said Ofsted鈥檚 鈥渋nadequate evaluation鈥� of financial education in schools 鈥渦ndermines the importance鈥� of it and 鈥渁dversely affects how it is viewed and prioritised by teachers and school leaders. 鈥淐itizenship in particular is not being appropriately assessed by Ofsted,鈥� they said. 鈥淚nspection under the personal development judgement alone is not the right accountability measure for a subject as important as citizenship and the financial education content it includes. 鈥淐itizenship should be evaluated by Ofsted as part of its quality of education key judgement in addition to personal development.鈥� MPs said the DfE should work with Ofsted to 鈥渞eview how it can improve its evaluation of financial education鈥�. 7. Participate in financial education PISA The OECD鈥檚 international PISA assessments of education performance include an assessment of financial education. But England and each of the UK nations have opted out of this. The DfE told MPs it was to reduce the burden on teachers and that participation in maths PISA was sufficient. But MPs want government to apply to take part for 2025 as it would 鈥渄emonstrate government鈥檚 commitment to improving financial education in England and give the subject more prominence鈥�.