Imagine a future where every child in England grows up understanding the value of money, the dangers of misinformation, and the urgency of climate change. Sounds like a dream, right? Well, it’s about to become a reality. Starting in September 2028, financial literacy will be a mandatory part of the curriculum for all primary and secondary school students in England. But here’s where it gets even more intriguing: this isn’t just about teaching kids how to count coins—it’s about equipping them with the skills to thrive in a rapidly changing world.
This groundbreaking move is part of the first major overhaul of England’s curriculum in over a decade, aimed at ensuring students leave school with not just academic knowledge, but essential life skills. Primary schoolchildren will learn the basics of money management, how to discern fake news, and the fundamentals of climate change as part of compulsory citizenship classes. And this is the part most people miss: these reforms are driven by real-world demands, like the surge in digital financial transactions among young people. Did you know that 71% of 7 to 17-year-olds make online purchases, often without adult supervision? It’s a stark reminder of why financial education is more critical than ever.
But here’s where it gets controversial: While businesses, MPs, and charities—including the Financial Times’ Financial Literacy and Inclusion Campaign—have long advocated for better financial education, some argue that an already 'overloaded' curriculum might overwhelm students further. The Francis review, led by Becky Francis, highlighted financial literacy as the top concern for parents and young people alike, driven by rising inflation and the digital transformation of finance. Yet, implementing these changes will require significant time and resources from schools, which are already stretched thin. Will this be a game-changer, or a missed opportunity?
The reforms don’t stop there. Alongside financial education, the government is introducing a new statutory reading test for 12 to 13-year-olds, overhauling school performance metrics, and revitalizing the national curriculum. Ministers have also committed to post-16 education reforms, including new qualifications for GCSE resits and vocational 'V-levels.' But with warnings about the impact of exam-heavy systems on students’ mental health, the question remains: Are we striking the right balance?
Beyond schools, the Treasury is launching a financial inclusion strategy to tackle systemic barriers. A pilot program with Shelter and major banks like Lloyds, NatWest, and HSBC is helping homeless individuals open bank accounts without a fixed address, a move that could transform their access to paid work. Additionally, plans are underway to work with credit rating firms to erase unfair credit scores for domestic abuse survivors. As Lucy Rigby, economic secretary to the Treasury, puts it, 'This plan is about opening doors.'
Now, here’s the question for you: Is this curriculum overhaul a step in the right direction, or are we risking overburdening students and schools? And how can we ensure these reforms truly empower young people to navigate the complexities of the modern world? Share your thoughts below—let’s spark a conversation!
