Submitted on Thursday 21st May 2020
Rejected on Thursday 30th July 2020
Current status: Rejected
Rejection code: already-happening (see below for details)
Basic financial education should be provided as part of the national curriculum
Many people reach adulthood with limited understanding of credit facilities, how to complete tax returns, how mortgages and fixed borrowings work and the risks involved, or how to maximise savings and interest. This can cause many to fall into financial difficulty through no fault of their own.
A basic financial education at secondary level would reduce the risk of young adults falling into financial difficulty. It would allow generations of individuals to make more educated and informed financial decisions and promote a greater quality of life for many. Giving individuals an understanding of items like credit score and savings accounts, (especially existing government incentives such as Help to Buy), at a young age would encourage behaviours that would benefit them into the future.
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The Government e-Petitions Team gave the following reason:
The national curriculum already states that secondary school students should be taught about the functions and uses of money, the importance and practice of budgeting, income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.
You can read the full national curriculum for key stages 3 and 4 here: assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/840002/Secondary_national_curriculum_corrected_PDF.pdf
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