Responding to a new report from the education committee on financial education in schools, Sarah Hannafin, head of policy at school leaders’ union NAHT, who gave evidence to the committee inquiry, said:

“Schools want to provide the children with a broad and balanced curriculum which prepares them for the opportunities and responsibilities of adulthood.

“Financial education is a crucial part of that as it can help protect children from the harm caused by everything from gambling and scams to in-game purchases and online exploitation. Financial wellbeing is also vital in supporting children and young people’s mental health.

“However, it can already be challenging for schools to cover the National Curriculum and qualification specifications in the time available, and this is exacerbated by government policies and high stakes accountability measures focusing on particular subjects.

“While we welcome the recommendations for improved training for teachers and support to access high-quality learning resources, any expansion of financial education in the ways suggested must be accompanied by a formal review of the curriculum and qualification offer. Currently the curriculum is overcrowded and unmanageable – the content must be reduced to create the curriculum time needed to deliver this.”