Proposed Financial Literacy Education Measure

Pre-ballot Information

Lorraine Barrett

Policy Objectives of the Proposed Measure

1. To introduce a subject focussing on financial literacy and budget management as a compulsory component of GCSE level, or equivalent, education for every pupil studying in Wales.

The overall purpose of this measure is to prepare pupils for working life and its associated financial responsibilities - or for better financial management while undertaking further and higher education courses.

The subject will focus on budget management, including topics such as: employment, payslips and taxation; mortgages, loans and interest rates; banks, saving accounts and pensions; debt and utility bills; and financial matters relating to further education and training.

This subject, although compulsory, will not be accredited or tested. Based on attendance registers pupils will receive a pass certificate upon completion.

This subject is intended to form part of a pupil’s all round personal development while in the final years of compulsory education, and will not affect the study time allocated to core subjects.

Notes:

This Assembly Measure is to be made under Matter 5.4

Support received/Consultation

2. None