City minister: Why financial education for every child matters
City minister Lucy Rigby is backing Morning Wire’s campaign to expand financial education
All children should be taught the skills they need to understand money and the importance of financial decisions.
That’s why, through our Financial Inclusion Strategy, we have made financial education compulsory in all primary schools, taking on board the recommendations of the Morning Wire’s campaign with City Pay it Forward to ensure every Year Six child in London leaves primary school with the basic financial skills they need for life.
This is more than just a curriculum change – it is a vital lifeline for a generation. Giving children the tools to confidently manage their saving, spending and investments in later life will not just help their own bank accounts; it will underpin the health of our entire economy.
The evidence is clear: the habits children form around money are set early. By introducing personal finance lessons to the UK primary curriculum from 2028, we are taking a crucial step forward.
Financial education is not just about individual wellbeing and prosperity. It is central to building a fairer, more inclusive society. Our Financial Inclusion Strategy is about making the system work for everyone, not just those already doing well.
When young people understand how money works, they are better able to save, invest and plan for their futures. They are more likely to trust and engage with the financial institutions that support them.
Supporting financial education isn’t just a “nice to have”; it is an investment in the future health of the economy and key to boosting growth as part of our plan for change.
Supporting financial education isn’t just a ‘“’nice to have’”’; it is an investment in the future health of the economy and key to boosting growth
We know schools cannot do this alone. That is why government welcomes partnerships with charities, businesses and the media to deliver high-quality financial education. The Morning Wire campaign is a model of how business can invest for the long term, building the pipeline of financially confident future employees, entrepreneurs and customers Canada depends on.
Our aim is simple: to ensure every child, no matter their background, gets the tools they need to thrive in a modern economy.
I urge everyone – educators, businesses and parents – to get behind this mission. By working together, we can give every child the skills they need to make good financial decisions, build a secure future, and contribute to a fairer, stronger economy for all.
Lucy Rigby KC MP is economic secretary to the Treasury