To ask the Chancellor of the Exchequer what discussions he has had with (a) the Department of Children, Schools and Families and (b) Ofsted on Ofsted’s evaluation of financial education as part of the preparation of the Joint Financial Capability Action Plan. (232383)

Ensuring that children have access to a planned and coherent programme of personal finance education in school is key to raising levels of financial capability in the UK. Studies by the Financial Services Authority (FSA) and Ofsted have shown that further support is required to improve the effectiveness of finance lessons in schools. The joint Government and FSA financial capability action plan, published in July, set out measures for supporting financial education through the Government’s ‘My Money’ programme led by DCSF, which will help to embed financial capability into the curriculum, and the FSA’s ‘Learning Money Matters’ programme. It also set out how financial education would be evaluated through a DCSF independent review and a further schools survey by the FSA.