Financial Services: Adult Education
The question
To ask the Secretary of State for Education, what plans her Department has for improving provision of financial education as part of the adult education curriculum.
Answered by Josh MacAlister
The essential skills entitlements, funded through the adult skills fund (ASF), support adults without a GCSE maths grade 4 or higher, or equivalent qualification, or are assessed at working below this level, to undertake a range of free courses including maths GCSEs and functional skills qualifications.
As part of the ASF, Tailored Learning funding can also be used to fund provision supporting learners to address specific needs such as financial education.
Currently, approximately 68% of the ASF is devolved to 12 strategic authorities and delegated to the Mayor of London acting through the Greater London Authority. These authorities are responsible for the provision of adult education and allocation of the ASF in their local areas.
The Department for Work and Pensions is responsible for the remaining ASF in non-devolved areas where colleges and training providers have the freedom and flexibility to determine how they use their ASF to meet the needs of their communities.
Alongside, there is a range of apprenticeships available which provide training in occupationally specific financial knowledge and skills, for example, in payroll, investment or financial services-related roles. We also continue to fund apprentices to secure up to a L2 maths qualification as part of their apprenticeship.
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