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Every pupil in Scotland will be taught the key personal finance skills they need to be successful in the future, it was announced today.

Cabinet Secretary for Education Fiona Hyslop today visited Gylemuir Primary School in Edinburgh to see a financial education lesson in practice.

Research published today by the Scottish Government into the range and effectiveness of financial education across the country, found that while many schools have 'excellent practices in place, provision for pupils is variable'.

Ms Hyslop has asked Learning and Teaching Scotland (LTS) to create a partnership team to address the research report's recommendations and to produce a delivery plan that will drive forward financial education improvements. The Cabinet Secretary said the plan will ensure good quality financial education is delivered to every pupil in every school in Scotland through the new numeracy curriculum.

Ms Hyslop said:

"Ensuring our young people have a strong understanding of financial and money management skills is critical - particularly at this time of 'credit crunch' economic uncertainty and change. That's why we are now moving to ensure the new curriculum gives every pupil the personal finance skills they need to prosper.

"The research published today demonstrates that many schools provide very effective financial education for pupils and that a wide number of organisations - in both the public and private sectors - are offering support to schools.

"But that is not good enough. We need to make sure that no child misses out and every school in Scotland offers the high quality financial education our young people need.

"We must ensure that every school can tap in to the vast range of support available and that teachers have the confidence, the tools and the support they need to provide effective learning in this important subject."

Bernard McLeary, Chief Executive of Learning and Teaching Scotland (LTS), said:

"The development of financial capability in our young people has never been more important than it is today. Numeracy is a vital skill underpinning financial understanding and competence and this is recognised as a key aspect of Curriculum for Excellence.

"Learning and Teaching Scotland will work with a range of partners to establish a delivery plan for financial education linked to numeracy developments in the context of Curriculum for Excellence. The delivery plan will support schools by providing a planned, coherent programme of financial education from early years to 18."

A working group of numeracy specialists is now being set up by LTS to take forward the delivery plan for financial education with teacher and financial services industry representatives.

The delivery plan will set out how financial education can be embedded through a continuous focus on numeracy skills; the new teaching resources required; and improvements to the advice and support available for young people.

The Evaluation of Financial Education in Scottish Schools research was carried out in 2008. The research found that:

• A large majority of schools (86 per cent) responding to the survey reported that they deliver financial education, across various subject areas and pupil ages
• There is a wide range of providers and resources helping schools deliver financial education, however some schools and teachers are unaware of this support
• Some teachers lack confidence to teach financial education and greater priority needs to be given to tailored teacher development
• Secondary schools place less focus on providing financial education than primary or special schools
• Financial education can be delivered in a 'piecemeal' fashion by different school departments and is often not regarded as a stand alone topic

It recommends that Curriculum for Excellence is used as the platform to embed personal finance within the curriculum; that financial education is made more meaningful through the use of real life scenarios; that new technology - such as the schools intranet Glow - is taken advantage of; and that teachers are given more financial education CPD opportunities.

Curriculum for Excellence will help young people understand how to manage budgets, learning about affordability and develop money management skills. Financial education currently takes place within a number of subjects, including maths, personal and social education, environmental studies, business education and home economics.

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