MATHS YEAR 2000 - CHILDREN GET MONEY MANAGEMENT TIPS FROM THE CHANCELLOR

Five schoolchildren took a peek into the Chancellor Gordon Brown's red box today. The trip to the Treasury was part of Maths Year 2000 - the Government's drive to turn round attitudes towards maths and boost numeracy standards across the country.

Five children from Westminster RC School in London met the Chancellor and discussed the importance of money management, got tips on prudent management of pocket money and were reminded of the importance of regular saving.

The visit forms a key part of the Maths Year 2000 agenda and aims to highlight the importance of financial education from the earliest age. Around 40% of adults have some numeracy problems. One in four adults cannot work out change from simple transactions and nearly one in ten households have no bank or building society account.

Maths Year 2000 will play an important role in raising awareness around the importance of basic numeracy in everyday life and the devastating effects that can result from numerical illiteracy.

Personal finance education will be included in the PHSE framework from this September and will ensure that in each of the four Key Stages pupils will be taught about personal finance.

NOTES TO EDITORS

Pooled pictures of the Chancellor meeting the schoolchildren are available - still photographs from Press Association and broadcast pictures from Sky News.

Maths Year 2000 underpins the National Numeracy Strategy and was launched earlier this year by the Prime Minister Tony Blair, Education and Employment Secretary, David Blunkett and TV presenters Carol Voderman and Johnny Ball.

The National Numeracy Strategy is a national programme of action to ensure that the Government's target of 75% of 11 year olds reaching the expected standard for their age in maths by 2002 is achieved.

The National Numeracy Strategy includes:

a daily maths lesson;
whole class interactive teaching;
more emphasis on mental arithmetic, with the use of calculators limited to older pupils once mental strategies are secure; and
regular maths homework and support for parents.

As part of the PHSE framework, 5-7 year olds will be taught about the different sources of and uses for money. 7-11 year olds will learn about looking after money and saving. 11-14 year olds will learn what influences how we spend or save money, and how to become competent at managing personal money. 14-16 year olds will learn to use a range of financial tools and services, including budgeting and saving, in managing personal money.

Problems involving real life and money feature throughout the NNS Framework for teaching. For example, reception children should be taught to begin to understand and use the vocabulary related to money, begin to recognise coins and use them in role play. By the time pupils reach Year 6 they should be proficient in solving word problems involving money. Practical, everyday situations, for example, there is a 15% discount in a sale, what is the discount on £25?

For more information on Maths Year 2000 please contact the DFEE press office on 020 7925 5098.