Former prime minister Rishi Sunak has argued that pupils are never taught financial literacy, leaving them unprepared for life outside school. While Sunak is correct to highlight this gap, his proposed solution—compulsory mathematics until age 18—misses the mark. For most people, numeracy begins and ends with arithmetic, which is essential for handling money, percentages, and interest rates. But algebra, calculus, and quadratic equations are unnecessary for the vast majority.
Sunak’s numeracy project aims to teach children how to handle money, a skill in which Britons lag behind Germany and other countries. However, his obsession with maths ignores the broader need for practical education. Schools should teach financial literacy as a core subject, not an extracurricular add-on. Handling money means understanding the world of work, insurance, pensions, and taxes—skills that are vital for survival in modern society.
The current education system is failing to prepare young people for the real world. Both Sunak and former health secretary Alan Milburn have noted that schools and universities turn out leavers who are hopelessly unready for employment. GCSEs and A-levels remain overly academic, with exams that measure little beyond memory. The curriculum needs reform to include three fundamental pillars: health and mental wellbeing, community and civic responsibility, and financial and work skills.
Financial ignorance is the fastest route to poverty. Teaching young people how to handle money should be compulsory, just like reading, writing, and arithmetic. It is not about maths but about the glue that binds individuals to the economy—incomes, taxes, insurance, and pensions. These subjects should be at the heart of a liberal education, preparing students for life whether or not they go on to university.
