Laws that would have ensured pupils from five to 16 received a full financial education got lost in the ‘wash up’. An application is calling on the next government to bring it back.

At school the children are taught to add up and subtract(减法) but, extraordinarily, are not routinely shown how to open a bank account — let alone how to manage their finances in an increasingly complex and demanding world.

Today the parenting website Mumsnet and the consumer campaigner Martin Lewis have joined forces to launch an online application to make financial education a compulsory element of the school curriculum in England. Children from five to 16 should be taught about everything from pocket money to pensions, they say. And that was exactly the plan preserved in the Children, Schools and Families bill that was shelved by the government in the so-called “wash-up” earlier this month — the rush to legislation before parliament was dismissed. Consumer and parent groups believe financial education has always been one of the most frustrating omissions of the curriculum.

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