The Advanced British Standard proposals were published under the previous administration. The CAR will seek to ensure all young people aged 16 to 19 have access to rigorous and high-value qualifications and training pathways that will give them the skills they need to thrive in the future. There is already a range of financial education qualifications available for 16 to 19 year-old students to study. This includes qualifications and courses at levels 1 and 2 for lower attaining GCSE students to support their financial literacy, as well as new qualifications at level 3, such as the T Level in Finance for those wishing to pursue a career in the industry. Gaining level 2 skills in maths and English gives students the opportunity to progress in life, learning and work. However, around one third of 16-year-olds do not achieve this by the time they leave year 11. To support these students to progress, students on a 16 to 19 study programme, who have not attained a level 2 qualification in their maths at 16, are required to continue studying maths. Updates to the maths and English condition of funding have been announced to enable all students to access support that leads to the best outcomes for them. For the 2024 to 2025 academic year, this requires 4 hours of maths teaching a week. This teaching should be in-person, whole class and stand-alone. For this academic year, the requirements are ‘best efforts’ where we are asking providers to make all reasonable efforts to comply with the changes but will not be measuring compliance. From the 2025 to 2026 academic year, the maths and English condition of funding will require providers to offer these students 100 hours of maths teaching. This should be delivered as in person, whole class, stand-alone teaching. As planned, compliance against these requirements will be measured. We also encourage providers to offer an extra 35 hours of maths teaching in the 2025 to 2026 academic year, continuing their best efforts in delivering these. This is in addition to the minimum planned teaching hours and equates to an extra hour of maths teaching each week for full time students. Since the 2019 to 2020 academic year, students with a GCSE grade 2 or below have been able to study towards either level 2 Functional Skills or GCSE grade 9 to 4. This allows institutions and students with prior attainment of GCSE grade 2 and below to choose which level 2 qualification is most appropriate. ‘Stepping stone’ qualifications at level 1 and below are also available for students who have achieved a grade 2 or below where they are not yet ready to continue studying at level 2. Students with a prior attainment of a GCSE grade 3 in either subject must continue to study towards a GCSE grade 9 to 4. Functional Skills Qualifications (FSQ) are designed to give students the skills needed for everyday life and work. The FSQ maths subject content covers elements of personal finance explicitly, e.g. students at level 1 are expected to be able to calculate simple interest and students at level 2 are expected to be able to calculate amounts of money, compound interest, and discounts including tax and simple budgeting. FSQ also delivers the wider maths skills needed for personal finance, which teachers can contextualise in their teaching. High quality teaching is the biggest in-school and college factor that makes a difference to young people’s outcomes, but there are shortages of qualified teachers across the country. This is why we will recruit an additional 6,500 new expert teachers across our schools, both mainstream and specialist, and our colleges over the course of this Parliament. Our measures will include getting more teachers into shortage subjects, supporting areas that face recruitment challenges and tackling retention issues.