Study finds 2.1 million children are likely to be at greater risk of low number confidence due to parents’ challenges with numbers

A new report from Barclays, commissioned in partnership with independent charity, National Numeracy, reveals that 2.1 million children across the UK are likely to be at risk of low number confidence due to the ripple effect from their parents and carers.

The report, Nurturing Number Confidence: The role of public policy in building number confidence between the generations, explores the intergenerational link between parents' and children's number confidence. It found that 16 per cent of parents reported low confidence – amounting to 2.1 million children with at least one parent with low number confidence. 

A lack of number confidence is known to have negative knock-on effects on people's earnings, employment and ability to manage their money. 

Research by National Numeracy shows that nearly one in five people (18 per cent) avoid applying for a job or qualification because it, or the interview process, involves maths. Furthermore, low number confidence is associated with lower actual mathematical skill levels, which in turn are linked to lower earnings in the workplace*. 

Further research from Barclays shows that half of Brits recognise that areas of their money management would improve if their number skills were stronger. According to Pro Bono Economics, low number confidence could be costing the UK economy up to £25bn per year. 

Of those parents who reported low number confidence, 49 per cent cite helping their children as a driver to improve their own skills. Of the activity that builds number confidence in parents, explaining the application of maths in everyday life to their children is the most influential, and increases the number confidence of children too. 

The Government recently announced its Curriculum Review which will make financial literacy education compulsory for both primary and secondary school pupils. This marks a significant step forward towards a more financially and number confident nation. However, Barclays and National Numeracy believe the Government can go further by adopting a series of recommendations to nurture number confident communities and to build on what is already taught in schools:

• The government should have a policy of parity between the way that literacy and numeracy are promoted to include a National Year of Numeracy to follow in due course the 2026 National Year of Reading. 
• Government-funded curriculum providers of mathematical classroom content should be additionally resourced to create complementary digital tools for parents and carers to support their child's learning including through building their own number confidence.
• Non-statutory guidance from government to schools should outline best practice for building number-confident wider school communities. 

Vim Maru, CEO of Barclays UK said, "Confidence with numbers is the bedrock of financial confidence. Our report shows how parents' low number confidence ripples through to their children, but also how teaching kids can boost parents' own skills. Getting this intergenerational exchange right is key to building number confident communities.

"We're encouraging government to build on what is already taught in schools and bring parity between how literacy and numeracy are supported at home, develop digital resources to support parents when needed and extend guidance so schools can foster number confidence beyond the classroom."

Sam Sims, CEO of National Numeracy said, "Number confidence influences so much of our lives, from how comfortable we feel managing money to the choices we make about work, learning and opportunities. This report shows the powerful intergenerational impact of number confidence: when parents and carers lack confidence with numbers, it can inadvertently hold children back too. But it also highlights a real opportunity. Supporting adults to build their number confidence can have a lasting positive effect across generations and on the whole family. That is why, working with Barclays, we are calling on the Government to bring parity between how literacy and numeracy are supported at home, and to back the tools and guidance that parents, carers and schools need to build number confident communities."

The report is part of the ongoing partnership between Barclays LifeSkills and National Numeracy through which they are working together to boost the UK's number confidence. This includes supporting communities where the need for number skills is the greatest by training up a Numeracy Champion in more than 60 primary schools in communities across the UK, with the aim of reaching over 13,000 children, parents, carers and staff.

Alongside this, Barclays LifeSkills has created dedicated resources to support all ages with their number skills.

Read the full Barclays report created by Barclays' Group Policy Development team, Nurturing Number Confidence, here. Barclays' Group Policy Development team creates public policy thought leadership content on behalf of Barclays. The work draws on the Bank's expertise, data and insights, and is intended to inform the design and application of public policy solutions in response to pressing economic and societal challenges.