Financial Services: Disadvantaged
The question
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that the whole financial services sector is involved in the delivery of the Financial Inclusion Strategy.
Answered by Emma Reynolds
The development of the Financial Inclusion Strategy is being informed by a committee of industry and consumer representatives I chair, (including banks), ahead of its publication later this year. The strategy will examine the barriers consumers face and further action what more industry and Government can take in partnership to address them, including a focus on how to increase access to affordable credit. This workstream is being considered by a dedicated sub-committee which includes both financial services firms and consumer representative organisations.
Action to improve financial inclusion will require a joined-up approach across the Government, the financial services sector, and civil society. The Government is engaging extensively on this agenda to ensure the strategy is informed by a wide range of expertise and frontline perspectives.
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