Financial Services: Disadvantaged
The question
To ask the Chancellor of the Exchequer, when her Department plans to publish the National Financial Inclusion Strategy; and what (a) themes and (b) policy measures it will include to (i) address financial exclusion and (ii) improve people's financial resilience.
Answered by Lucy Rigby
The Government has committed to publish a national Financial Inclusion Strategy later this year to improve access to financial products and the financial resilience of underserved groups in the UK.
The strategy will address key barriers to financial inclusion, with a focus on: (i) digital inclusion and access to banking; (ii) savings; (iii) insurance; (iv) credit; (v) problem debt; and (vi) financial education and capability. Across these areas, the themes of accessibility, mental health, and economic abuse have also been considered in recognition of the particular challenges individuals can face in relation to these issues.
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