The Treasury has unveiled its Financial Inclusion strategy which will aim to bring a focus on building financial resilience for households most at risk of problem debt. The Financial Inclusion Committee’s mission is to tackle barriers to individuals and households’ ability to access affordable and appropriate financial products and services. The Treasury said its new…
Read more£6.4 billion per year could be added to the UK economy by improving financial inclusion, according to new economic modelling by WPI Economics, commissioned by Fair4All Finance, the not-for-profit financial inclusion organisation. The study shows that £5.9 billion could be raised annually from increased productivity and employment due to improved financial wellbeing. A further £110…
Read moreSupport for vulnerable people to access banking, build savings and improve financial resilience were part of discussions after Treasury Minister Tulip Siddiq hosted the first meeting of the new Financial Inclusion Committee. Made up of consumer groups and financial institutions, the focus is on tackling financial exclusion will discuss ways to provide individuals with poor…
Read morePeople in the UK are feeling significantly less financially included than they used to be, as the pressure of the cost of living crisis continues to weigh on the public according to research by Principal Financial Group. The proportion of people who feel financially included in the UK has dropped to 56% from 73% a year ago, as…
Read moreNew research by TotallyMoney and PwC has found that 10.7 million women are locked out of accessing mainstream financial products. The research also found that on average, women have a 10 point lower credit score than men, a gap that exists throughout their entire lifetime. Lenders are 16% less likely to provide women with pre-approved…
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