The current cost of living crisis is well documented, with around 2.5 million renters already behind or struggling to pay their rent and 15.3 million people, or 29% of the population, having already had to use credit to pay for essentials.

The Financial Inclusion Commission were extremely disappointed to see that the ‘mini-budget’ announced on 23 September 2022 was not only severely lacking in measures to tackle barriers to financial inclusion, but is in fact likely to contribute to increased financial exclusion in the UK.

The Commission urge the Government to implement measures to address spiralling financial exclusion without delay, including measures such as the uplift of benefits in line with inflation which will help households who most need it now.

Furthermore, there cannot be inclusive growth in the UK unless the Government introduce a ‘must have regard’ to financial inclusion for the FCA to ensure financial services and products are designed inclusively.

Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Consent to display content from Youtube
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound