FIC welcomes the recent establishment of the HM Treasury's newly established Financial Inclusion Committee

FIC welcomes the recent establishment of the Treasury's newly established Financial Inclusion Committee and has written to each member congratulating them on their appointment and offering to provide any support they would find helpful.

We have also shared our recommendations, outlining in a new paper (here online) what we see as the five pillars of a National Financial Inclusion Strategy:

1. Expanding access to face-to-face banking services and cash, including sustainable Banking Hubs.
2. Improving access to affordable, well-regulated credit, supporting community lenders and innovation in credit scoring.
3. Promoting savings through workplace-based schemes, digital platforms, and incentives.
4. Enhancing access to affordable insurance to build household resilience against financial shocks.
5. Increasing access to free debt advice and money guidance.

Financial inclusion drives economic growth by enabling more people to work, increasing productivity, supporting small businesses, and reducing public spending pressures. We look forward to collaborating with the Committee to make financial services accessible and supportive for all.