Making financial inclusion a top political priority in the UK

THE FACTS

Financial exclusion remains a significant challenge for 21st century Britain which prides itself on being a global leader in financial services. 

28%

of adults or 14 million people have experienced a direct negative effect on their income due to the coronavirus pandemic (as of May 2020)

12.5 million

UK adults have little or no confidence in their ability to manage money

22%

of all adults in the UK have less than £100 in savings

1 in 5

adults would not be able to cover more than one month of living expenses if they lost their source of income

1 million

people in the UK do not have a bank account

16%

are borrowing to pay for essentials because they have run out of money

WHO WE ARE

We are an independent body of experts from financial services, businesses, the charity sector, academia and parliamentarians from all major parties.

We want a financially inclusive UK where financial services are accessible, easy to use and meet people’s needs over their lifetime, and where everyone has the skills and motivation to use them.

We provide leadership to improve the state of the nation’s financial wellbeing, championing financial inclusion as a public policy priority for public bodies, businesses, and civil society and challenge exclusion wherever it occurs.

We convene, understand and influence through assembling a coalition for change, gathering evidence, and creating and championing practical policies to achieve change.

About us

OUR LATEST STRATEGY, RESEARCH & CONSULTATION RESPONSES

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CONSULTATION RESPONSES
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LATEST NEWS

Covid-19 and small business: A discussion paper

Today, the Financial Inclusion Commission, in collaboration with Money Advice Trust, have launched a paper focusing on the problems faced by small businesses which have been accelerated by the coronavirus pandemic.

The coronavirus pandemic has served to accelerate the problems faced by small businesses: getting insurance for income continuity; accessing affordable credit; digital access; late payments and payment deferrals. Small businesses are operating in a more uncertain economic landscape.

Urgent intervention is needed to assist this hugely important sector of the UK economy to recover, innovate, create jobs and employment, and rebuild in a financially resilient way.

You can find the paper here.

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