2nd Report – Financial Inclusion Strategy
Select Committee
Treasury Committee
HC 13
14 July 2026
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Recommendations & Conclusions
12 results
1
Conclusion
The publication of the Financial Inclusion Strategy is welcome.
Conclusion
The publication of the Financial Inclusion Strategy is welcome. It identifies many of the areas in which people experience financial exclusion. Informed witnesses broadly supported those areas of focus. Unlike HM Treasury’s 2004 publication, however, the Strategy does not yet …
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2
Conclusion
HM Treasury should, within six months, publish a fuller quantitative analysis of the scale, causes...
Conclusion
HM Treasury should, within six months, publish a fuller quantitative analysis of the scale, causes and distribution of financial exclusion in the UK. Drawing on existing sources, including the FCA’s Financial Lives Survey, this should identify who is excluded, where …
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HM Treasury
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3
Conclusion
We welcome the government’s commitment to review progress against the Strategy at the two-year mark.
Conclusion
We welcome the government’s commitment to review progress against the Strategy at the two-year mark. However, a two-year review without published baselines and milestones will not inform Parliament to judge whether the Strategy is on track. Reporting that working groups …
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4
Conclusion
The Economic Secretary told us that she was responsible for delivery of the Strategy and...
Conclusion
The Economic Secretary told us that she was responsible for delivery of the Strategy and would be happy to discuss its progress with the Treasury Committee. Although we would welcome such updates, they cannot substitute for a published implementation and …
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5
Conclusion
HM Treasury must publish within six months an implementation and accountability framework for the Financial...
Conclusion
HM Treasury must publish within six months an implementation and accountability framework for the Financial Inclusion Strategy. Before publication, HM Treasury must agree with the Treasury Committee the core information to be included. The framework should include baselines, measurable targets, …
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6
Conclusion
HM Treasury and the FCA should also develop proportionate firm-level financial inclusion metrics.
Conclusion
HM Treasury and the FCA should also develop proportionate firm-level financial inclusion metrics. These should focus on the largest providers and on markets where exclusion causes the greatest consumer harm, such as contents insurance, affordable credit and access to basic …
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7
Conclusion
Voluntary action and pilots can help test solutions, but they cannot be the main driver...
Conclusion
Voluntary action and pilots can help test solutions, but they cannot be the main driver of a national financial inclusion strategy unless there are clear routes to scale and clear consequences if voluntary action fails. This is especially important where …
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8
Conclusion
The government may be right to begin with partnerships pilots and working groups, but it...
Conclusion
The government may be right to begin with partnerships pilots and working groups, but it should be clear from the outset what would count as insufficient progress and what further action it would then take. It should not wait until …
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9
Recommendation
Where delivery depends on voluntary industry action, HM Treasury should set out clear triggers for...
Recommendation
Where delivery depends on voluntary industry action, HM Treasury should set out clear triggers for further intervention. It should also explain what evidence or level of consumer harm would be needed before existing reserve powers, including those on access to …
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10
Recommendation
HM Treasury should publish a pilot-to-scale plan for the Financial Inclusion Strategy in the next...
Recommendation
HM Treasury should publish a pilot-to-scale plan for the Financial Inclusion Strategy in the next six months. For each pilot, working group or exploratory programme, this should set out success criteria, evaluation methods, funding routes, decision points and the action …
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11
Conclusion
The government rightly included consumer and lived-experience voices in the development of the Strategy.
Conclusion
The government rightly included consumer and lived-experience voices in the development of the Strategy. However, the process did not sufficiently guard against industry voices carrying greater influence, particularly in sub-committees and implementation discussions. Evidence that the main Committee met only …
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12
Recommendation
HM Treasury should strengthen the governance of the Financial Inclusion Committee, its sub-committees and any...
Recommendation
HM Treasury should strengthen the governance of the Financial Inclusion Committee, its sub-committees and any implementation groups. For sub- committees and implementation groups, HM Treasury should publish membership, terms of reference and meeting frequency. It should ensure that consumer, civil …
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HM Treasury
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