LORDS

What can be done to help tackle financial exclusion?

22 July 2016

The Select Committee on Financial Exclusion has published its call for evidence. Interested parties are invited to submit written evidence to the Committee by 14 September 2016.

The Committee has been set-up to consider financial exclusion, which results in people having difficulty accessing or using the mainstream financial services that are necessary to participate in daily economic life and society.

Chairman's comment

Commenting, Baroness Tyler of Enfield, who chairs the Committee, said:

"Financial exclusion affects a large number of people in the UK, with estimates that 1.5 million people do not have access to a bank account and up to 40% of the population stating they did not feel in control of their finances. These are worrying numbers and this is an issue successive government have found difficult to tackle.

"Our inquiry will attempt to find a way forward. We will look at the role banks and others in the financial services industry can play in helping those who are currently excluded and we will examine the role of charities, Government and regulators. We will also look at the quality of financial education in the UK. Are we doing enough to ensure that children, young people and adults understand their finances and know where to seek help if they need it?

"For our inquiry to be effective we need to hear as many views and experiences as possible. Written evidence will play an important role in informing our work and I would encourage anyone with knowledge, or an interest in this area, to return a submission by 14 September."

The call for written evidence contains fourteen questions that the Committee wish to receive responses to. It can be found via the link towards the top of this page.

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Further information

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