Our inquiry into financial inclusion
5. This Report is the last of three Reports arising
from our broad inquiry into financial inclusion. The first Report
gave more detailed information about the conduct of our inquiry,
including evidence received and visits undertaken, and all of
the published evidence is also included with that Report.
That Report examined access to affordable credit, savings, insurance
and financial advice. The second Report covered access to banking
services, including progress in reducing the number of the "unbanked",
issues relating to the opening and operation of basic bank accounts
and the Post Office Card Account.
In this concluding Report we examine the role of the Government
and the FSA in promoting financial inclusion and improving financial
Structure of this Report
6. The next chapter of this Report examines financial
capability, including the progress with the national strategy
for financial capability and the extent to which that strategy
covers the needs of the financially excluded. We then examine
the overall role of the FSA in promoting financial inclusion.
Then, we look at the action the Government has taken to promote
financial inclusion, including establishing a Financial Inclusion
Taskforce, the provision of a £120 million Financial Inclusion
Fund and the role of local government and the devolved administrations.
In conclusion, we consider the Government's overall strategy and
the provision of resources for promoting financial inclusion in
the forthcoming Comprehensive Spending Review.
1 2004 Spending Review: New Public Spending Plans 2005-2008:
Stability, security and opportunity for all: Investing for Britain's
long-term future, HM Treasury, Cm 6237, July 2004, paras 5.24-5.28 Back
Promoting financial inclusion, HM Treasury, December 2004 Back
Treasury Committee, Twelfth Report of Session 2005-06, Financial
inclusion: credit, savings, advice and insurance, HC 848-I
and II. All references in this Report to oral evidence (in the
form Q or Qq followed by a number) or to written evidence (in
the form Ev followed by a page reference) are to evidence published
with that Report unless otherwise stated. Back
Treasury Committee, Thirteenth Report of Session 2005-06, "Banking
the unbanked": banking services, the Post Office Card Account,
and financial inclusion, HC 1717 Back