Financial Inclusion Taskforce
11 June 2010
The Coalition Government is committed to improving access to banking for consumers. It believes that the benefits of having access to banking will help tackle some of the problems faced by low-income families. This includes being able to receive payments through a variety of channels, offering a more secure place to keep money and reducing the cost of household bills. Consumers should also be able to trust the products and services available to them and have a wide range of choice.
Therefore, on 10 June 2010, the Financial Secretary to the Treasury, Mark Hoban MP, asked the Financial Inclusion Taskforce to convene. The Taskforce is an independent body, which aims to ensure that everyone can access the financial services they need. Established in 2005, and chaired by Brian Pomeroy, the Taskforce has already made progress on a number of difficult issues.
The Government has asked the Taskforce to continue advising the Government on access to financial services, in particular transactional banking, savings, insurance, and access to affordable credit. The Taskforce has also agreed to advise the Government on access to debt advice at the next Spending Review.
The minutes of the Taskforce’s meeting will be available on the Treasury website.
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