CHASM and the Financial Inclusion Commission call on the UK Government to bring forward a National Financial Inclusion Strategy.
Launched in June, a report - Fixing Financial Exclusion across the Four Nations - The case for prioritising a new National Financial Inclusion Strategy - summarises research produced by CHASM - Centre on Household Assets and Savings Management in collaboration with, and funded by, the Financial Inclusion Commission (FIC).
It’s been a pleasure working with the FIC team in delivering this valuable research.
Based on insights and assessment of financial exclusion across the four nations, we have explored what more needs to be done to achieve financial inclusion in the UK.
The report asks all political parties to commit to creating a National Financial Inclusion Strategy, prioritising:
Numerous organisations and individuals including academics, public, third sector and private sector organisations, and also research centres and think tanks continue to argue for financial inclusion.
MoneySavingExpert.com founder Martin Lewis has previously argued for financial inclusion to be made a priority. Speaking to the cross-party House of Lords Liaison Committee in 2021, Martin said: "We need far more senior, powerful and invested government in financial inclusion. Because it is the bedrock of employment. It is the bedrock of being a consumer and, frankly, it is the bedrock of being a citizen."
The FIC shares the sentiment that by prioritising financial inclusion, we can unlock significant opportunities for inclusive economic growth, enhance household financial resilience, and reduce the social and economic costs associated with financial distress.
In collaborating to deliver this report, CHASM’s work has involved synthesising the latest UK financial exclusion data before embarking on evidence gathering sessions in England, Wales, Scotland and Northern Ireland with experts, advocates and people with lived experience. Two additional, full length reports will be released this autumn, exploring a) the existing research and b) the priorities and potential solutions identified by stakeholders and people with lived experience
Associate Professor in Social Policy
Staff profile for Louise Overton, Associate Professor, Department of Social Policy and Social Work in the School of Social Policy and Society, University of Birmingham.
Professor of Practice in Financial Literacy and Wellbeing (CHASM)
Professor Adele Atkinson is a Professor of Practice in Financial Literacy and Wellbeing in the School of Social Policy, University of Birmingham.
