Parliamentary Written Question (Correction)

(Limited Text - Ministerial Extracts only)

Thursday 9th December 2010 Written Statements

[The Minister of State, Department for Work and Pensions (Steve Webb)]

I regret to inform the House there was an inaccuracy in my answer to parliamentary question 20342 on 1 November 2010, Official Report, column 564W.

The response indicated that since 2006 credit unions have made over 262,056 loans to financially excluded people, with an additional 43,308 loans made through other community finance organisations. It also indicated that over 275,000 customers who took out a Growth Fund loan also opened a bank or savings account.

The figure quoted for customers who took out a Growth Fund loan and also opened a bank or savings account is a projection to the end of March 2011, but the response makes it appear that this is the figure to date. It is in fact estimated that the number of people who will have opened a bank or savings account to September 2010 is 216,000.