Elaine Stewart
Main Page: Elaine Stewart (Labour - Ayr, Carrick and Cumnock)Department Debates - View all Elaine Stewart's debates with the HM Treasury
(1 day, 23 hours ago)
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Martin Rhodes
I agree that the financial inclusion strategy is a very welcome step in developing, co-ordinating and implementing interventions to support financial inclusion in the UK.
Subsequent policy decisions stemming from the strategy will have to work for a broad range of groups in society. Many face financial exclusion for different reasons, including older people, disabled people and young people.
Elaine Stewart (Ayr, Carrick and Cumnock) (Lab)
I thank my hon. Friend for raising this important subject. In Ayr, Carrick and Cumnock, 30,000 adults—40% of the population—are financially vulnerable. That is higher than the national average, and it is hitting older residents and carers especially hard. There are too many forgotten families struggling to access credit, savings and insurance. The upcoming financial inclusion strategy is a vital chance to make a change. Does my hon. Friend agree that we need to work with the Government to ensure that those communities have the financial safety nets they need to thrive?
Martin Rhodes
I agree that we need to make sure that all communities have access to financial services, wherever they are and whoever they are. Everybody needs access to those services. I will welcome hearing from the Minister later about the financial inclusion strategy.