Financial Inclusion Strategy

Lucy Rigby Excerpts

Wednesday 5th November 2025 Written Statements

[The Economic Secretary to the Treasury (Lucy Rigby)]

Today, I have laid the financial inclusion strategy—Command Paper 1424. Financial inclusion means that people can access the financial products and services they need. When people are financially excluded, every day is harder, plans are precarious, and a financial setback can snowball into a crisis. But when people are included, a potential shock can become a manageable obstacle, and aspirations can become achievements. These benefits have knock-on effects for our wider society, making financial inclusion a bridge to opportunity and an engine for growth.

I want to see a financial services system that works for everyone, where people can access the products and services they need to build their financial resilience and achieve their goals. The strategy sets out our approach to improving financial inclusion and, in turn, ensuring that everyone can access the financial products they need to participate fully in the economy, manage their money well, and plan for the future.

The strategy brings together a package of initiatives to improve access to financial services and strengthen financial resilience across the UK. This builds on the Government’s existing progress, such as the ongoing roll-out of 350 banking hubs, and looks to future opportunities, such as the development of a new digital pass which can help people prove their identity. It is structured around six key pillars: banking and digital inclusion; savings; insurance; credit; problem debt; and financial education and capability. Three themes of mental health, accessibility, and economic abuse have been considered throughout to ensure that interventions address the specific barriers consumers affected by those issues can face. Through these areas of focus, the strategy also supports wider Government priorities, including building household financial resilience and driving sustainable economic growth. Its measures include:

Action to tackle the impact of economic abuse on victim-survivors’ credit scores, enabling people to regain their financial independence following the devastating impact of abuse;

A new pilot taken forward by the largest banks to open bank accounts for people who struggle to access mainstream banking, such as people experiencing homelessness;

A new national coalition of employers to support organisations to help their employees save for unforeseen circumstances;

Action to drive greater accessibility of products for people who can face challenges in using essential financial services, such as people with disabilities and mental health conditions.

The strategy has been developed with the support of a financial inclusion committee of consumer and industry representatives. It has also been informed by extensive engagement with wider stakeholders across Government, regulators, civil society, and the financial services sector. I would like to thank all those who have contributed their time and expertise to the development of this important work.

This strategy will be delivered in partnership across Government, regulators, civil society, and the financial services sector. The UK Government will also continue to engage closely with the devolved Governments on areas of shared and devolved responsibility. Together, we will work to support consumers to build financial confidence, resilience, and wellbeing.

This strategy will guide Government and industry activity to promote financial inclusion, and it will be reviewed in two years’ time to ensure that progress is made.

The financial inclusion strategy is available on gov.uk: www.gov.uk/government/publications/financial-inclusion-strategy

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