Financial Services: Disadvantaged

(asked on 7th January 2025) - View Source

Question to the HM Treasury:

To ask His Majesty's Government what engagement is taking place between the Department for Science, Innovation and Technology and the Treasury with regard to the newly formed Financial Inclusion Committee and the future Financial Inclusion Strategy, given the commitment within the Committee’s Terms of Reference to look at the link between digital and financial inclusion.


Answered by
Lord Livermore Portrait
Lord Livermore
Financial Secretary (HM Treasury)
This question was answered on 16th January 2025

On 5 December, Government announced it will develop a Financial Inclusion Strategy, alongside a supporting Committee, to tackle the problem of financial exclusion. Digital exclusion can be a significant barrier in how consumers are able to access and use financial services products. This is why digital inclusion will be a key area of focus within the Financial Inclusion Strategy and will be considered by the digital inclusion and access to banking sub-committee.

HM Treasury is working closely with the Department of Science, Innovation, and Technology (DSIT), the lead department for digital inclusion, to ensure that this work complements wider initiatives to address the barriers which can affect consumers, such as digital skills, access to devices and connectivity, and a lack of support and confidence.

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