Financial inclusion in the UK: Review of policy and practice

Review of initiatives to tackle financial exclusion.

Financial exclusion has become a major policy concern. Many initiatives exist under the auspices of different government departments and statutory bodies.

Policies between the devolved administrations also diverge. In addition, the voluntary and private sectors are crucial to providing services to financially excluded groups.

This study aimed to:

• identify and evaluate research on forms of financial exclusion;

• create a database of current work across the UK aimed at those vulnerable to financial exclusion;

• appraise relevant policy initiatives, identifying those vulnerable groups left out of current initiatives, either entirely or partly;

• assess which groups are likely to remain excluded and how policy-makers and practitioners can address their needs.

The study covers money and debt advice, financial capability, banking, affordable credit and insurance in all four countries of the UK. The report concludes with recommendations for both government and the financial services industry.