News & Views

The Government’s announcement of an additional £132.5 million of Dormant Assets funding for Fair4All Finance, one and a half times what was expected, offers a glimmer of hope in tackling financial exclusion – against the backdrop of a Financial Inclusion Strategy which has received at best, lukewarm reviews. In this blog, we set out how the new funding could be used to lay the foundations for more strategic and systematic change.

Efforts to tackle the harms caused by financial abuse have exposed a bigger truth: credit reporting must evolve. Context, fairness and accountability can’t be optional.

Our new report finds a third of low-to-middle income borrowers are cutting back their essential spending to preserve their credit scores, and highlights how the marketing of scores can increase the risks of over-indebtedness and deter people from seeking advice.

Next week’s Budget will take place in the context of an urgent need to boost economic growth. If we are serious about this, we need to tackle household debt and restore the safety net.