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Financial Inclusion Fund

Volume 451: debated on Wednesday 1 November 2006

To ask the Chancellor of the Exchequer what progress has been made in the allocation of £20 million of the Financial Inclusion Fund to stimulate demand for mainstream financial services. (98679)

On the advice of the Financial Inclusion Taskforce the Government are launching a campaign to promote demand for financial products and services. The campaign is working with trusted intermediaries such as charities and the social housing sector to increase awareness of financial exclusion and address the barriers to accessing mainstream banking and sources of affordable credit. The Department for Work and Pensions is managing the campaign delivery unit, in partnership with secondees from stakeholder organisations across England, Wales and Scotland. Recruitment of stakeholder managers is now nearing completion.