Question to the HM Treasury:

To ask His Majesty's Government what steps they have taken to develop metrics to evaluate the (1) implementation, and (2) impact, of the Financial Inclusion Strategy.

In early November, the Government published its Financial Inclusion Strategy, setting out an ambitious programme of measures to improve financial inclusion and resilience for underserved groups across the UK. This includes interventions by both Government and industry to address barriers individuals and households face in accessing financial products, such as supporting people to open a bank account, build a savings habit, and access affordable credit

As part of developing the strategy, the Government has engaged with Financial Inclusion Committee members and other organisations on how best to measure its implementation and impact. The strategy is expected to have a positive impact on a range of outputs including, for example the proportion of UK adults who are unbanked

The strategy’s implementation will be reviewed in two years’ time, providing an update on delivery of the interventions and on relevant outcomes‑based metrics, which will reflect the progress made across the sector

The Government recognises that improving financial inclusion requires a joined‑up approach and will continue to work closely with industry, the Financial Conduct Authority and wider stakeholders as we implement the strategy.