Financial Exclusion


Thursday 2nd December 2010, Guoman Charing Cross Hotel - London, 09:00 - 16:10

Working in Partnership to Tackle Financial Exclusion and Improve Financial Capability

Overview

The government has shown its commitment to reducing financial exclusion and poverty with its recent appointment of the Rt. Hon Frank Field MP, former minister for welfare reform, as their chairman of the Review on Poverty and Life Chances. He will conduct an independent review into UK poverty, and report back to the government on his findings. The current period of economic turbulence and uncertainty has highlighted the unfairness, scope of the challenge and the depth of the divide between the majority of people who have access to a range of financial products and services, and those who are financially excluded.

The case for tackling financial exclusion and improving financial capability is clear: currently, in the UK, around 1.5 million adults do not have access to a bank account; 7.8 million people in the UK are unable to access mainstream credit; and people on benefits borrow an estimated £330 million a year on home credit, paying £140 million in interest.

The Financial Inclusion Taskforce was set up by the previous government, to promote financial inclusion. On the 10th June, the new coalition government showed its commitment to its values of freedom, fairness and responsibility, by asking the taskforce to convene and build on the progress made in the last parliament. The focus of their work will be on banking, savings, insurance and access to affordable credit. But, with their remit to end in March 2011, what progress has been made in providing adults, who are financially excluded, with greater access to bank accounts, low-cost credit, remittance services support and convenient and easy access to impartial financial and debt advice?

Improving financial capability has wider benefits for society and the UK as a whole; it helps promote personal responsibility, reduce welfare dependency and support policies for financial inclusion, reduce over indebtedness and encourage people to save for their retirement.

With the government outlining its efficiency savings and cuts to department’s budgets, the future in this crucial area is uncertain. However, with the government pledging to Build the Big Society, a renewed commitment is in place. Also, the government has shown its desires for the third sector having an increased role in breaking the barriers to financial inclusion and providing services to ensure financial capability.

Agenda

09:00 Registration and Coffee
09:45 Chair’s Welcome Address
Bernie Morgan, Chief Executive, Community Development Finance Association, Member, HMT Financial Inclusion Task Force (CONFIRMED)
09:55

Breaking the Barriers to Financial Exclusion

  • The current remit of the Financial Inclusion Taskforce and progress
  • What are the focuses of the taskforce under the new government and why?
    • Transactional banking
    • Savings
    • Insurance
    • Access to affordable credit
  • The importance of community development finance institutions (CDFIs)
  • What is the future of the taskforce after March 2011?


Brian Pomeroy, Chair, Financial Inclusion Taskforce (CONFIRMED)
10:15

Tackling Poverty and Improving Life Chances through Financial Inclusion

  • What part does financial exclusion play in extent of poverty in the UK?
  • Why do we need to generate a broader debate about the nature and extent of poverty in the UK?
  • The Independent Review on Poverty and Life Chances – Findings and Recommendations


Damon Gibbons, Chief Executive, Centre for Responsible Credit (CfRC) (CONFIRMED)
10:35 Questions and Answers Session
10:55 Coffee and Networking
11:25

Tackling Financial Exclusion: What are the Causes and What Can be Done?

  • What has the impact of the recession been on the financially excluded?
  • The need for policymakers and stakeholders to gain a better understanding of the root causes of financial exclusion and consumers disengagement with financial services
  • Ensuring solutions are identified and best practice is promoted
  • What does the change in government mean for improving financial capability?
  • Categorising the factors:
    • External environmental/societal
    • Income related and person-specific
    • Demand-side and supply-side
  • What does the Big Society mean for the Third Sector in reducing financial exclusion?


Mick McAteer, Director, Financial Inclusion Centre (CONFIRMED)
11:45

Developing Strategies at a Local Level to Tackle Financial Exclusion: Leeds City Council

  • Embedding Financial Inclusion as a Key Improvement Priority in the Leeds
  • Strategic Plan (successor to the Local Area Agreement)
  • Roll out of Credit Union branches in Council One Stop Centres and Housing Offices
  • Development of a partnership of the city's 5 debt advice providers.
  • Won Beacon Status for Financial Inclusion
  • Commissioned key research including economic impact study
  • Linking with private sector to produce innovative financial literacy packages for young children
  • New approach to developing a Council Corporate Debt Policy involving key partners
  • Providing basic financial management and debt counselling training for all front line staff


David Roberts, Economic Policy and Information Officer, Financial Inclusion Team Group, Leeds City Council (CONFIRMED)
12:05

The Role of Assets in Improving Financial Inclusion in BME Communities

  • The importance of assets in reducing financial exclusion in BME communities: Improving people’s life chances and social inclusion
  • Tackling asset inequality: What can be done?
  • Creating policies that takes account of asset-building
  • Ensuring assets are financially stable


Dr Omar Khan, Senior Research and Policy Analyst, Runnymede Trust (CONFIRMED)
12:25 Questions and Answers Session
12:55 Lunch and Networking
13:55

Embedding Financial Capability in Education

  • Who are Personal Finance Education Group and what do we do?
  • Integrating financial education into the curriculum to develop financial capability at an early age
  • The What Money Means programme: Increasing the quantity and quality of personal finance education in primary schools to ensure young children have a foundation of money management
  • Learning Money Matters: Ensuring people leave secondary school with the financial knowledge, skills and confidence they need to live full adult lives
  • Providing support and advice for looked after children in care
  • Other programmes and initiatives
  • Our teaching resources
  • Progress and next steps


Jan Campbell, Policy Analyst, Personal Finance Education Group (CONFIRMED)
14:15

Financial Exclusion and Reducing Reoffending

  • Providing financial services for people with convictions
  • The link between financial exclusion and recidivism
  • Reducing reliance on loan sharks
  • ‘Real Wages’ for ‘Real Work’ – reform in the secure estate


Juliet Lyon, Director, Prison Reform Trust (CONFIRMED)
14:35 Questions and Answers Session
14:50 Coffee and Networking
15:15

Financial Inclusion and Rural Housing

  • Rural Proofing: Ensuring policy makers tailor their work to address rural circumstances and delivers real benefits for those with the greatest need
  • Putting rural proofing in financial inclusion strategies at development stage
  • The challenges:
    • Tackling fuel poverty
    • Targeting poverty and financial exclusion
    • Communication in rural areas
    • Achieving VFM
    • Delivering financial inclusion services in rural areas
    • Increasing access through transport solutions
  • Solutions
  • Examples of best practice


Will Aston, Rural Financial Inclusion Champion, Commission for Rural Communities (CONFIRMED)

15:35

Working in Partnership to Tackle Financial Exclusion: Westlea Housing

  • The background: Providing over 6,000 homes to people with a variety of needs
  • Customer profiling: Development of a drop-in service for advice support and information
  • Local area board meetings: Providing an opportunity to promote partnership working and financial inclusion
  • Wiltshire Money: Educating, supporting and advising the vulnerable to ensure they are financially included and remain financially capable
  • Running a series of conferences around key issues such as: Bankruptcy, financial literacy or budgeting tools and offers a perfect opportunity for networking in a rural area

                                                                                                                                               Shirley Davies, Head of Neighbourhood Services and Martyn Baker, Customer Accounts Manager, Westlea Housing (CONFIRMED)
15:55 Questions and Answers Session
16:10 Coffee and Networking

*programme subject to change without notice

Exhibitor:

Lloyds Banking Group

Audience

Delegates will be drawn from the following organisations: third sector organisations, credit unions, benefit managers, debt advice managers, independent money advice organisations, independent financial advisers, elected members, directors of adult services, directors of pensioners’ organisations, registered social landlords, housing advisors, Jobcentre Plus managers, bank managers, solicitors, prison teaching staff, teachers of adult-learners, directors of BAME organisations, and organisations that work with Muslim communities.

 

Book Now!

Online:
REGISTER HERE
Email:
enquiries@
insidegovernment.co.uk
Phone:
0845 666 0664
Fax:
BOOKING FORM
to 0207 550 5966
Post:
BOOKING FORM to Inside Government, 22 Long Acre, Covent Garden, London, WC2E 9LY