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Money and financial inclusion

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Advice Services Review: Final research report

Advice Services Review: Final research report
Final report which considers and presents the information gathered during the review, concluding with recommendations.

Evaluation of the access to financial products through Credit Unions project: Interim report

The long-term evaluation aims to assess the impact and effectiveness of the project and review the extent to which its aims and objectives have been met.

Launch of the Money Made Clear Wales Website

The new website provides links to various financial advice and support services.

Financial Inclusion Annual Report 2009-10

Taking Everyone into Account: Financial Inclusion Strategy for Wales
This report provides a flavour of the progress made over the first year since the Strategy was published.

Financial inclusion strategy for Wales

The publication of Wales’ first Financial Inclusion Strategy gives our undertaking to address the barriers to financial inclusion and to support those who can least afford to be financially excluded.

Tackling Poverty Action Plan

Tackling Poverty Action Plan
This plan outlines the key objectives of our commitment to prevent poverty, helping people out of poverty and mitigate the impact of poverty.
Stack of pound coins on a newspaper.

The Welsh Government recognises that financial exclusion and over-indebtedness are issues that need serious consideration and concerted action.

Our first ever Financial Inclusion Strategy, “Taking Everyone into Account” was launched in July 2009.

The overall aim of the Strategy is to bring a joint-agency response to financial inclusion that will improve the current financial landscape, including:

  • Enabling access to mainstream banking services and sources of affordable credit through third sector lenders, including credit unions;
  • providing accessible savings opportunities; 
  • improving access to advice;
  • improving financial capability; and
  • providing advice on income maximisation and money management.

We are fully committed to tackling exclusion, and the Financial Inclusion Strategy gives our undertaking to address the barriers to financial inclusion and to support those who can least afford to be financially excluded.

Financial Inclusion Delivery Group

The Financial Inclusion Delivery Group (FIDG) was established in July 2011. The role of the FIDG is to:

  1. provide expert, evidence-based advice to the Welsh Government on the further and wider policy requirements necessary to tackle financial exclusion and over-indebtedness in Wales;
  2. to consider and advise on how the Financial Inclusion Strategy for Wales is being delivered across the Welsh Government, public and third sectors, taking into account the work of the UK Government, Money Advice Service and other stakeholder organisations;
  3. identify specific areas in which service delivery can be improved through collaboration and make recommendations;
  4. take the lead in implementing and promoting specific areas of the Strategy; and
  5. consider and approve an annual progress report on the Financial Inclusion Strategy for Wales.

Social Fund

The Welfare Reform Bill that is currently before Parliament abolishes the discretionary Social Fund and paves the way for delivery of new local services to replace Community Care Grants and Crisis Loans for general living expenses.

From April 2013 the Social Fund is being devolved to local authorities in England, the Scottish Government and to the Welsh Government. The Welsh Government will receive funding equivalent to that which was spent on the Community Care Grants and Crisis Loans in Wales at the point at which responsibility is transferred.

Advice Services Review

The advice services review started on 6th August, with an expected draft report due in December 2012. As part of the first stage of the review, a questionnaire has been sent out to all local authorities as well as through known advice provider networks in order to map the current range of service provision across Wales and collect providers comments in relation to the review's terms of reference.