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Financial Inclusion
22 October 2025
Lead MP
Martin Rhodes
Glasgow North
Lab
Responding Minister
Lucy Rigby
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Word Count: 4254
Other Contributors: 10
At a Glance
Martin Rhodes raised concerns about financial inclusion in Westminster Hall. A government minister responded.
Key Requests to Government:
The Government must take steps to mainstream inclusive policies and practices in our financial system and work with communities to ensure they have access to financial services. The upcoming financial inclusion strategy should address barriers faced by disabled people, including access to cash and discrimination in branches.
How the Debate Unfolded
MPs spoke in turn to share their views and ask questions. Here's what each person said:
Lead Contributor
According to the Building Societies Association, 14 million people have less than £100 in savings. Fair4All Finance reports that more than 20 million people are financially vulnerable in the UK. In Glasgow North, 41,500 people (44% of the adult population) are financially vulnerable, which is higher than the national average.
Adrian Ramsay
Green
Waveney Valley
Discusses branch closures in his constituency and reiterates the importance of speeding up the roll-out of banking hubs for rural communities.
Southend West and Leigh
In Southend West and Leigh, nearly 30% of financially vulnerable people are in the 'squeezed and sliding' group with mortgages or rent commitments but on low income and limited savings. There is a need to encourage saving through an opt-out payroll savings scheme.
Elaine Stewart
Lab
Ayr, Carrick and Cumnock
In Ayr, Carrick and Cumnock, 30,000 adults (40% of the population) are financially vulnerable. The financial inclusion strategy is a vital chance to ensure communities have safety nets they need to thrive.
Jamie Stone
LD
Caithness, Sutherland and Easter Ross
The Financial Conduct Authority’s work on access to cash is useful but needs to be widened to include face-to-face services where people can receive advice across the counter.
Jim Shannon
DUP
Strangford
Credit unions provide access to affordable loans and help with learning how to save, making financial inclusion available in smaller villages and towns. Banks should also return to these areas to avoid isolating people from necessary guidance.
Matt Turmaine
Lab
Watford
In Watford, 37,000 people are affected by financial vulnerability, higher than the national average in three major metrics of need. The Government's financial inclusion strategy is a welcome step to develop and implement interventions.
Peter Swallow
Lab
Bracknell
Asked about discussions with the Department for Education on financial literacy for young people.
Sam Carling
Lab
North West Cambridgeshire
PwC analysis shows that one in three adults struggle with mainstream credit due to poor or thin credit files, particularly affecting young people trying to get mortgages.
Steve Yemm
Lab
Mansfield
Highlights the issue of people being excluded from utility deals due to lack of bank accounts, which prevents them from accessing direct debit services.
Will Stone
Lab
Swindon North
Suggests that financial education from an early age would help people understand their options and prevent them from coming to financial advisors too late when they are already in trouble.
Government Response
Lucy Rigby
The Economic Secretary to the Treasury
Government Response
Acknowledges the importance of ensuring that everyone has access to appropriate and affordable financial products. Pays tribute to TAG for promoting social inclusion for disabled people and highlights the need for further work to ensure the financial system works for everyone. Discussed banking hub services, branch closures, discrimination in branches, and digital inclusion. Confirmed the Government's commitment to 350 banking hubs by the end of the Parliament. Emphasised the importance of inclusive design and accessibility improvements for underserved groups. The Minister is willing to meet the hon. Member to discuss improving access to credit through industry collaboration and has mentioned concerns about economic abuse impacting women's credit ratings.
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About Westminster Hall Debates
Westminster Hall debates are a chance for MPs to raise important issues affecting their constituents and get a response from a government minister. Unlike Prime Minister's Questions, these debates are more in-depth and collaborative. The MP who secured the debate speaks first, other MPs can contribute, and a minister responds with the government's position.