Written question asked by Sion Simon (Labour) on Monday, 2 June 2008, in the House of Commons. It was due for an answer on Thursday, 5 June 2008. It was answered by Baroness Ussher (Labour) on Thursday, 5 June 2008 on behalf of the Treasury.

Credit Unions

Question: To ask the Chancellor of the Exchequer what recent discussions he has had with Ministerial colleagues on support for credit unions.

Answer: Support for credit unions continues to be at the heart of the Government's financial inclusion strategy. The Government will invest £80 million over five years (2006-11) in a growth fund for credit unions and other not-for-profit lenders. More than 100 lenders have already been supported, and more than 70,000 affordable loans made to financially excluded clients since 2006. More recently we have been looking at ways of updating credit union legislation to remove impediments to their growth and development.

Secondary information