1-9 of 9 results for subject:"Fair4All Finance"
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To ask the Secretary of State for Culture, Media and Sport, what levels of funding have been provided to Fair4All Finance and what governance structures are in place for monitoring the spending of this funding.
To ask the Secretary of State for Culture, Media and Sport, what levels of funding have been provided to Fair4All Finance and what governance structures are in place for monitoring the spending of this funding.
To date, £277.5 million of dormant assets funding has been allocated to Fair4All Finance to deliver financial inclusion initiatives. This includes £132.5 million allocated under the 2025 Dormant Assets Strategy. This funding will support financially excluded and under-served consumers to access affordable and useful products and services; as well as help build financial capability so that more people can manage their money well.
Fair4All Finance is overseen by the Oversight Trust, which acts as a governing parent to ensure funds are spent in line with the organisation's mission. Additionally, HM Treasury also maintains consistent engagement with Fair4All Finance to monitor progress and ensure delivery against its financial inclusion objectives.
To ask the Chancellor of the Exchequer, what recent progress his Department has made with Fair4All Finance on rolling out a no-interest loan scheme in Northern Ireland.
To ask the Chancellor of the Exchequer, what recent progress his Department has made with Fair4All Finance on rolling out a no-interest loan scheme in Northern Ireland.
At Budget 2021, HM Treasury announced £3.8 million of funding to pilot a No Interest Loan Scheme (NILS), designed to help vulnerable consumers across all four nations of the UK who would benefit from affordable credit to meet unexpected costs.
This pilot is being run by Fair4AllFinance, in conjunction with their partners. Fair4AllFinance are continuing to roll out the pilot more widely and HM Treasury are working with them to meet our shared ambition to launch a pilot site in Northern Ireland.
I am repeating the following Written Ministerial Statement made today in the other place by my Right Honourable Friend, the Parliamentary Under Secretary of State for Culture, Media and Sport, Stuart Andrew MP:
Today, the Government has announced that community wealth funds will join youth, financial inclusion, and social investment wholesalers...
I am repeating the following Written Ministerial Statement made today in the other place by my Right Honourable Friend, the Parliamentary Under Secretary of State for Culture, Media and Sport, Stuart Andrew MP:
Today, the Government has announced that community wealth funds will join youth, financial inclusion, and social investment wholesalers...
Today, the Government has announced that community wealth funds will join youth, financial inclusion, and social investment wholesalers as the named purposes of the English portion of dormant assets funding. This follows a public consultation last year, where we heard views from over 3,300 people, organisations, and financial services industry...
Today, the Government has announced that community wealth funds will join youth, financial inclusion, and social investment wholesalers as the named purposes of the English portion of dormant assets funding. This follows a public consultation last year, where we heard views from over 3,300 people, organisations, and financial services industry...
It is normal practice when a government department proposes to undertake a contingent liability in excess of £300,000 and for which there is no statutory authority, for the Minister concerned to present a departmental Minute to parliament, giving particulars of the liability created and explaining the circumstances.
I wish to notify...
It is normal practice when a government department proposes to undertake a contingent liability in excess of £300,000 and for which there is no statutory authority, for the Minister concerned to present a departmental Minute to parliament, giving particulars of the liability created and explaining the circumstances.
I wish to notify...
My honourable friend the Economic Secretary to the Treasury (John Glen) has today made the following Written Ministerial Statement.
It is normal practice when a government department proposes to undertake a contingent liability in excess of £300,000 and for which there is no statutory authority, for the Minister concerned to present...
My honourable friend the Economic Secretary to the Treasury (John Glen) has today made the following Written Ministerial Statement.
It is normal practice when a government department proposes to undertake a contingent liability in excess of £300,000 and for which there is no statutory authority, for the Minister concerned to present...
To ask the Chancellor of the Exchequer, whether Fair4All will support the expansion of credit unions under the Dormant Assets programme.
To ask the Chancellor of the Exchequer, whether Fair4All will support the expansion of credit unions under the Dormant Assets programme.
The Government recognises the vital role credit unions play in the financial wellbeing of their communities, providing an ethical home for their members’ savings, and affordable loans to those who may otherwise have to resort to high-cost lenders.
The Chancellor announced at Budget earlier this year that the Government intends to bring forward changes to the Credit Unions Act to allow credit unions to offer a wider range of products and services. This will be done at a future legislative opportunity. The Government is carefully considering options before bringing forward legislation to ensure that we are delivering reforms which meet members’ needs and support the development of the credit union sector.
Fair4All Finance, the independent body set up to distribute dormant assets funding to support financial inclusion, has set up a £5 million resilience fund to support credit unions and community development finance institutions in England through the coronavirus pandemic. Fair4All Finance has also launched its Affordable Credit Scale-up Programme, designed to provide tailored support to sustainably scale affordable credit.
The Government has no plans to require large employers to offer payroll deductions to allow employees to join and save with a credit union.
In Budget 2018, the Government announced a prize-linked savings pilot called PrizeSaver. This is currently operating in 15 credit unions across the country, helping to support the sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks. The pilot is scheduled to end in March 2021. The Government has no plans to allow credit unions to offer Premium Bonds or other National Savings and Investments products.
To ask the Secretary of State for Digital, Culture, Media and Sport, what plans he has in place to ensure that the Fair4All Finance scheme is able to operate effectively with existing credit unions.
To ask the Secretary of State for Digital, Culture, Media and Sport, what plans he has in place to ensure that the Fair4All Finance scheme is able to operate effectively with existing credit unions.
Fair4All Finance launched earlier this year with the ambition to increase access to fair, affordable and appropriate financial products and services for vulnerable customers, with a particular focus on access to affordable credit.
Fair4All Finance is an independent organisation. It has in place a highly experienced Chair, and will appoint a similarly high calibre board. This group, along with the organisation’s executive, will determine the organisation’s strategy, including which partnerships will help it to be most effective in supporting the financial inclusion of low income consumers.