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On 13 December 2004, the New Statesman and the Smith Institute, in association with Provident Financial, hosted a round-table discussion on financial inclusion. More than 8 per cent of British households have no bank account. These people are more likely to be dependent on credit, which can lead to uncontrollable debt and other serious problems. To tackle this, the Treasury’s pre-Budget report of December 2004 announced the creation of a financial inclusion fund and task force. These will focus on increasing access to banking services, free face-to-face money advice and affordable credit. At the round table, representatives from government, consumer, voluntary and business sectors debated the importance of these measures and questioned if they are enough to help, or even accurately reflect, the needs of the financially disadvantaged.

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