Policy paper

Financial Inclusion Committee: terms of reference

Updated 4 March 2026

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This publication is available at https://www.gov.uk/government/publications/financial-inclusion-committee/financial-inclusion-commitee-terms-of-reference

The Financial Inclusion Committee’s mission is to tackle barriers to individual and households’ ability to access affordable and appropriate financial products and services. 

The Financial Inclusion Committee will bring together:

  • Key stakeholders from the third sector and industry (including trade bodies) to examine, coordinate and implement the Financial Inclusion Strategy’s interventions;
  • The Financial Conduct Authority (FCA); and
  • The Money and Pensions Service (MaPS).

Objectives

The Committee’s objectives are to examine, coordinate and implement the Financial Inclusion Strategy’s interventions.

In line with the pillars of the Financial Inclusion Strategy, the Committee will focus on the following areas: 

  • Digital inclusion and access to banking services
  • Savings
  • Insurance
  • Affordable credit
  • Problem debt
  • Financial education and capability

Across the above areas, the committee will consider cross-cutting themes, including accessibility, mental health, and economic abuse.  

Members and Chair

The Committee membership will be reviewed on an ongoing basis to ensure it is representative of those able to address financial exclusion. Its members are expected to actively champion financial inclusion in their own organisations and the wider financial services sector, draw on relevant expertise across the sector and lived experience.  

The Committee will be chaired by the Economic Secretary to the Treasury and will hold meetings on a biannual basis ahead of the strategy’s two-year review. HM Treasury officials will provide the secretariat function of the Committee and will distribute the minutes and actions of each meeting to all Committee members.  

More information

Any public communications on behalf of the Committee will be managed by HM Treasury. 

The Committee takes a UK-wide approach on financial services issues, which are largely a reserved matter, and HM Treasury will continue to work with the Devolved Governments for their input. On some issues which are devolved, such as education policy, the Committee may take an England-only approach where needed. HM Treasury will continue to work closely with relevant departments across Whitehall where issues overlap, such as the Department of Science, Innovation, and Technology (DSIT) on digital inclusion and the Department for Education (DfE) on financial education.  

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