IMMEDIATE RELEASE

Money and Mental Health joins government Financial Inclusion Committee

5 December 2024 

Helen Undy, Chief Executive of the Money and Mental Health Policy Institute, has joined a new government committee launched to inform the upcoming financial inclusion strategy.

The Financial Inclusion Committee, which had its first meeting today, will explore measures to support people in vulnerable circumstances to access banking, build savings and improve financial resilience. 

Mental health will be a cross cutting theme for the Committee to consider, alongside accessibility and economic abuse.  

The Committee will inform the development of the government’s Financial Inclusion Strategy which will be published next year.

Helen Undy, Chief Executive of the Money and Mental Health Policy Institute, said:

“People with mental health problems can face major barriers when choosing, using and paying for financial services. This can result in many of us paying through the nose for financial products like insurance, or being effectively locked out of these services altogether. It’s fundamentally wrong that a diagnosis of a mental health condition can lead to a life of financial difficulty. That needs to change, so we’re delighted that mental health will be a key consideration in the Financial Inclusion Committee’s work. I look forward to working with the Committee to address these issues through the new financial inclusion strategy.“

Tulip Siddiq, Economic Secretary to the Treasury, said:  

“Being able to open a bank account, build savings for a rainy day or access affordable loans is vital to helping people across the UK manage their money.

“I want to make the system fairer and more accessible – and that’s what this work is all about.”

More detail about the Financial Inclusion Committee can be found here.

ENDS

For any media enquiries, please contact Brian Semple, Head of External Affairs at Money and Mental Health, on 07935 216 804 or [email protected]

Notes to Editors

About the Money and Mental Health Policy Institute

The Money and Mental Health Policy Institute is an independent charity set up by Martin Lewis, and committed to breaking the link between financial difficulty and mental health problems. We conduct research, develop practical policy solutions and work in partnership with both those providing services and those using them to find what really works. www.moneyandmentalhealth.org