The Community Investment Coalition has today written this letter to the Chancellor of the Exchequer in response to the Budget:
The letter covers four steps that UK Government can do to ensure that banks are doing their bit to build a stronger economy that gives all families, businesses communities a chance to thrive. These are:
- improvements in transparency
- reform of Social Investment Tax Relief
- supporting a Community Finance Fund
- implementing the recommendations laid out in the Financial Inclusion Commission’s report.
Read the letter in full via the link above.
About the Community Investment Coalition
- The Community Investment Coalition is a partnership of national organisations, which aims to increase access to affordable finance for all communities. Membership includes the Community Development Foundation, the Centre of Responsible Credit (CfRC), the New Economics Foundation (nef), CCLA, the Community Development Finance Association (CDFA) and Local Trust.
CIC campaigns for:
- Increased transparency and public accountability of financial service providers to support consumer choice and allow effective intervention in under-served markets.
- Increasing diversity of providers and choice for consumers in the financial services sector, with more providers offering a wider range of fair and affordable products.
- More innovation in the financial services sector so that affordable financial products are delivered accessibly to all communities.
- Sustainable local economic growth with a greater share of locally generated income remaining within communities.
- Improvements in financial literacy.