UK Finance, the banking trade body, has urged the incoming government to develop policies that foster growth and enhance financial inclusion.
In its financial services manifesto, the lobby group advocates for financial education to be integrated into the school curriculum and proposes the establishment of a cross-government task force to address financial abuse. Highlighting widespread public support, with 80% of voters favouring improved financial education in schools, UK Finance also calls for enhanced measures to combat fraud and scams. It suggests that technology, social media, and telecoms companies should share the burden of tackling economic crime and fraud reimbursement.
Additionally, UK Finance emphasises the need for legislation to ensure the accuracy of information at Companies House, citing instances of fraudulent filings affecting its members. The trade body also seeks clarity on net-zero plans, urging a clear roadmap for investment in key sectors of the economy. To promote economic growth, UK Finance proposes the appointment of a government champion for competitiveness to review regulatory burdens in financial services. It also recommends the introduction of a new digital gilt backed by the Treasury.
David Postings, chief executive of UK Finance, said: “I hope that by outlining the policy agenda the sector would like to see taken forward postelection, and through working in partnership with government, we can help build a better society for all.”
