In today’s pre-Budget statement chancellor Gordon Brown announced plans to tackle financial exclusion and encourage more people to open bank accounts.
He says there are still 2million families in the UK with no bank accounts which limits their access to credit.
He says: “Banks and the government will work together to reduce by half the number of people without bank accounts.”
To tackle financial exclusion there will be investment in face-to-face advice from the likes of Citizens Advice Bureaux.
A total of 120m will be invested in promoting the greater take-up of savings accounts.