A new EU report has found 6% of Britons lack adequate financial services, placing the UK in 10th place out of the top 15 developed European States.
In the European Commission’s financial services provision and prevention of financial inclusion report – only Ireland, Spain, Portugal, Italy and Greece have a higher percentage of the public financially excluded in the EU 15. The EC says financial exclusion, difficulty accessing and using financial services and products, hinders a person’s ability to “lead a normal social life in the society in which they belong”. While the Eurobarometer data paints a poor picture for the UK, the number of people with no revolving credit is 30% (ranked fifth) and those with no savings total 22% (ranked s...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes