www.londoncouncils.gov.uk financial capability mark brangwyn head of community services london...

www.londoncouncils.gov.uk

Financial Capability

Mark Brangwyn

Head of Community Services

London Councils

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FINANCIAL CAPABILITY• Better Financial Capability enables people to:

1. Keep track of their money

2. Make ends meet

3. Plan for the future

• Better Financial Capability is essential to effective Financial Inclusion

• It enables people to choose financial products that meet their needs and to use them with skill and confidence

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London Councils and Financial Capability

London Councils Financial Inclusion Programme Manager Su Holmes

Part of the DWP Financial Inclusion Team for London led by Yasin Ahmed of Toynbee Hall

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• Mary Hill

• Principal Policy and Projects Officer for Child Poverty

• Part of London Councils Prosperous Communities Team led by Head of Economic Development Dianna Neal

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• Peter O’Brien

• Commissioning Manager

• 16 to 19 Regional Planning Group

• Further Education in London

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• Janet Roxby

• Housing issues

• London Councils Sustainable Communities Team

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Local Housing Allowance Cap• CENTRAL LONDON

• 9719 families will be affected by reduced housing support in Central London boroughs

• The average shortfall for a family will be £87

per week

• Some families will lose up to £641 per week

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LHA Cap: cross-London Impact

• 159,000 households will be affected

• 82,000 households may face eviction for rent arrears

• 4,800 families could be accepted as homeless

• Over 25% of all private landlords are set to remove some or all of their properties from the “benefit” market

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More information on LHA Cap• Download 16 July 2010 London Councils press

release and briefing note:

www.londoncouncils.gov.uk/media/current/pressdetail.htm?pk=1116&showpage=-1

• Consult London Councils Sustainable Communities Team:[email protected]

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London DWP Financial Inclusion Champions Team

• Working borough by borough to promote Financial Inclusion as a key issue

• Developing a Financial Inclusion Toolkit for London Local Authorities

• Alerting boroughs to free, impartial and reliable sources of materials to promote Financial Capability locally

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Financial Capability -the aim

• Less debt, fewer evictions, less disrupted schooling, fewer people with illness due to money-related stress

• More money spent locally and less paid to service debt to Loan Sharks and Door Step Lenders

• Every Londoner able to keep track of their money, make ends meet, and plan for the future

• A greater sense of well-being for people, families and communities

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The Ask

• Share good practice by participating in the development of the forthcoming London Councils report on Financial Inclusion and Financial Capability

• Increase Financial Inclusion and Capability locally by committing to action…

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Financial Capability - examples• Promote ”My Money” Week to schools

• Display CFEB Money Made Clear Booklets in libraries etc

• Create link from borough website to websites such as

www.moneymadeclear.org.uk

• Provide money management training for people who owe money to the Authority

• Book CFEB Money Made Clear “Money Guide” sessions

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Programme for Today

• Briefing

• Round Table Discussions

• Feedback

• Plenary

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Follow up• Feedback via evaluation forms• Contact your FI Champion• Contact your CFEB Manager• Use the Financial Inclusion pages on the London

Councils website • Support action to promote Financial Capability in your

borough• Spread the word about what your borough is doing to

increase Financial Capability locally, by providing information for the London Councils On-line Report

www.londoncouncils.gov.uk financial capability mark brangwyn head of community services london...

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