Communities and Culture Committee
Inquiry into Financial Inclusion and the impact of Financial Education
Terms of reference
to consider whether people of all ages in communities across Wales are given the opportunities they need to gain and develop the skills, knowledge and confidence necessary to make informed decisions on budgeting, borrowing, insurance saving and other financial products;
to identify any gaps in the provision of financial education and examples of good practice that could be replicated across Wales;
to examine the role of the statutory, private and third sectors acting individually and collectively in providing and promoting financial education within communities;
to inquire whether the financial education that is being provided is appropriate to individual needs and circumstances;
to assess whether effective links are made between the provision of financial education and the provision of access to financial services;
to examine how effective financial education can contribute to income maximisation and debt minimisation;
to assess the effectiveness and appropriateness of the Welsh Government’s policy on financial capability and income maximisation as outlined in its Financial Inclusion Strategy.
