Issue - meetings

Background:

This report provided details of the outcome of the Overview and Scrutiny Task Group in-depth review of fair access to credit, which had originated from a motion considered at Full Council on 12 January 2012 on the issue of affordable credit and the decision to refer this issue to a cross party Overview and Scrutiny Task Group.  

The Task Group met with representatives from a number of organisations. This included the Medway Citizens Advice Bureau, Credit Unions, trade associations, a loan provider, the Youth Parliament and officers from various sections of the Council. This was supported by additional written submissions from a number of organisations/individuals working within the remit of the review and further desktop research, which led to the Task Group developing 29 recommendations.

Following the conclusion of the review, the Task Group’s report was submitted to both the Business Support and Regeneration, Community and Culture Overview and Scrutiny Committees, details of which were set out in paragraphs 5 and 6 of the report.

It was noted that the main findings/recommendations of the review responded to the Task Group’s consideration of:

• The role of the Council in supporting Medway residents affected by unaffordable credit. This included work to enable credit unions, promote financial literacy and support the establishment of a Social Impact Board;

• Strengthening the rules governing the issue of lending licences and, recognising that an effective strategy in combating illegal lending was an alternative supply, addressing the lack of affordable credit. This included focus on giving local authorities greater control over the planning process and enabling affordable alternatives such as credit unions and;

• How the Council could promote financial literacy and affordable lending and debt counselling recommendations focused on promoting the integration of financial education into the curriculum, financial literacy for all and promoting the timely access to appropriate and quality advice.

A Diversity Impact Assessment (DIA) screening form had been completed and was attached at Appendix 1 to the review document. The assessment focused primarily on the recommendations for Council services, as the Government departments would have their own assessment frameworks for anything that they decided to action. The screening form showed that it was not necessary to undertake a full assessment on the review document.