After Payday Lending: Accessible and Affordable Credit

If there is one feature which defines the economically disadvantaged it is the sheer difficulty and cost of accessing affordable credit. This was a topic I helped to explore in some detail as co-chair of a short term working group established by the Carnegie UK Trust. We reported earlier this year. The Group’s report includes the following ‘Outcome Statement’- what we believed should and could be achieved:- All citizens in Scotland, wherever they live, have access to excellent forms of community lending which helps them to reduce the costs of borrowing and supports their financial inclusion, promotes fairness and reduces inequality.