Policy and Government
At CAP we don’t want to just treat the symptoms of poverty; we also want to address the causes. That’s why we’re working tirelessly behind the scenes to shape and influence the policies that affect our clients. It means we get to speak on behalf of the vulnerable to the people with the power to change their lives. And our voice is growing louder.
Industry professionals seek our opinion on current issues, and our recommendations get heard in Parliament. Change is happening. Below are some of the ways in which we are fighting for justice amongst the country’s key decision-makers.
28 February 2017
Back in December 2015, CAP's report The poor pay more: Prepayment meters (PPM) and self-disconnection was released, exploring the shocking level of self-disconnection happening amongst the most vulnerable in our society. A little over a year since the initial report, we have released an update looking at how these issues stand today. Having followed up with 900 CAP clients, we found that the poorest and most vulnerable are still suffering, and that there's still much more to be done to help them. For example, some respondents reported using their heating for only a few days a month, yet typical self-disconnection monitoring processes continue to miss them. The update also examines new research on the number of clients on prepayment meters who reported not having access to the internet at home or in their locality. Considering the demand for energy consumers to be able to connect digitally, this is another significant cause for concern. Click here to read the full report.
24 February 2017
Trussell Trust has joined forces with CAP to help those who are in financial crisis. Trussell Trust has the UK’s largest network of food banks, last year giving out 1,109,309 three-day emergency food supplies to people in crisis. Often those struggling to put food on the table are facing issues with their finances, which is why CAP and Trussell Trust hope that this partnership will be beneficial to a large majority of people in crisis.
14 February 2017
CAP has responded to the FCA’s most recent consultation about the high-cost credit, a topic of great importance to us. We were pleased that the FCA had set a broad scope for this consultation as we would like to see consumer protection in place across a wider variety of credit products. CAP clients are more likely to have debts from mainstream financial products, such as credit cards and overdrafts, than with payday lenders. It is often these mainstream products, particularly credit cards, where we see problematic levels of interest and charges, and therefore would like to see more consistent intervention to help those experiencing financial difficulty. To read our full response, click on the link below.Read the full document here
13 February 2017
HM Treasury and the Department of Work and Pensions (DWP) are conducting a review to decide the future for public financial guidance. Building on groundwork laid by the Money Advice Service (MAS), Pension Wise and The Pension Advisory Service (TPAS), they are proposing to bring money, debt and pensions guidance together under a new Single Financial Guidance Body (SFGB). As a key player in the debt advice industry, CAP has responded to the consultation to welcome the proposals for a SFGB, which has the potential to deliver complex advice in order to fulfil consumer needs, such as pensions advice alongside debt advice. We stressed, however, that HM Treasury and DWP must ensure the SFGB meets consumers’ needs in practice.Read the full document here
26 January 2017
The Financial Conduct Authority (FCA) has released a consultation called Our future mission. This document seeks to engage the financial industry and help shape their business plan for the year. We have released our response, providing feedback on specific aspects such as consumer protection and the FCA’s approach to intervention. We welcomed the FCA’s desire to become more transparent and endorsed the idea of sharing lessons learnt within the industry, as well as increasing protection for vulnerable consumers. To read the full response, click on the link below.Read the full document here