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Asset-based welfare: financialization or financial inclusion?

Prabhakar, Rajiv (2013). Asset-based welfare: financialization or financial inclusion? Critical Social Policy, 33(4) pp. 658–678.

URL: http://csp.sagepub.com/content/early/2013/06/03/02...
DOI (Digital Object Identifier) Link: https://doi.org/10.1177/0261018313483491
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Abstract

‘Asset-based welfare’ was one of the social policy innovations of the last Labour government in the UK. A recent financialization critique suggests policies such as the Child Trust Fund were aimed at creating subjects for financial markets. This paper argues that the focus on New Labour in Westminster overlooks the way that the Welsh government tried to shape asset-based welfare in different directions. This is emphasized as part of efforts to boost financial inclusion, that is the access that those on low incomes have to mainstream financial services. The Welsh government placed more weight on this alternative financial inclusion agenda by boosting progressive universalism and encouraging the delivery of assets through credit unions. Welsh efforts though were constrained by both the ideology and austerity programme imposed from the centre.

Item Type: Journal Item
Copyright Holders: 2013 The Authors
ISSN: 1461-703X
Extra Information: 21 pp.
Keywords: Child Trust Fund; credit unions; progressive universalism; Welsh government
Academic Unit/School: Faculty of Arts and Social Sciences (FASS) > Social Sciences and Global Studies > Economics
Faculty of Arts and Social Sciences (FASS) > Social Sciences and Global Studies
Faculty of Arts and Social Sciences (FASS)
Research Group: Innovation, Knowledge & Development research centre (IKD)
Related URLs:
Item ID: 37744
Depositing User: Rajiv Prabhakar
Date Deposited: 11 Jun 2013 07:55
Last Modified: 06 Aug 2019 08:45
URI: http://oro.open.ac.uk/id/eprint/37744
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