ABy encouraging wider access to banking and credit services
BBy directly controlling the interest rates lenders charge on mortgages
CBy providing guaranteed returns on pension savings
DBy overseeing competition in retail financial markets
EBy issuing government bonds
✓ Correct answer: A. By encouraging wider access to banking and credit servicesGovernment policy drives programmes that broaden access to basic banking, credit, and financial literacy, with a focus on those who are currently underserved.
Why the other options are incorrect:
• By directly controlling the interest rates lenders charge on mortgages: Mortgage lending rates are influenced by the Bank of England and set by individual lenders, not determined directly by the Government.
• By providing guaranteed returns on pension savings: Pension returns are subject to market performance and are not guaranteed by the Government.
• By overseeing competition in retail financial markets: Retail market competition is overseen by the CMA, which is separate from financial inclusion initiatives.
• By issuing government bonds: Government bonds are issued to fund public expenditure and are unrelated to financial inclusion policy.
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