Our refreshed strategy sets out the direction of Fair By Design over the next 5 years. It outlines our key priorities, the stakeholders we will work with along the way, and how we will measure success.  

Our vision – a UK where poor and low income people pay a fair price for essential services – is embedded throughout the strategy. Put simply, we want to see the poverty premium eliminated by 2028. 

The effects of the cost-of-living crisis and the COVID-19 pandemic over the last few years have been felt most severely by people on low incomes. As we look forward, we want to see a future where essential services like energy, credit and insurance don’t cost more if you are poor or living on a low income.  

Nearly a quarter of British households (24%) are estimated to experience at least one type of poverty premium. In addition to this, our own research has shown low-income families in the poorest neighbourhoods can pay up to £541 a year more than affluent households for the same basic services such as energy and insurance.  

This strategy reflects many of the key principles on which Fair By Design was founded in 2017: 

Strategic: We will continue to collaborate with Government, regulators and business so that poorer and low income people pay a fair price for essential services due to changes they make.  

Inclusive design: We will continue work to ensure that everyone can access the products and services they need, designing out barriers to access that create exclusion, inequality and unfairness in markets. We will work alongside those with lived experience of the issues, with their voices being central to what we do. 

Collaboration: We recognise that we can achieve more change by working with others. Our biggest successes have happened when we collaborate. Whether working with other organisations on the energy social tariff campaign or supporting the creation of the No Interest Loans Scheme, we know we can create structural change together.  

Martin Coppack, Director of Fair By Design, said: 

“Our strategy reflects the continued need for Government, regulators and industry to take action on the poverty premium. We are committed to helping those impacted so it doesn’t cost more to be poor. 

“Whether it’s prepayment meters or insurers charging more because you live in a certain postcode, we are working towards a UK where everyone pays a fair price for essential services. 

“Ultimately we want to see long-term, sustainable solutions, so that low income consumers can access the products and services they need at a price they can afford. This strategy is part of bringing about this change.”   

You can read our full strategy here.