Fair by Design (FbD) is a movement dedicated to reshaping essential services so they don’t cost more to low income consumers. The Poverty Premium is where people on low incomes pay more for a range of essential products and services such as insurance, energy, and credit. This is the Poverty premium – the extra cost of being poor, and a driver of poverty. The Poverty Premium is unfair but it doesn’t have to be this way: we believe by working together we can end this injustice.
The movement was conceived by the Joseph Rowntree Foundation (JRF) and Big Society Capital (BSC) working in partnership, and operates in collaboration with a range of partners including Barrow Cadbury Trust. Take a look at the Fair By Design road map which describes how to end the Poverty Premium.
Fair by Design campaign collaborates with industry, government, and regulators to design out the Poverty Premium. An investment fund provides capital to help grow new and scalable businesses to innovate the market.
The Trust is hosting and leading Fair By Design, although in time consideration may be given to creating an independent entity. Additional grant funding has already been committed by Comic Relief, Big Lottery Fund, Big Society Capital, Social Tech Trust, The Tudor Trust, and JRF.
Fair by Design is working with:
- government departments and regulators to ensure policy and regulation adequately protect low-income consumers from paying a premium;
- corporates in key target sectors to understand their products and business models, and work with them to develop and roll-out products and services that are designed for low income consumers and
- galvanising public support (including among low income consumers) for these changes through advocacy and campaigning, and showing what’s possible.
BSC, JRF and Social Tech Trust have put £9m into the fund (target £15m to £20m over 10 years).
A Steering Group is providing overarching direction for both the Fund and Campaign. Foundations have also been laid for working with people with experience of poverty and the Poverty Premium. The team includes Campaign Director, Lucie Russell, Carl Packman; Head of Corporate Engagement and Sohaib Malik; Policy and Communications Officer.
Find out more about Fair By Design.