Fair By Design (FBD) is a movement dedicated to reshaping essential services so they don’t cost more for low income consumers. The poverty premium is where people on low incomes pay more for a range of essential products and services such as energy, credit, and insurance. This is the poverty premium – the extra costs of being poor, and is a driver of poverty. High costs sweep people into poverty and the poverty premium prevents them from keeping their head above water.
Fair By Design is made up of a campaign and a venture fund. The campaign’s vision is of a UK where poor and low income people pay a fair price for essential services. It aims to achieve this by influencing the activity of regulators, policymakers, and businesses. Read its strategy here. The venture fund provides capital to help grow new and scalable businesses that are innovating in the market.
The campaign is managed by the Barrow Cadbury Trust, and the venture fund is managed by Ascension Ventures. Fair By Design was conceived by the Joseph Rowntree Foundation (JRF) and Big Society Capital (BSC) working in partnership. Additional grant funding for the Campaign has already been committed by Comic Relief, Big Lottery Fund, The Tudor Trust, JRF, and Trust for London. 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 the Campaign. Fair By Design has also partnered with Toynbee Hall to embed lived experience in the work of the campaign and venture fund. The FBD Campaign team includes Martin Coppack, Director, Carl Packman; Head of Corporate Engagement and Sohaib Malik; Policy and Communications Officer.
Find out more about Fair By Design.