the development of alternative institutions that, while economically stable, are not solely motivated by profit-seeking [ONLY IF TIME] Universal vs/ Targeted policies. -So far I have explained how and why financial inclusion is crucial for securing economic independence and wellbeing for ethnic minorities\ -I would like to conclude on a topic that many distinguished speakers have already raised, and that relates to the topic of this session (affirmative action) and another key recommendation, namely data collection. -This is the question of targeted vs. universal policies to respond to disadvantage. As elsewhere, it is sometimes argued in the UK that the reason why ethnic minorities are disadvantaged is the same as why white British people are disadvantaged, namely on account of their poverty or poorer educational attainment or employment prospects. Many therefore recommend universal policies to benefit ethnic minorities and all low income people. -2 responses: first, is that just because lower educational attainment or regional location correlates with economic and social exclusion, we HAVENT said that discrimination isn’t a prior cause for that lower educational attainment or regional location in the first place. -Second: while in many EU countries data collection is constitutional unlawful, in the UK we have collected official data on ethnicity since 1991. This has allowed social scientists to ‘control’ for such considerations as qualifications and other circumstances. Researchers have found that only half of the existing ethnic disadvantage in the UK can be explained by these socio-economic factors. -This suggests two conclusions: first, that data collection is indeed important for understanding the nuances of socio-economic disadvantage for minority groups. Second, that targeted policies may be the only way of responding to continuing evidence of ethnic disadvantage, especially where that disadvantage cannot be fully explained by non-ethnic socio-economic factors. 7. Thank you.