Bank of England boss meets Swansea charity fighting child poverty: ‘Economic decisions must hear real families’
Andrew Bailey visited Faith in Families’ Cwtch Mawr Multibank in the city, meeting CEO Cherrie Bija and hearing how rising costs, interest rates and financial pressure are hitting children long before the impact shows up in official statistics.
The visit brought one of the UK’s most powerful economic figures into the heart of a charity that works daily with families struggling to afford the basics.
Staff show Bank of England Governor Andrew Bailey how donated toys, clothing and essentials are organised and distributed through the Cwtch Mawr Multibank. (Image: Faith in Families)
‘Child poverty is everyone’s business’
Cherrie Bija said the meeting was a chance to put the lived experience of Swansea families directly into national economic conversations.
“Child poverty is everyone’s business,” she said. “We have a responsibility to advocate for those who are most vulnerable in our society, especially children, and to make sure their voices are heard at every level.”
Faith in Families supports children facing poverty, trauma and crisis across Swansea Bay, providing everything from emotional support to essential items through its multibank model.
Staff told the Governor how financial strain shows up in children’s lives — in stress, mental health, relationships and a sense of safety — long before it appears in spreadsheets or economic forecasts.
Bank of England Governor Andrew Bailey visits the Cwtch Mawr Multibank in Swansea, speaking with staff about how rising costs are affecting families supported by the project. (Image: Faith in Families)
Interest rates hitting families hardest
The charity highlighted how interest rates shape everyday life: the cost of mortgages and rent, food and energy bills, and whether families feel able to cope or are pushed closer to crisis.
Households already under pressure feel the impact first, they said — and children often carry the consequences.
Bailey’s visit was described as an important moment, bringing frontline experience into discussions usually dominated by markets and monetary policy.
What is Cwtch Mawr Multibank?
Cwtch Mawr is Wales’s first multibank, redistributing surplus goods from businesses to families through trusted frontline organisations. The model aims to support families with dignity while reducing waste and strengthening community‑led responses to poverty.
Faith in Families says it will continue to “stand alongside children and families, advocating boldly for fairness, dignity and the best possible start in life”.
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