Declares that the closure of both the Barclays and NatWest branches in Sedbergh would leave the town without any bank branch, causing an inconvenience for small businesses, vulnerable residents and the community of Sedbergh.
The Petitioners therefore request that the House of Commons urges the Government to encourage the Chief Executives of both Barclays and NatWest to retain their branches in Sedbergh.
And the Petitioners remain, etc.—[Presented by Tim Farron, Official Report, 3 February 2015; Vol. 592, c. 245 .]
[P001424]
Observations from the Chancellor of Exchequer:
The Government thank the hon. Member for Westmorland and Lansdale (Tim Farron) for his petition on the closure of the Barclays and NatWest branches in Sedburgh.
The Government are sorry to hear about the disappointment that the closure of the local NatWest and Barclays bank branches has caused to residents of Sedbergh.
Improving access to banking is a key part of the Government’s long-term economic plan. The Government continue to engage actively with the banking industry and consumer groups on these matters. Recently, the Economic Secretary for the Treasury has chaired a series of roundtable meetings alongside the Secretary of State for Business Innovation and Skills on access to banking. The UK’s banks and building societies have been tasked with enhancing and improving awareness of the banking services available through the Post Office.
Many bank account providers already have an arrangement with the Post Office to provide access to their bank accounts, where customers can withdraw money, deposit cash and cheques and check balances at all 11,500 Post Office branches in the UK.
While the range of services offered by the Post Office may be more limited than that offered in a traditional bank branch, the services provided through the Post Office’s extensive network ensures that essential banking facilities remain available in as many communities as possible. This Government have committed almost £2 billion to protect and modernise the Post Office network.
Although we can understand local residents’ concern, decisions on opening and closing agencies are taken by the management team of each bank on a commercial basis. As with other banking service providers, Barclays and NatWest need to balance customer interests, market competition, and other commercial factors when considering their strategy and the Government do not seek to intervene in these decisions.