Banking Hubs: Rural and Post-Industrial Communities Debate
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Adrian Ramsay
Main Page: Adrian Ramsay (Green Party - Waveney Valley)Department Debates - View all Adrian Ramsay's debates with the HM Treasury
Banking Hubs: Rural and Post-Industrial Communities
Adrian Ramsay Excerpts(1 day, 9 hours ago)
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Ann Davies
I promised the hon. Member for Waveney Valley that he could intervene on me, and that will be my final intervention. I am so sorry.
Adrian Ramsay
I was waiting for the appropriate point to pre-empt the fact that the hon. Lady is clearly talking about banking hubs in rural areas. In my constituency of Waveney Valley, the market town of Bungay has been told that it cannot have a banking hub because there is already one seven miles away in Harleston, but of course in rural areas, proximity does not necessarily mean accessibility when it comes to travel times or public transport access. Does the hon. Lady agree that, in determining the criteria for banking hubs, real accessibility in rural areas needs to be accounted for, and there needs to be flexibility in the system to achieve that?
Ann Davies
Absolutely. The data is there for all.
The closures disproportionately impact less populated areas, as the distance to travel to bank branches is greater. For instance, data from 2008 to 2018 show that the greatest increases in travel distance to the nearest bank branch were in Montgomeryshire, Clwyd South, Arfon, Dwyfor Meirionnydd, and Brecon and Radnorshire. Those rural and less populated areas also tend to have older populations and less reliable internet, and experience the unique nature of rural poverty.