Cash Infrastructure

Baroness Wheatcroft Excerpts

Monday 19th July 2021 Lords Chamber

[Baroness Penn (Con)]

My Lords, the Government are committed to ensuring that all individuals have access to financial products, including a bank account, but the DWP recognises that some customers may be genuinely unable to open or manage a bank account. For those customers, payment is made via the payment exception service. My understanding is that this may already be available to a wider set of customers than the noble Lord referred to, but I will take up this point—as it is a very good one—with the DWP and get back to him.

[Baroness Wheatcroft (CB)]

My Lords, today another 12 sub-postmasters have had their convictions for fraud overturned, so would this be a good time for the Post Office to salvage its reputation by relaunching as a mutual with a cause of providing cash and the other services that communities need? Would the Minister agree with me that the “people’s bank” could be a useful step towards levelling up?

[Baroness Penn (Con)]

My Lords, I think I join noble Lords across this House in being shocked at the outcome of these cases and the ongoing issue. The Post Office has an incredibly important part to play in the provision of access to cash and free-to-use access to cash. The Government’s intention is that that role will continue.