Oral Answers to Questions

Debate between Bim Afolami and Philip Davies

Tuesday 19th December 2023 Commons Chamber

[Bim Afolami]

First, it is worth stating that, as the hon. Gentleman knows, the decisions on whether to open or close branches are commercial ones, and the Government do not interfere with that. However, we have legislated to protect access for cash. The banks need to abide by the Financial Conduct Authority’s guidance, with the latest guidance published only last week. In relation to shared banking hubs, we should indeed increase the pace at which they are rolled out, and I am talking with the industry about how to do that.

[Philip Davies (Shipley) (Con)]

It is pretty clear that most legacy banks do not give a stuff about their customers and just want to screw as much money out of people as possible. After the scandal of Coutts’s debanking of Nigel Farage, the Government acted swiftly to try to make that much more difficult for other customers, but many businesses face the same problem. What will the Government do to stop businesses being debanked in the same way as individuals?

[Bim Afolami]

I am not sure that I quite accept my hon. Friend’s characterisation of the banking industry, but I am happy to meet him and discuss the problems he outlined in relation to specific businesses and access to bank accounts.