Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that people who (a) rely on cash and (b) choose to use cash can access it in North East Somerset and Hanham constituency.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses.
The Financial Conduct Authority (FCA) assumed regulatory responsibility for access to cash in September 2024. Its rules require the UK’s largest banks and building societies to assess the impact of a closure or material alteration of a relevant cash withdrawal or deposit facility and put in place a new service if necessary. Assessments are undertaken by LINK, the industry designated coordinating body responsible for conducting cash access assessments. LINK take into account a number of factors including those unique to each location, such as the size and vulnerability of the population and whether it is reasonable for people to travel to nearby facilities, factoring in geographic barriers such as hills, rivers and major roads.
The Government is working closely with industry to roll out 350 banking hubs across the UK by the end of this Parliament. These hubs will provide small businesses and individuals with critical cash and in-person banking services. Over 225 banking hubs have been recommended to date and over 150 are already open.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many adults who are eligible for the Child Trust Fund have not accessed their fund in North East Somerset and Hanham constituency.
Answered by James Murray - Exchequer Secretary (HM Treasury)
Information on Child Trust Funds is available in HMRC’s Annual Savings Statistics.
https://www.gov.uk/government/statistics/annual-savings-statistics-2024
HMRC does not hold information on the geographical locations of Child Trust Fund account holders, therefore the requested constituency breakdown cannot be provided.