Bank Closures: Rural Areas

Jayne Kirkham Excerpts

Monday 24th February 2025 Commons Chamber

[Simon Hoare]

The hon. Lady is again absolutely right. Surely it makes good commercial sense for high street banks, as we used to call them—increasingly, they are not particularly high street banks—to be able to tout their wares to existing or potential customers. That is how to generate business: by having a presence. A hub makes a very good presence for them all, but they seem to move at the speed of the slowest, and if one is not particularly convinced, the whole thing sort of seems to fall down. I know that the Government are trying to do more on that, but I think they could do even more to turbocharge it.

[Jayne Kirkham (Truro and Falmouth) (Lab/Co-op)]

Falmouth is to have a banking hub. We are losing our last bank; Lloyds is going at the end of the year. The interesting thing about that is that the banking hub will be open 9 to 5, five days a week—and potentially even more—whereas the banks were very slowly cutting their opening hours after covid, and it was hard to find a bank outside school hours. That of course did not help rural businesses, which could not get there in time.

[Simon Hoare]

The hon. Lady is right. The cynic might suggest that the opening hours were set in order to try to deliberately reduce footfall—possibly. That might be hugely cynical, and if it is, Madam Deputy Speaker, I will plead guilty as charged.