Bank Closures and Banking Hubs

Jon Trickett Excerpts

Thursday 5th June 2025 Commons Chamber

[Jon Trickett (Normanton and Hemsworth) (Lab)]

The banks have more or less abandoned my constituency, and it sounds like that is the case for many others. Some 6,500 branches have closed in recent years, as have more than 200 post offices. There are 23 separate settlements in my constituency with no access to banking. We do have banking hubs. It is an hour each way by bus to get to one, and it costs at least six quid to get there and back. I represent large numbers of people living in poverty, and it is hard for them to raise that kind of money just to have access to banking services.

I will make two other points about my constituency and then a general point. The bus services are very poor. As I have just said, it can take an hour each way to get to the banking hub, and the banking hub does not provide all the services that a bank should provide.

My other point about my constituency is that there are 15 zones for the internet, and 11 of those 15 zones are among the worst for internet provision in the country. How on earth is someone supposed to access banking on an internet system that is simply not working? It shows the extent to which Britain’s infrastructure is creaking, and it is not acceptable that banks should abandon the people who helped to create them in the first place.

I will just make this final point about mobility and accessibility. One in four households in my constituency has no access at all to a vehicle. That is more than 20,000 people without a van or a car to get them to a bank, even if a bank were available. It is a disgrace that the banks have turned their backs on all those people who were their loyal customers for so many years. Businesses that rely on cash and collect cash each day have nowhere to deposit it. People are driving home from their place of work or their business with cash in the boot and nowhere safe to put it. That is a dangerous thing.

It is odd, ideologically, to hear Members from the party of free enterprise and the free market saying, “We have to do something about capitalism withdrawing from communities.” That is what is happening, and that is the nature of capitalism itself. We should just say that the financial sector in this country is worth £17 trillion, which dwarfs our GDP of £2.5 trillion. The banks are worth eight times more than the total output of the whole UK. As we have heard elsewhere, £44 billion of profit has been made by the banks in recent years. It is time we brought the banks to order to serve our communities—

[Madam Deputy Speaker (Ms Nusrat Ghani)]

Order. I call Helen Morgan. [Interruption.]

Regional Growth

Jon Trickett Excerpts

Wednesday 4th June 2025 Commons Chamber

[Darren Jones]

Of course, the announcement today is on funding for combined authority mayors, which is why the west of England combined authority mayor has received two-thirds of £1 billion of transport investment for areas that are part of that boundary. We are still committed to investing in each and every part of Britain, and the details of that will come out in the spending review next Wednesday. I remind the right hon. Gentleman that the Government have said to other parts of the country that if they can get together and agree on a combined authority mayoralty, we will continue to support it in the same way that we support the existing mayors in the UK. It will be for local leaders in the region that he and I come from to decide how best to collaborate on these issues going forward.

[Jon Trickett (Normanton and Hemsworth) (Lab)]

It is more than 30 years since I was the leader of Leeds city council and made the first proposal for a rapid transit system in that area of West Yorkshire, so I welcome today’s announcement, although it will be a couple of years before the building starts. During the 14 years of Tory Government, the average amount of money per head spent in London was three times larger than the amount of money spent per head on transport in Yorkshire. Of course we want a successful capital city, but that has left the coalfield communities that I represent in real difficulty, with low investment and low productivity. Our wages and salaries are £12,500 per head less than those received on average in the north of London. Will the Minister assure the House that we will look again at funding the regeneration of coalfield communities in the near future?

[Darren Jones]

I thank my hon. Friend for his question and his campaigning over many years. As the Chancellor set out today in her speech on the funding for city regions, and as was set out in our review of the Green Book, we are purposefully tilting funding towards the north and the midlands after many, many years of those areas losing out, with a tendency for money to come more into London and the south-east. London and the south-east are still important, but we recognise the historical injustice in the distribution of investment across the country, whether it is low ratios in the east midlands, low funding in the south-west or decades of being overlooked in the north. That is why this announcement is really important. I reassure my hon. Friend that I understand from the mayor that work will begin on the projects announced today in 2028, with an ambition for the first services to be available from the mid-2030s.

Fiscal Rules

Jon Trickett Excerpts

Monday 28th October 2024 Commons Chamber

[Darren Jones]

I obviously cannot speculate on the Budget, so I invite the hon. Gentleman to come back to the House on Wednesday for the answer to the first part of his question. On the second part, he might know that I lead for the Government on our relationship with the devolved Governments. I have met Finance Ministers from Scotland, Wales and Northern Ireland, most recently in Belfast, where we had a productive meeting. They were all very clear that the reset in the relationship between them and the Westminster Government was positive, given the failed relationships of the past. We made some progress in that meeting, and we will make further such progress in the Budget.

[Jon Trickett (Normanton and Hemsworth) (Lab)]

Is it not clear that the ruling economic orthodoxy has let this country down over many years? How else can we explain the fact that in 24 of the last 30 years, the UK spent less on investment than any other G7 country? In particular, in post-industrial areas like mine, the investment simply did not come. I encourage the Minister to break with the prevailing orthodoxy and ensure that we achieve the appropriate investment levels and direct that investment particularly to the north, the midlands and elsewhere.

Public Spending: Inheritance

Jon Trickett Excerpts

Monday 29th July 2024 Commons Chamber

[Rachel Reeves]

The challenge of productivity sits across both the public and private sectors. In the last 14 years, productivity has flatlined in the public and private sectors and we need to boost both. We need to boost productivity in the public sector to ensure that we get better value for money for our public services, but we also need to improve productivity in our private sector so that we can improve living standards and have the money for our public services.

[Jon Trickett (Normanton and Hemsworth) (Lab)]

I welcome the Chancellor’s statement about public sector pay, but is it not clear that, after savaging public services, holding down public sector pay and driving 3 million people into food banks, this crazy ideological austerity programme of the Tories has failed massively while at the same time, the richest 250 people in the country gained wealth of £500 billion? Can I tempt the Chancellor to say that, while we accept that there are hard decisions to make, we reject the ideological commitment to this form of Tory austerity?

[Rachel Reeves]

I thank my hon. Friend for that question. We do owe it to our armed forces, our prison officers, our police officers, our nurses and our teachers to reward them properly for their work, and that is what we did today in implementing in full the recommendations of the pay review bodies. I echo his view that a return to austerity would be no way to run our economy. It resulted in growth haemorrhaging in the last Parliament, with all the damage that that did to living standards and to the money for our public services.