Oral Answers to Questions

Julian Smith Excerpts

Tuesday 8th April 2025 Commons Chamber

[James Murray]

The hon. Gentleman makes an important point: we need to ensure that the wealthiest in society pay their fair share, while also attracting talent from around the world to the UK to work, invest and help to grow our economy. It is on the back of that investment and economic growth that we will make people across the UK better off, and get more money into their pockets.

[Sir Julian Smith (Skipton and Ripon) (Con)]

15. What steps she is taking to ensure rural communities have access to banking hubs.

[The Economic Secretary to the Treasury (Emma Reynolds)]

The Government understand the importance of in-person banking to communities and are working closely with the industry to roll out 350 banking hubs across the UK. More than 220 hubs have already been announced, of which more than 135 are already open.

[Sir Julian Smith]

Rural communities such as Settle in North Yorkshire are really struggling with the loss of face-to-face banking services. Link hubs are one route for them to replace the banks that are closing. I urge Ministers to do what they can with Link—I accept that it is an independent organisation—to help it to relax the criteria for rural communities, allowing them more face-to-face banking services.

[Emma Reynolds]

I would be very happy to meet the right hon. Gentleman if he wanted to discuss a specific banking hub that is being considered. We work very closely with Link. As he will know, his Government passed the Financial Services and Markets Act 2023, under which the Financial Conduct Authority, Link and the financial services sector ultimately have power over the criteria, which is not something we are planning to change.