Bank Branch Closures
Debate between Martin Docherty-Hughes and Lucy Frazer(2 years, 9 months ago)
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The Financial Secretary to the Treasury (Lucy Frazer)
It is a privilege to respond to this debate on behalf of the Government. I congratulate the hon. Member for Airdrie and Shotts (Ms Qaisar) on securing her first Adjournment debate on an issue on which she has been vocal and campaigned hard. My hon. Friend the Economic Secretary to the Treasury takes the issue of bank closures very seriously, and he would have represented the Government’s position here today were he not on ministerial business abroad.
The hon. Member for Airdrie and Shotts talked about the importance of people going into banks. The reality is that the way that consumers engage and interact with their banks is changing, with increasing numbers using digital services to manage their affairs. It was interesting to hear her talk about her own experience and that of her generation in terms of how people are now accessing their money.
Martin Docherty-Hughes
The reality is that the experience of those states that have moved to a digital framework, such as Estonia, highlights the fact that this transition needs to recognise those who find it most difficult. Therefore, we need to be in a position where people who still use cash are able to do so whenever they need to.
Lucy Frazer
The hon. Member makes an important point. I will come on to the ways in which we are ensuring that those who need to access a physical location are indeed able to do so.
According to UK Finance, as of 2019, half of adults in this country used mobile banking. In the 12 months to February 2020, half of adults with a day-to-day bank account carried out their banking activities face to face in-branch, down from almost two thirds— 63%—just three years earlier. The Government want to ensure that people have appropriate access to banking services, and the transition towards digital banking brings many opportunities for individuals and businesses. It is our view that the Government cannot and should not seek to reverse the changes we are seeing in the market and in customer behaviour. Nor should the Government determine firms’ commercial strategies in response to these changes. Having the flexibility to respond to changes in the market is part of what made the UK’s financial services sector one of the most competitive in the world, and the Government want to protect that success.
Draft Customs Safety and Security Procedures (EU Exit) (No. 2) Regulations 2021
Debate between Martin Docherty-Hughes and Lucy Frazer(3 years ago)
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Lucy Frazer
I am happy to answer that point and those made by my right hon. Friend at the same time. We need to bring in the checks, as well as the staged controls, which we committed to in January, because we are required to do so for customs in the round under the terms of our arrangements. I was addressing the element of security risk. As we are simply maintaining the status quo, there is no additional risk in continuing that arrangement.
I will touch on border security more broadly in terms of migration. Border Force regularly reviews its capacity, plans and resources, and it deploys and recruits staff when necessary to maintain border security. The reason why we are not bringing in and extending those arrangements at this time is simply to do with timing and the disruption that has hit businesses so far.
The hon. Member for West Dunbartonshire mentioned a whole range of issues that really relate to Brexit as a whole. That decision has passed; we have left the EU and we are now dealing with the arrangements that we need to bring in as a result of that decision.
Martin Docherty-Hughes
The Minister must recognise the point made by the OBR. Also, GB may have left the European Union, but Northern Ireland has full access to the single market.
Lucy Frazer
As the hon. Gentleman knows, one of the arguments put forward at the time of the referendum was about the opportunity to trade not only with the EU, but outside the EU. He will know that we have entered into more than 60 trade agreements with partners across the world, and that trade with those countries is encouraging. For all those reasons, I comment the draft instrument to the Committee.
Question put and agreed to.