Mel Stride
Main Page: Mel Stride (Conservative - Central Devon)Department Debates - View all Mel Stride's debates with the Cabinet Office
(5 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Rosie Cooper (West Lancashire) (Lab)
The Financial Secretary to the Treasury (Mel Stride)
With permission, I will answer Questions 2 and 11 together. Our position on branch closures is clear. These should be commercial decisions, not those for the interference of politicians, but equally, we do recognise some of the difficulties that constituents face when this occurs. That is why we support the access to banking standard, which takes a number of steps both to support and to inform customers in that situation.
Danielle Rowley
RBS often says that, to make up for its pulling out of a town, the local post office will carry out the services. However, in Bonnyrigg in my constituency, the post office has shut as well, and now many businesses fear that they are going to have to close. What is the Secretary of State doing to stand up for local communities in Scotland?
Mel Stride
The hon. Lady raises a specific case of a closure of a post office in her constituency. I believe the Post Office is engaged in that particular matter but, on the general matter of post offices, they do provide a number of financial services, supported by the banking framework agreement, such that 99% of individual customers will have access for their financial needs and 95% of businesses likewise.
Rosie Cooper
Thank you, Mr Speaker. Sorry for the confusion.
Given that RBS is 63%-owned by the taxpayer and the majority of branch closures are in Scotland or the north-west of England, could the Minister tell us: what does the taxpayer get for their money if not banks and banking services?
Mel Stride
The hon. Lady is right to raise the issue of the taxpayer supporting the Royal Bank of Scotland to the tune of some tens of billions of pounds. It is right that the Government therefore expect the bank to show profitability and to come back into economic health. Our overarching principle is that the best way of achieving that is to leave commercial organisations such as the Royal Bank of Scotland to be in charge of their own affairs, rather than subject to political interference from Ministers.
Kirstene Hair (Angus) (Con)
Does my right hon. Friend agree that it was wrong of the Royal Bank of Scotland to turn its back on rural areas such as Angus, specifically when online banking is simply not viable because the SNP Government in Edinburgh have not been fast enough at rolling out broadband?
Mel Stride
My hon. Friend makes an important point about the speed of broadband roll-out. Of course, on the broadband issue, the Government in Westminster have recently made available £1 billion across the UK to stimulate market delivery of fibre and mobile coverage.
Antoinette Sandbach (Eddisbury) (Con)
Like rural Scotland, rural Cheshire has suffered from a number of branch closures that have left constituents without access to services that can be provided only by banks. What can the Minister do to ensure that my constituents can access those services?
Mel Stride
As I have outlined, we support the access to banking standard, but post offices have also received considerable support from this Government and are able to provide a lot of the financial services that individuals and businesses require. In rural areas, for example, 99% of residents are within three miles of the nearest post office.
Hugh Gaffney (Coatbridge, Chryston and Bellshill) (Lab)
Alan Brown (Kilmarnock and Loudoun) (SNP)
The Financial Secretary to the Treasury (Mel Stride)
The Government are entirely committed to the Scottish whisky industry, which exported over 1.2 billion bottles in 2017, raising £4.3 billion for the UK economy. We have provided cuts and freezes in duty since 2013, with the result that the average bottle of Scottish whisky is now £1.19 cheaper than it would otherwise have been.
Alan Brown
Until Brexit, the biggest threat to the growth of the Scotch whisky industry was the right hon. Gentleman’s Department using it as a cash cow. It is absolutely imperative that there is another freeze on whisky duty in the Budget. Can he confirm whether the Secretary of State for Scotland has made representations to Cabinet colleagues to call for a duty freeze?
Mel Stride
The hon. Gentleman has entirely overlooked the considerable support that we have already provided in duty cuts and freezes since 2013—a total of £4 billion. We will continue to support that vital sector, recognising its contribution to both the economy of Scotland and that of the wider United Kingdom.
Douglas Ross (Moray) (Con)
Over the past five years, the Scotch whisky industry has invested over £500 million in capital projects in Moray and across the country. Does my right hon. Friend agree that that shows how important a good Budget for Scotch whisky is for Scotland and the UK economy?
Mel Stride
My hon. Friend is entirely right. That is another example of why we should support the Scottish whisky industry. I have received many representations, not least from Conservative Members who represent Scottish constituencies, standing up for Scottish whisky and making sure that we make the investments we need going forward.
Ian Murray (Edinburgh South) (Lab)
The financial services sector is also critical for the Scottish economy and for my constituents in Edinburgh, but none of the Government’s Brexit plans mention this service sector. What can the Minister say to the financial services sector in Edinburgh, and to my constituents whose jobs depend on it, about the Government’s strategy for the service sector post Brexit?
Mel Stride
If I interpret the question as relating to financial services specifically around whisky, Mr Speaker, the answer will be the same as for financial services generally. The Government are committed to achieving a Brexit deal with the EU27 that is in the interests of this country, that keeps trade flowing and that ensures we have an implementation period that will provide the opportunity for consistency and certainty going forward.