Royal Bank of Scotland Branch Closures

Debate between Michael Shanks and Bim Afolami

Tuesday 14th May 2024 Westminster Hall

[Bim Afolami]

I thank the hon. Lady for her point. On the notification of closures, banks and building societies are required to provide customers with at least 12 weeks’ notice, a summary of the firm’s analysis of customer needs —including those who use the branch—and information on how to continue accessing services after the closure. Firms should also provide the support that customers will need to transition to channels such as digital or telephone services. I want to be clear that the support is not just saying, “You need to go and do this.” Firms are meant to provide support, and the impact of any planned closures on their customers must be carefully considered. Any firm that does not adhere to that is not doing its duty.

[Michael Shanks]

I wonder if the Minister could look at the statistics, because I think some of the statistics used by the banks have been quite misleading. On the question of banking hubs, we have one in Cambuslang in my constituency, which is a fantastic resource, but it is there because all the banks closed. When the Royal Bank of Scotland in Rutherglen closes, I want to avoid all the other branches closing. Banking hubs are a useful tool to have in the community, but does the Minister agree that keeping the branches open would be even better for people?

[Bim Afolami]

The answer is that sometimes keeping branches open makes sense and sometimes it does not. I cannot say from the Dispatch Box that in every instance it is right to keep all branches open, because the rate at which people are moving online is very rapid. Sometimes it does not make sense, but sometimes of course it does. It is that judgment that the firms have to make independently and commercially. We do not want to live in a world where Government Ministers determine which branches close and open across the country—I do not think that is sensible. It is important that those are independent commercial decisions.

Oral Answers to Questions

Debate between Michael Shanks and Bim Afolami

Tuesday 14th November 2023 Commons Chamber

[Bim Afolami]

I thank the shadow Minister for his kind words, at least in relation to me.

It is important to recognise that in the eurozone, the United States and the UK there have been broadly similar increases in inflation and interest rates. We as a Government are confident that our policies will bring those down in due course.

[Michael Shanks (Rutherglen and Hamilton West) (Lab)]

17. Whether he has had recent discussions with the Secretary of State for Scotland on the impact of increases in the cost of living on the Scottish economy.