Banking Hubs

Debate between Rachel Blake and Suella Braverman

Wednesday 20th May 2026 Commons Chamber

[Rachel Blake]

I disagree—I think that the hon. Gentleman goes too far in his criticism of the criteria. It is important that the Government continue to monitor how these banking hubs are assessed and the need for them.

I will close by talking about—

[Suella Braverman (Fareham and Waterlooville) (Reform)]

Will the Minister give way?

[Rachel Blake]

I am going to make a little bit of progress now, because we do not have much time. Despite the important progress that we have heard this evening about the number of banking hubs that have been set up—a commitment to 275 with 235 already delivered—it would be premature to conclude that all people and communities are receiving support with their banking needs. Decisions to close bank branches are ultimately commercial decisions taken by banks and building societies, and reflect some of the changes in the way people choose to bank.

[Suella Braverman]

Will the Minister give way?

[Rachel Blake]

I have to finish now. I welcome the commitments that firms have made to maintain or improve their existing branches, recognising just how important they are to their customers. There are already some rules and obligations for firms that are changing their branch networks, which they must take very seriously. All Members should know that those decisions must be taken with regard to the impact on customers and communities. I underline that banks and building societies are expected to put appropriate alternatives in place ahead of closure, and where they fall short of those expectations, the FCA can and will ask for closures to be paused.

[Suella Braverman]

Will the Minister give way?