Financial Services and Markets Bill (Second sitting)

Debate between Siobhain McDonagh and Sally-Ann Hart

Committee stage
Wednesday 19th October 2022 Public Bill Committees

[Sally-Ann Hart]

Q So you are not necessarily specifying a mileage.

Paddy Greene: We need to acknowledge that if, let’s say, you came down to a certain kilometre base that might sound reasonable in broad terms, it would under-serve some communities, so we need to be alive to that.

[Siobhain McDonagh (Mitcham and Morden) (Lab)]

Q I thank Which? for all the work it has done about the imperative of free access to cash. I do not think any of us are surprised that the Post Office announced that it had £3.45 billion taken out in cash in August, which is the highest figure since its records began. Does the Bill ensure that people will have free access to cash, or is there a need for an amendment to be very specific about that?

Paddy Greene: I think we need to be specific about the need for consumers to have free access to cash. I have concerns that the Bill could be interpreted in a way that undermines those objectives. We absolutely welcome the provision of cash legislation and I am very happy to see it here, but this is our opportunity to get it right. Consumers need confidence that they will have free access.