Access to Banking Hubs: Hertfordshire

Stuart Anderson Excerpts

Wednesday 25th June 2025 Westminster Hall

[Stuart Anderson (South Shropshire) (Con)]

It is a pleasure to serve under your chairmanship, Sir Desmond. I thank my hon. Friend the Member for South West Hertfordshire (Mr Mohindra) for securing the debate. Banking hubs are really important in his constituency, as they are in rural constituencies across the country, including mine.

My constituency is 700 square miles of the most beautiful towns and villages, which are a delight. With that beauty and tranquillity come remoteness and lack of connectivity for many people, who can feel isolated. We have seen the decline of the high street bank over years. Some services that we took for granted are no longer available, though they are still of huge importance to local communities.

We recently lost Lloyds banks in Bridgnorth and Ludlow, which is seen as a major loss to both towns. I was quick to launch a survey to find out what residents thought. They were overwhelmingly upset, because they still require face-to-face services and access to cash. We were fortunate that Dudley Building Society came to Bridgnorth recently, opening a branch just opposite my office, but it does not offer the full service of traditional banks, and setting up banking hubs, which is hard to do, is not viable at the moment.

I wrote to many organisations to see what support we could get on our high street. Link came back to me and said it had conducted an assessment—as many Members have said—but it did not recommend any additional services in any of my rural towns. It believed that there was adequate access to cash and banking services for local residents in all those areas. I disagree with that.

Bridgnorth is served by Nationwide and HSBC, while Ludlow has NatWest and Nationwide. However, if people are not with those banks, they are stuck. They might have been with Lloyds for years, only to find that they have to travel to Wolverhampton—or, if they are in Ludlow, to Hereford, which is probably 40 minutes away. That is not suitable for everyone. This is a reactive approach, just watching the decline of our high street. We should change the regulation so that we can be proactive and allow Link to put services into the high street. I do not want to wait for every bank to close before we can get a banking hub. That is not the right approach.

[Joe Morris (Hexham) (Lab)]

I thank the hon. Member for his part in this largely harmonious debate—although I challenge him briefly on which is the most beautiful constituency. I represent a constituency similar to his in many ways. The hon. Member for South West Hertfordshire (Mr Mohindra) registered the point about flexibility and Link. When that situation arises, the impact falls not just on those living within the tightly drawn parameters that Link draws, but on the more rural towns and villages that lie just outside those one-minute, 10-minute or 20-minute commuting distances. A hub would help businesses there, including hospitality businesses. Prudhoe in my constituency has just lost a branch, meaning that businesses have to go often from the borders of County Durham into Newcastle to access their bank of choice. Adding to the flexibility would be incredibly valuable and would grow and benefit the wider rural economy.

[Stuart Anderson]

The hon. Member is right; I said that people have to go 40 minutes from Ludlow to Hereford, but some might take 20 minutes to get to Ludlow. Given the inaccessibility of remote areas and rural towns, the system is not working. When the Minister sums up the debate, I would appreciate it if she could address the issue of how Link assesses access to banking hubs and the criteria used, and if she could tell me what support she can provide to get more banking hubs in South Shropshire.