Oral Answers to Questions

Toby Perkins Excerpts

Tuesday 2nd July 2019 Commons Chamber

[John Glen]

Of course small businesses receive that relief. The Chancellor will have heard that representation for the next fiscal event, but it is not a matter that I can comment on specifically at this point.

[Toby Perkins (Chesterfield) (Lab)]

11. What discussions he has had with the high street banking sector on closures of the last bank in (a) Staveley, Derbyshire and (b) towns throughout the UK.

[The Economic Secretary to the Treasury (John Glen)]

While branch closures are commercial decisions for banks, I regularly engage with all key stakeholders on this issue and I recognise that it can be very difficult for some constituents, particularly if a branch is the last one in a community. The major banks have signed up to the access to banking standard, overseen by the Lending Standards Board, and that commits them to work with communities to minimise the impact of branch closures.

[Toby Perkins]

When the Government bailed out the banks, it was partly in recognition of the fact that banks were public services as well as profit-making businesses. I am disturbed—as will be the people of Staveley—by the Minister’s hands-off approach. Do not the Government either need to sit down with the banks and ensure they have a real commitment to having a bank branch in towns such as Staveley or adopt Labour’s proposal for a post bank so that we can have some Government control to make sure we have services where they are desperately needed?

[John Glen]

I have looked into the situation in Staveley and it will be served by a mobile bank following the closure. The post office, where a 24-hour ATM is available, is just a six-minute walk from Lloyds. The number of people visiting the counter at Lloyds bank in Staveley fell by 22% in the last year, so it is understandable why Lloyds has made that decision. The Government’s investment in the Post Office and its banking services facility is our solution.