Face-to-face Banking Services

Debate between Baroness Ritchie of Downpatrick and Lord Wilson of Sedgefield

Thursday 18th June 2026 Lords Chamber

[Lord Wilson of Sedgefield (Lab)]

We do not want to see retail banking declining further. We need to take into consideration the changing way in which people use their banks. A lot of banking is now online, but a lot of people still need access to a banking hub, a bank on the high street, or a post office. We need to make sure that all the points the noble Lord raises are taken into consideration.

[Baroness Ritchie of Downpatrick (Lab)]

My Lords, as part of the banking review, can my noble friend the Minister outline what help can be given to credit unions? They are a form of banking that provides face-to-face services, particularly to those in disadvantaged communities. I note that there is a section in the Financial Services and Markets Bill that could help their further development.

[Lord Wilson of Sedgefield (Lab)]

The noble Baroness is absolutely right about the part of the Financial Services and Markets Bill that refers to credit unions. We want to expand the use of credit unions. About 1.5 million people across Great Britain use credit unions or financial co-ops. Our reforms will make it easier for the 220 credit unions in Great Britain to attract more members, allowing millions more people to potentially benefit from the expansion. This supports the Government’s ambition to double the size of the mutual sector, as credit unions are deeply embedded in their communities. I know that the role of credit unions is devolved in Northern Ireland, but I also know that the Treasury has been speaking to the Executive about what we intend to do in the rest of Great Britain. In Northern Ireland, there are over 100 credit unions.

Hydrogen and Fuel Cell Industry

Debate between Baroness Ritchie of Downpatrick and Lord Wilson of Sedgefield

Wednesday 19th November 2025 Lords Chamber

[Lord Wilson of Sedgefield (Lab)]

I thank the right reverend Prelate for that question. We are investing in trying to produce as much green hydrogen as we possibly can. It is a key area of hydrogen production, and we want to ensure that everything that we do is going to be carbon-neutral. Obviously, that is the kind of hydrogen that we want to produce.

[Baroness Ritchie of Downpatrick (Lab)]

My Lords—

--- Later in debate ---

[Lord Wilson of Sedgefield (Lab)]

I thank the noble Earl for that question as well. Obviously, we will publish the strategy when we are ready to do so, and we want to press ahead with that. We want to make sure that the money we spend on investment takes the industry in the right direction. We are offering surety, first, by looking at the strategy and, secondly, by meeting the industry next week and by taking this issue seriously with all the investments that we are making at the moment.

[Baroness Ritchie of Downpatrick (Lab)]

My Lords, building on the Government’s recently published carbon budget growth delivery plan, what further measures are the Government currently taking to support the growth of domestic hydrogen supply chains to reduce the UK’s reliance on imports of hydrogen and fuel cell technologies?

[Lord Wilson of Sedgefield (Lab)]

I thank my noble friend for that question. Obviously, homegrown hydrogen is the way forward. The Government are considering expanding the clean industry bonus to hydrogen and will consult on proposals and publish the hydrogen strategy in the future. The UK is well placed to develop a thriving hydrogen technology, with the £1 billion Great British Energy supply fund and the £5.8 billion National Wealth Fund. We want to establish the first hydrogen network by 2031 with £500 million of government support. We are doing everything we can to make sure that this industry flourishes.

Barnett Formula: Wales

Debate between Baroness Ritchie of Downpatrick and Lord Wilson of Sedgefield

Wednesday 12th November 2025 Lords Chamber

[Lord Wilson of Sedgefield (Lab)]

The noble Baroness raises a very important issue, and I hope it is something that the ministerial meeting at the beginning of next year will look at. I like to think that all aspects of the Barnett formula, including the issues that the noble Baroness has raised, will be looked at in the round, because obviously we want to see efficiency in all our public departments.

[Baroness Ritchie of Downpatrick (Lab)]

My Lords, Professor Holtham’s independent review, published in June this year, suggested that Northern Ireland’s needs-based factor might be higher than the 124% used in the current formula. We are all aware that the Barnett formula for the three nations and regions is deeply unfair. Therefore, will my noble friend, in talking with the Chancellor and Treasury colleagues, give adequate reflection to the need for a total review of the Barnett formula to reflect the need for needs-based assessment and also for fairness and equity?

[Lord Wilson of Sedgefield (Lab)]

I thank my noble friend for that question. I repeat that this is the largest spending review settlement received by the Northern Ireland Executive in real terms since devolution started in 1998. The Northern Ireland Executive are receiving at least 24% more per person than equivalent UK government spending in the rest of the UK, an average of £19.3 billion per year between 2026-27 and 2028-29.