Business and Trade Committee Debate
Full Debate: Read Full DebateDepartment: Department for Business and Trade
Andrew George
Main Page: Andrew George (Liberal Democrat - St Ives)Department Debates - View all Andrew George's debates with the Department for Business and Trade
(1 day, 4 hours ago)
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Andrew George (St Ives) (LD)
I congratulate the right hon. Member on the report. As I am sure he knows, I responded to his request for comment. My question is about the security of financial services. He says that diversification is one of the solutions to the risk of cyber- attack. My worry is that, if we put all our eggs into the basket of an increasingly electronic-based financial services market where high street banks retreat behind electronic walls, that does not just result in vulnerable and digitally-excluded customers struggling to access financial services, but creates a big national risk. It is a problem for our communities where banks are retreating—in Cornwall, there will be only one Lloyds bank left next year—and for the security of the nation as well.
Emma Lewell (in the Chair)
Order. This is just a reminder that the debate must end at 10 minutes to 2.