Bank Closures and Banking Hubs

Harriett Baldwin Excerpts

Thursday 5th June 2025 Commons Chamber

[Ian Lavery]

Of course it is a cynical approach. The banks do not want to be on the high street. They do not want to be supporting local communities—the very same communities that have supported the banks through the darkest of times. That is the reality, and that is why this debate is so important. We need more regulation to support people in their communities.

[Dame Harriett Baldwin (West Worcestershire) (Con)]

The hon. Gentleman is making a powerful speech. When the last bank in town closes in communities such as Tenbury Wells and Pershore, it is a cumbersome process for them to qualify for a banking hub. He mentioned the role of the regulator. Does he agree that when the last bank in town closes, a banking hub ought to be provided automatically?

[Ian Lavery]

There is definitely room for discussion in that respect. We have got to make sure that people have financial services on the high street. It is pretty simple.

Link assesses the consequences of bank closures, but its objectives are directed by the FCA requirements, and basically, it can only assess a community based on access to cash—nothing else. No other social discussions take place; it is just based on access to cash.