Tim Farron
Main Page: Tim Farron (Liberal Democrat - Westmorland and Lonsdale)Department Debates - View all Tim Farron's debates with the HM Treasury
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Lucy Rigby
As my hon. Friend knows, I have been very sorry to hear of the difficulties of those affected by the withdrawal of that product. I pay tribute to her for all her efforts and those of her colleagues. They are doing everything possible to assist constituents. My officials are monitoring the matter very closely. We encourage anyone with information relevant to the Financial Conduct Authority’s investigation to go straight to the FCA. However, I would be more than happy to do as she suggests and get the stakeholders together.
Tim Farron (Westmorland and Lonsdale) (LD)
Access to banking is surely a key part of financial inclusion. The high street banks save £2 billion a year from having abandoned our high streets and town centres. Our post offices pick up the tab and we are glad that they do, but they are not funded by the banks anywhere near enough to be able to maintain their presence. In Westmorland, we have lost Hawkshead, Staveley and Grasmere post offices, and we are set to lose Shap and Tebay largely because the banks do not fund the post offices for doing their jobs properly. What is the Chancellor going to do to make them do that?
Lucy Rigby
I thank the hon. Member for his question. We very much understand the importance of in-person banking, including in beautiful, rural communities such as those that he represents. That is exactly why we are committed to rolling out 350 banking hubs right across the UK by the end of this Parliament. Over 240 hubs have been announced so far and more than 190 are already open.