Commons Sense

House of Commons · Adjournment Debate

High Street Bank Closures

28 February 2023 · 1 other contributor

Opened by Alex Davies-Jones Lab Pontypridd

EconomyTransportLocal Government

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Alex Davies-Jones raised concerns about high street bank closures in the House of Commons. A government minister responded. Other MPs also contributed.

Key points

  • MP for Pontypridd raised concerns about a 43% reduction in bank branches in Wales from 2015 to 2019.
  • The MP highlighted the closure of Barclays in Talbot Green following HSBC's closure in 2021.
  • The Minister acknowledged the importance of high streets and mentioned government funds investing 8 billion to regenerate local areas.

How the debate unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said.

Opened the debate

Alex Davies-Jones Lab Pontypridd

The MP for Pontypridd raised concerns about the alarming trend of bank closures across the UK, particularly in Wales where 43% of bank branches have closed between 2015 and 2019. She highlighted specific instances in her constituency such as the closure of Barclays branch in Talbot Green in May 2023 following HSBC's closure in 2021. The MP emphasised that these closures affect local businesses, charities, and vulnerable people who rely on cash transactions and face-to-face banking services. She called for action from the government to address this issue, including a statutory duty for banks to serve their communities.

Other contributors (1)
  • Unnamed

    Agreed with the hon. Member about the impact of bank closures on local charities and small businesses that rely heavily on cash transactions.

Government Response

Andrew Griffith

The Minister acknowledged the importance of high streets and recognised the concerns raised by Members about bank closures. He mentioned a comprehensive package of £400 billion in direct support for local communities, including the towns fund and levelling-up fund which are investing £8 billion to regenerate local areas. Regarding bank branch closures, he noted that while banks are becoming less frequented due to digital banking trends, the government does not intervene in these decisions but supports measures such as post office branches offering banking services. The Minister also highlighted legislative steps through the Financial Services and Markets Bill aimed at protecting access to cash and supporting credit unions. He concluded by reiterating the government's commitment to a financial sector that serves everyone.

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