Banks: Closures
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of bank branch closures on (a) town centres and (b) rural communities.
Answered by Rachel Blake
The Government is aware of the public’s concerns around access to banking services, which are currently not protected in legislation. Whilst there is evidence on a local level of individuals being affected by the closure of bank branches, the Government needs robust evidence from across the UK.
The Government therefore commissioned an independent Review into Access to Banking Services. The Review will identify who is affected by changes to access to in-person banking services and how many people are affected. It will also look at what kinds of banking services are important for people to be able to access, including in town centres and rural communities.
HM Treasury launched the Access to Banking Services Review on 8 June, with the publication of the Call for Evidence. The Call for Evidence will run for six weeks and will close on 20 July. The evidence gathered will inform the development of the Review’s recommendations, and the Chair, Richard Lloyd OBE, is due to publish his findings in October. More information can be found here:
https://www.gov.uk/government/calls-for-evidence/access-to-banking-services-review-call-for-evidence.
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