Jim Shannon

It is a pleasure to serve under your chairship, Mr Wishart, and a big thanks to the hon. Member for South Devon (Caroline Voaden) for raising this debate. As the Member for Strangford, I am growing increasingly concerned about the effects of bank closures on vulnerable individuals in our rural communities, because face-to-face banking is about much more than simple convenience. Local bank branches have long been an important point of social contact, particularly for older people, those with disabilities and those who struggle with technology. It is a safe place for young people to get sound advice on savings and ISAs, and a place where people learn, get to know the staff and build protection for themselves. I stress that online banking is simply not a straightforward substitute for an in-person service. Fewer bank services mean reduced footfall, as people have fewer reasons to visit town centres, and the impact of that on the high street is clear. Eleven banks have closed in my largely rural constituency, and as the MP for Strangford, I am deeply concerned about what this means for my constituents and particularly the older people in my constituency, a large proportion of whom rely on cash. The loss of local bank services will mean significantly longer journeys to access basic financial services. More must be done to ensure those in our rural communities are not left behind and continue to have unfettered access to essential banking services. Unfortunately, there is no longer a single permanent bank on the Ards peninsula where I live, and only very spotty internet services. The situation must be reversed. It is not all doom and gloom: I thank the Nationwide Building Society, which has pledged to maintain all branches until 2030. My own local branch is an example of consumer-led safe banking, and I believe that we must hold main street banks to a higher standard. The banks must do better. Rural constituents deserve the same service as city dwellers, and the rural inequality must be addressed from this house down. For my constituents in Strangford, we need to do more.