Sarah Dyke

I thank my hon. Friend for her intervention. She makes a very good point, which I wholeheartedly agree with. Small businesses also suffer from bank closures because they are not able to deposit their takings, transfer money between accounts, manage fraud or get simple advice on opening a business account. This has a large impact on small businesses in rural areas. For local charities, closures can mean the difference between banking the proceeds of a coffee morning and not banking them at all. This also demonstrates the impact of the rural premium that people in rural communities face when living their everyday lives. My constituency of Glastonbury and Somerton has felt the full consequences of the decline. Many market towns have lost all banking facilities already, and the Lloyds branch in Street is due to close next March. I have collected many signatures from concerned constituents who will be impacted by this change, and I have urged Lloyds—and will continue to do so—to reconsider the decision. I recognise that a community banking hub is expected to begin visiting Street from early 2027, and I welcome that effort to maintain some local presence of banking services, but let us be clear: a fortnightly visit from a community banker is not a substitute for a staffed bank branch. Of course, banking hubs and community bankers do have an important role to play, but they must be integrated as part of the conversation around banking services, rather than being the Government’s answer to it. In addition, the Coventry Building Society branch in Wincanton will close in nine days’ time, leaving the town without any face-to-face banking services. Coventry Building Society has informed its members that they will be able to deposit their cash at their nearest branch in Frome, but that is a 40-mile round trip, so the closure will undoubtedly affect both rural local residents and local businesses, who will now need to make alternative arrangements.