Contribution
It is a pleasure to serve under your chairmanship, Mr Western. I am grateful to the hon. Member for St Ives (Andrew George) for securing this timely debate.
The debate is particularly timely for me, because only last week the last bank in the whole of my constituency—Lloyds in Tunstall—closed its doors for the last time, leaving Stoke-on-Trent North and Kidsgrove without a single bank. In Kidsgrove, the last bank, Barclays, closed back in 2023, and Burslem residents have been without a bank for years. I remember going to the bank in Burslem with my mum when I was a kid. I queued up and watched people pay in and take out money. It was a place with a social purpose and someone to speak to. It was part of my everyday life and the everyday life of my family, and I know that is true for all members of our community. That has been lost.
Since my election, I have fought, alongside residents and local councillors, against the final bank’s closure. When Lloyds announced that it would leave Tunstall, I wrote to the bank and met its representatives to make the case against the closure, but really the decision had already been made. It was a case of “computer says no”—that is what it felt like. That is the problem: these decisions are made far away, on the basis of narrow commercial logic with little regard for communities like ours.
I have been campaigning on this issue in my constituency, but I did not stop there. I campaigned to bring banking hubs back into my constituency, and pushed for provision in both Tunstall and Kidsgrove. In Tunstall, we have a banking hub that is open, and I want to place on record my thanks to Aaron and the team at the post office who are doing great work with residents who have lost access to what I call “proper banking”, but we need to be clear that a banking hub is not a replacement; it is a mitigation. Meanwhile, in Kidsgrove, there is no banking hub at all—or no proper banking hub, I ought to say. There is something that is branded as a banking hub, but I do not class it as a real banking hub. Let me say it plainly: Kidsgrove needs a full-time banking hub, and it needs it now. We are told that alternatives are available. We are told to go and use post offices, but the post office in Kidsgrove has been closed for a year. We are told to go elsewhere, but “elsewhere” simply is not accessible for many people, particularly older and vulnerable residents, people without transport, and people who run small businesses.
I am really pleased that we pushed forward on banking hubs in our manifesto. They are part of the solution, but they are not good enough yet. They are limited and can be inconsistent. My question to the Minister is simple: what more will the Government do to expand banking hubs and make sure that they provide the full services that people need? This is about more than purely banking. Banks were anchor institutions on our high streets. They brought footfall into our town centres, supported businesses and gave confidence to our towns.
When the last bank leaves a town like Tunstall, Kidsgrove or Burslem, it sends a message that the place does not matter any more. We need to decide what level of access communities should be able to rely on, because right now the answer seems to be whatever is left behind, and that simply is not good enough. I urge the Minister to act. We need to strengthen the rules on bank closures; we need to expand proper banking hubs, including in places like Kidsgrove; and we need to recognise banking for what it is: a basic, fundamental service. If the market will not provide it, the Government must act. My constituents cannot be left behind, and they tell me that today, they are.