POST BANK

Motion Text

That this House welcomes the Prime Minister's recent announcement on the extension of banking services offered through the Post Office; further welcomes the Government's consultation on providing such services; notes that proposals for a Post Office Bank present a unique opportunity to return trust to the banking sector by creating a fairer institution to tackle financial exclusion, boost the economy by lending to small businesses, improve the sustainability of the Post Office Network and re-establish a local bank in areas affected by bank closures; regrets however, the limited scope of the consultation, which will not cover the appropriate structure and funding model necessary for its delivery; further notes that the Business and Enterprise Select Committee urged the Government to review the current strategy for the delivery of financial services; and calls on the Government urgently to support the delivery of a Post Bank.