Bank Branch Closures

Questions to the Mayor of London – answered on 17th July 2021.

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Photo of Joanne McCartney Joanne McCartney Labour

Feryal Clark MP has recently highlighted the lack of access to cash and cash banking facilities for local people and small businesses due to the closure of bank branches in Enfield North. Can you give figures for the numbers of bank branches that have closed in London over the past three years? Will your Better High Streets for All Recovery Mission look at this issue?

Photo of Sadiq Khan Sadiq Khan Mayor of London

An April 2021 parliamentary briefing paper shows that the number of bank branches that have closed in London since 2018 is 210: https://commonslibrary.parliament.uk/research-briefings/cbp-8570/.

My High Streets for All mission is supporting local partnerships to develop strategies for high streets that meet local needs, devising plans to get the balance right between economic, social, cultural and civic uses. Securing the right mix for any high street is best done locally. My London Plan advocates locally produced town-centre strategies to support Local Plans. This entails boroughs investigating vacancies in their high streets and town centres and setting policies to achieve good growth. This could mean having policies that allow a broader mix of uses along a high street or allowing businesses the flexibility to operate as a mixed use, where this would support the vitality and viability of the area. Local Plans and strategies can help Local Authorities to review, provide or protect services that communities rely on, such as access to banking.