Banks: Closures and Shared Banking Hubs - Question

Part of the debate – in the House of Lords at 11:07 am on 27 April 2023.

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Photo of Lord Holmes of Richmond Lord Holmes of Richmond Conservative 11:07, 27 April 2023

My Lords, in the past 12 months, 847 bank branches have closed or are set to close. Four shared banking hubs have opened. Does my noble friend the Minister agree that the Government need to act to ensure local banking provision, including deposit taking as well as withdrawals and advice? They must also act to ensure acceptance of, as well as access to, cash; otherwise, what currency is cash if there is no place to spend it? Finally, will the Government consider carefully commissioning a review into access to digital financial services to ensure that everyone can benefit from all the financial innovations in that space?