- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: I can understand why the Minister points out that the Government should not micro-manage banks, but surely, the piloting of an innovative proposal such as shared banking is something that the Government could actively introduce?
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: It is a great pleasure to bring this important matter to the attention of the Chamber, and to serve under your chairmanship, Mr Brady. About a year ago, I secured a Westminster Hall debate on a similar matter. Another Treasury Minister responded to that debate, but it is a great pleasure that this Minister is present today to respond to my remarks. I have secured the debate to reiterate my...
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: I believe that the Government have a role to play, and such a summit may be the way forward. We could also support trials of community banks in which a number of different banks come together to provide banking facilities, thereby cutting costs for individual banks but maintaining a facility for the community.
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: My hon. Friend makes a good point, but the responsibility lies with all the banks. They have got to come together a find a way of addressing the problem.
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: There is a theme running through the interventions that I have taken so far. The problem is a responsibility for all the major banks, rather than for a specific bank in a particular town or community, or even in Harrow. Banks should come together and solve the problem. Presteigne is not only a sleepy country town; it contains a number of innovative businesses such as Mangar International,...
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: The hon. Gentleman anticipates a theme that I intended to expand later in my remarks. I value the work done by credit unions, but in the area of Wales with which I am familiar, they do not seem to enlarge and extend their capacity to provide facilities for businesses, or even mortgages, but work only at microfinancial level. The hon. Gentleman makes a good point, and in these extreme...
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: The hon. Gentleman makes a very good point, because public transport in rural areas is difficult at the best of times. Requiring people to travel distances of 9 miles or, in an example from my constituency, 14 miles makes it very difficult for people to obtain the advice and support that they need in making financial decisions. There have also been a number of closures by HSBC in Wales. The...
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: I thank the hon. Gentleman for that intervention, but I think that I have made it clear that although I believe that the Government can take a degree of initiative in this field, it is really the responsibility of individual banks or banks as a whole to ensure that they are able to service these vulnerable communities, because they owe a debt of loyalty to them.
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: In the long run, it is in the banks' interest to ensure that they provide a comprehensive level of service to the communities that they wish to serve and services that are more accessible and more convenient. I think that it is probably the role of the Government to sit down with the bankers, as was suggested by the hon. Member for Harrow West (Mr Thomas), and set out what should be...
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: I thank the hon. Gentleman for that intervention. Yes, I believe that there may be a role there. There is the American model of a shared bank, whereby one facility houses different banks. They share the costs and maintain a presence in the community. That may be a way forward; the Government could help with, or initiate, a pilot scheme of that type. I had intended to suggest that later.
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: I thank the hon. Gentleman for that intervention. One reason why I called for the debate is that I am not prepared to allow the closures to go unnoticed. By bringing the issue to the attention of the Government and right hon. and hon. Members, I intend to bring it to the attention of the big four banks, and a number of other banks. These large organisations have a social duty to which they...
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: I thank the hon. Gentleman, who raises an important point. Information provided to me indicates that two thirds of customers between the ages of 25 and 45 will use internet banking facilities, while only a third of people over 65 have the aptitude to take advantage of such opportunities.
- [Mr Graham Brady in the Chair] - Rural Bank Closures (21 Feb 2012)
Roger Williams: That is another point, and my hon. Friend makes it very powerfully. Perhaps the Minister would like to address that problem, too. I appreciate the coalition Government's commitment to keeping open post offices, which provide important outlets for financial products, but banks are still the preferred option for many people, particularly when they need advice and support in difficult...