Community Bank Closures — House of Commons, 2018-02-08
Topic: Domestic Commerce
James Richard Frith (Labour, Centre-left): I congratulate my hon. Friend the Member for Stoke-on-Trent North (Ruth Smeeth) and the hon. Member for Hazel Grove (Mr Wragg) on securing the debate. I would like to speak about Ramsbottom, which is frequently in the top-10 lists of best places to live and visit. Of the two market towns that I am proud to represent, Rammy has been hit first and hardest by the bank closure trend. It needs a community banking offer. When I visited small businesses there in December, the shopkeepers, charities and businesses all spoke of the distinct mix of problems that they face in keeping their heads above water Community banks, and banks generally, bring tradespeople to the town. They increase footfall and help to determine a town’s future prospects. Paying in, cashing up, small impulse buys, floats, cash-only stalls, making deposits and general local bank services are all still part of business life and life and living in Ramsbottom However, first Barclays then NatWest closed, and now Royal Bank of Scotland is reducing its opening hours, with visitors to Rammy, and customers reducing with them. A bank nearby is likely to determine the opening hours of any retail operation or business, as the proprietor will need to factor in the bank’s closing time with that of their business and the leaving time of their staff. It will be one of the things that a business proprietor considers in determining where to set up in the first place, and if a local authority is struggling to attract new shops, it will understandably opt for another eatery for the night-time economy or reach for a high-street name, thus risking diluting the independent offer of a town like ours, which is, in its first instance, the fundamental nature of the place and why visitors come at all It is all tied in to this proud community—one that has pulled together at a time of mourning recently, or a time of great testing—the Boxing day floods two years ago. There is always something fun to do and to see, whether at the chocolate festival, black pudding throwing competition—[Interruption.] It is true. Or the Head for the Hills music festival, the civic and town markets, or just a healthy mooch around the shops Of course, the problems cannot all be laid at the door of the banks, but they are a considerable part of the cumulative issues facing this community, including business rates, public transport links drying up, and less disposable income after making ends meet. It is the independent nature of Ramsbottom that gives it its zeal. These are our entrepreneurs, who are not denying the march of progress with broadband, with cash alternatives and online shopping; they are, as I am, rightly defending their modern but traditional offer. The butcher, the baker, the dressmaker, the art gallery, the coffee lounge, craft shops, pet shops, micro-breweries, chocolate factory and specialist food stores, family-run restaurants as well as charity shops, have all spoken to me of the impact on them of the drying up of available banking and a local bank The increasing risk of isolation for our older communities is also a consideration. Those for whom Ramsbottom is the nearest town with a bank, endure average broadband speeds 27% lower than the national average. My constituency is ranked 62nd of 75 constituencies in the north-west on that measure, and 467th of 650 constituencies in the UK. In Affetside, broadband is practically non-existent, and we all know that areas with no history of suitable broadband will also suffer from low-skilled internet use, which does not square with the inevitable claim that people can use internet banking instead.