Lib Dem ‘disproportionate impact’ warning over bank closures
A Scottish Parliament hopeful in the far north has warned that bank branch closures have “a disproportionate impact on rural communities” and heighten the risk of isolation among some sections of society.
David Green, the Scottish Liberal Democrats’ candidate for the Holyrood seat of Caithness, Sutherland and Ross, also called for an acceleration of banking hubs such as the one being planned for Wick.
His party is urging the Scottish Government to help protect communities from possible bank closures by exempting the “last bank in town” from business rates.
At their spring conference in Inverness, the Scottish Lib Dems debated proposals put forward by Mr Green and Jamie Stone, the MP for Caithness, Sutherland and Easter Ross.
The motion backed by party members also called on the UK government to instruct the high street banks that if they do not adequately fund the banking hub network then it will be paid for by a levy on bank profits.
Mr Green said: “Everyone should have a right to access safe and secure banking services, no matter where they live.
“We know closing bank branches has a disproportionate impact on rural communities, increasing the threat of isolation amongst older generations, people with disabilities and those with poor internet access.
“To protect rural services, both of Scotland’s governments need to work together. Banking hubs are proven to work, but they must be accelerated to ensure the services they provide are accessible before any community suffers a bank closure.
“Likewise exempting the last bank in town from business rates would help to fend off the threat of further closures in communities where access to cash and banking services are under threat.”
A public meeting was held in Wick in January to set out plans for a five-days-a-week banking hub to be located in the former Royal Bank of Scotland building in Bridge Street.
It will be ready to open when the town’s last remaining bank branch, the Bank of Scotland, closes in June.
Banking hubs are owned by Cash Access UK, a not-for-profit company owned and funded by nine major banking providers, and are operated by the Post Office.
