Lucy Rigby MP: speeches

Speeches

• 14 Apr 2026 · Hidden Credit Liabilities: Role of the FCA · Hansard source

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  My right hon. Friend has pre-empted my offer. To be direct, yes, I will come and meet his APPG to listen further. I hope I have successfully communicated this morning that the Government do believe— Motion lapsed (Standing Order No. 10(6)).

• 14 Apr 2026 · Hidden Credit Liabilities: Role of the FCA · Hansard source

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  It is a pleasure to serve under your chairmanship, Sir Roger. I am grateful to my right hon. Friend the Member for Hayes and Harlington (John McDonnell) for securing this debate and for further airing these issues. As he mentioned, there has been a long history of parliamentary interest in these issues, over at least 14 years. That is for good reason, for not only are we deeply committed to justice and do we abhor injustice in this country, but SMEs are the lifeblood of our economy. The events of the IHRP scandal were completely wrong and abhorrent. From a personal point of view, I cannot deny how hard it is to hear and read about horrific personal circumstances, not least those of the Glanville family, referred to by my hon. Friend the Member for Poole (Neil Duncan-Jordan); the Evans family, referred to by the Liberal Democrat spokesperson, the hon. Member for North Norfolk (Steff Aquarone); and the Lilley family, referred to by my hon. Friend the Member for Middlesbrough and Thornaby East (Andy McDonald). As my right hon. Friend the Member for Hayes and Harlington referred to, in some instances there are hideous personal tragedies, as no doubt may have been experienced by some of the people who are sat behind him in the Public Gallery today. To that end, I thank and acknowledge my hon. Friends the Members for Poole, for Southgate and Wood Green (Bambos Charalambous), for Liverpool West Derby (Ian Byrne), and for Middlesbrough and Thornaby East, and the hon. Members for Strangford (Jim Shannon) and for Brecon, Radnor and Cwm Tawe (David Chadwick)—the latter knows I struggle sometimes to pronounce the name of his constituency; I hope he thinks I had a decent go—and the spokespeople from other parties for their contributions to the debate. They have shared experiences of those they represent and broader views, and in doing so, they have been clear about the deep sense of injustice and harm felt by many businesses that were affected by these issues—I know of the same in my own postbag. Not least because of the correspondence I have had and what we have heard today, I recognise that some businesses remain deeply dissatisfied with the operation of the original redress scheme and that its conclusions continue to be strongly contested. Although there have been a number of reviews and pieces of litigation, as I will come to later, the main redress scheme for IRHP resulted in over £2 billion paid in total to thousands of affected businesses. It was undeniably unsatisfactory that the overall response to these issues has been piecemeal and complex, and the process was very often slow and frustrating to deal with. However, I am told that the IRHP redress scheme was conceived as a means of providing redress within the legal and regulatory constraints of the time. That time was more than 10 years ago, and some instances of the subject matter that we are discussing today go back around 25 years. Clearly, I was not part of the Treasury in 2012, nor were Labour in government—the party of the shadow Economic Secretary to the Treasury, the hon. Member for Wyre Forest (Mark Garnier), were in government for the last 14 years—so I want to set out the current Government’s understanding of the framework within which decisions about the redress scheme were taken at the time. The constraints, in so far as they concern regulatory oversight, reflect the constitutional settlement that underpins the UK’s regulatory system, with which I know hon. Members are familiar. I would imagine that we would all wholeheartedly agree with the hon. Member for Southgate and Wood Green that regulators should at all times act with integrity and independence. Indeed, partly with that point in mind, I say that the Treasury does not have the power to direct the FCA to intervene in individual cases or to investigate matters that fell outside the regulatory perimeter that applied at the time—I am not sure that is what my right hon. Friend the Member for Hayes and Harlington is asking the Treasury to do at this point in any event. The Treasury also does not have investigative or prosecuting powers of its own. I am sure hon. Members are aware that the independence of the FCA and the Financial Ombudsman Service is fundamental to our constitutional settlement. The separation between the Treasury and the wider regulatory authorities is not a technicality; it is, in theory, a safeguard for businesses and for consumers. I acknowledge the argument that the Government should act independently of the regulator and the regulatory system and look again at this issue with fresh eyes using their own statutory powers. Given the many reviews of these issues, the independent and broad-based redress schemes over more than a decade, the successful prosecutions, convictions, judicial reviews, and other investigations, the question that the current Government must ask is whether steps to reopen these issues now will lead to better or different outcomes, and, importantly, more redress for those affected. There are questions as to whether this Government would have made the same decisions if confronted with the same problems as the previous one—and if our decisions would have been different or indeed more or less effective. Without prejudice to the gaze of the shadow Economic Secretary to the Treasury, I am sure that most of us would like to think not only that might we have dealt with the situation rather better, but that in a best-case scenario regulation and supervision would have been designed such that none of these issues would have arisen in the first place. That goes right to the root of why we are all here today, and indeed critical regulatory changes were made following this scandal. However, this Government inherited a set of decisions, conclusions, judicial findings, judgments and levels of compensation that were delivered some time ago. Several hon. Members, including the hon. Member for Strangford, a consistent champion of his constituents whose specific points I will come to shortly, and my hon. Friend the Member for Hexham (Joe Morris), who articulated Catherine and Nigel’s heartbreaking story very well, have spoken about hidden credit lines or contingent obligations. Those are clearly very serious allegations, and it is right that they are treated seriously. For the reasons I have set out, where issues relate to the conduct of regulatory firms, they are for the FCA to consider using its statutory powers, evidence base and judgment—with that judgment being independent, again for the reasons that I have set out. In the light of the independence that we have been discussing, I should say that the FCA firmly refutes the claims made in the BankConfidential report—which I have here—about the nature and impact of the credit lines that we have been discussing. It also refutes the allegations of collusion and regulatory failure which have been referred to today. With reference to the independence of the courts, in a series of cases, the courts have made findings in relation to disclosure, and Jonathan Swift KC referenced those findings as settled legal context, concluding that the FCA acted lawfully in defining the scope of the IRHP redress scheme. It is true that past regulatory reviews were conducted within the scope of the powers available to the regulator at that time and within the regulatory perimeter that Parliament had set. It is of critical importance that the wider regulatory framework has now changed. However, before I come to that, I want to address the previous redress scheme in more detail. I recognise that many of those represented here remain deeply dissatisfied with how that scheme operated and that its conclusions continue to be strongly contested. I do not intend to in any sense minimise or underplay any of that frustration, which is clearly very strongly felt. While I understand that the process at the time regarding that redress scheme was slow and sometimes no doubt deeply frustrating, it was established with the intention of delivering redress within the legal and regulatory constraints that applied at that time. One such constraint related to tailored business loans. Most business lending fell outside the scope of the FCA and therefore beyond its powers to compel redress. We cannot extend regulation retrospectively. Indeed, even outwith these current issues, reopening past decisions would create significant legal uncertainty and risk that could affect the availability and cost of finance for SMEs today. Although I appreciate it is known by those here, I should note that subsequent reviews, and ultimately the courts, considered whether the regulator had acted lawfully in setting the scope and perimeter of that scheme, and concluded that it did. I mention that because it is an important consideration in any assertion that it is for the current Government to seek to reopen these issues. I referred to a different regulatory environment from that existing now. I will briefly explain why our regulatory landscape is now better. Since 2019, the vast majority of SMEs, around 99%, have been able to bring complaints to the Financial Ombudsman Service. That was a direct response to the gaps exposed by earlier scandals, including those we have talked about today. The ombudsman now provides a far wider safety net for small and medium-sized businesses than existed during the period under discussion. In addition, the senior managers and certification regime has transformed accountability in financial services. Senior individuals can now be held personally responsible for the way that firms treat SME customers, whether activity is regulated or unregulated. That cultural shift, which stems from both of those, is profound. It did not exist during the years that Members have understandably focused on today. Today’s debate, like other parliamentary activity on the same topic over a long period, some of which I have reviewed for this debate, has highlighted the serious and clear injustices that some businesses suffered and the impact that had. The current Government obviously cannot undo the harm that has already occurred, more is the pity, but nor can we, or should we, override independent decisions taken by the courts within the legal framework that applied at the time. I want to address this directly, hard as it may be to hear. I understand that my right hon. Friend the Member for Hayes and Harlington wishes me to commit today to opening a full judge-led public inquiry into these issues. I do not wish to downplay the seriousness of the matters we have discussed today, but the Government do not believe that a full public inquiry would, at this point be the right course for us to take. I say that with reference both to the long history of reviews, prosecutions, redress schemes and judicial reviews, which would all require unpicking to some degree, and importantly, to the changes to the regulatory landscape that were made subsequently, as a result of the gaps that this scandal exposed. I want to be clear that the Government are instead focused on ensuring that the regulatory landscape is fit for purpose and on supporting SMEs to grow with confidence, improving their access to finance and ensuring that the financial services sector operates to high standards that command trust. We are backing that commitment with real action, with record support for the British Business Bank and reforms that strengthen accountability without undermining growth. We are committed to robust regulation to international high standards, so that we have a strong financial services sector. Those ought not to be intentions but the bedrock of the financial services system. That is why access to redress for SMEs has been widened so significantly and why accountability at the top of financial firms is now personal and enforceable. It is also why the regulatory perimeter continues to be kept under careful review, deliberately and responsibly. The hon. Member for Strangford referred to discretionary commission arrangements.

• 19 Mar 2026 · Banking Services: Accessibility · Hansard source

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  On that cue, I will skip further ahead in my speech. I was going to talk about all the services that are available at banking hubs, which the industry is working hard to increase. Customers can now open accounts, change names and addresses, register complaints or receive help with online and telephone banking. I have met the industry on a number of occasions and I would like to put on record that we are working to try and make sure that the services provided at banking hubs meet the needs of communities. Fraud and scams were mentioned; they are concerns that the Government are thinking about. Let me cut to the chase and answer many of the questions that have been raised. Despite everything that I have said about the importance of banking hubs and our manifesto commitment to open 350 of them, it would be premature to conclude that all communities are consistently receiving sufficient support for their banking needs. That has been clear from the contributions of hon. Members in this debate. In direct response to one question was raised by the hon. Member for St Ives—a point that was also well articulated by my hon. Friend the Member for Stoke-on-Trent North (David Williams)—that is why, as might be expected, we are keeping any need to go further, including on access to banking services, under close review. There is much more I could say about the health of our high streets, digital and financial inclusion, and alternative options to banking services, but in the light of the time and your strong cue, Mr Western, I will wrap up there.

• 19 Mar 2026 · Banking Services: Accessibility · Hansard source

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  It is always welcome when Members attend such openings. The hon. Member for Keighley and Ilkley (Robbie Moore) is no longer in his place, but I was pleased to hear him welcome the upcoming opening of the banking hub in Ilkley. I note what he says about the need for a hub in Keighley as well.

• 19 Mar 2026 · Banking Services: Accessibility · Hansard source

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  It is a pleasure to serve under your chairmanship, Mr Western. I congratulate the hon. Member for St Ives (Andrew George) on securing this debate. I thank him for setting out the concerns of his constituents very well, and I thank other hon. Members for their contributions: they have been powerful and in some cases very heartfelt. It is fair to say that access to banking continues to attract significant interest from colleagues across the House. The hon. Member is right that that interest is increasing. He referred to his own experience of the trajectory of this issue, and I agree: I am seeing hon. Members raising this issue in the House with increased salience, which I am sure reflects how our constituents feel. I am grateful to all hon. Members who have taken the time to share their experiences and those of their constituents. Some hon. Members who spoke in this debate have attended my banking hub surgeries, which I hope the Liberal Democrat spokesperson, the hon. Member for Brecon, Radnor and Cwm Tawe (David Chadwick), found valuable. The fact that I hold those surgeries, which Members of Parliament from any party can attend, demonstrates that the issue is being raised more and more by Members across the House. I recognise that rural and coastal communities such as those in the constituencies of the hon. Member for St Ives and of the hon. and gallant Member for Tewkesbury (Cameron Thomas) face particular challenges in accessing banking services. I very much appreciate the fact that in many circumstances local geography and transport may make it more difficult for elderly and disabled people, as well as those who are vulnerable or digitally excluded, to reach face-to-face banking when branch provision changes locally. The hon. Member for St Ives mentioned services in his constituency being provided in an upstairs setting. I will come on to address accessibility issues, but I was sorry to hear that example. On transport, my hon. Friend the Member for Redditch (Chris Bloore) raised concerns about travel times, which I will also address. Many points have been raised, and I will do my level best to address them all. The Opposition spokesman, the hon. Member for North Bedfordshire (Richard Fuller), rightly referred to the fact that the banking landscape has changed in recent years. Many people have greatly benefited from digital innovations that allow them to manage their finances more easily. For many, those changes have increased accessibility and convenience. Many of us are able to access banking services just from an app on a phone. It has been clear in this debate, however, that although digital services work well for many people, others still want, need or prefer to access banking in person or use cash in their daily lives. That includes some older customers, people who are more vulnerable, or those—as with the family member of my hon. Friend the Member for Cumbernauld and Kirkintilloch (Katrina Murray)—who have been through a significant life event. Being vulnerable at that point, they may just want to speak to another human. This Government are on the side of each of those categories of people. We recognise that cash remains important for people and businesses right across the country. That is why we have been clear that, alongside digital innovation, it is critical that people have access to the services that they need. Hon. Members know that access to cash is protected in legislation and the FCA has responsibility and powers to ensure that people and businesses can continue to withdraw and deposit cash. I want to address the serious concerns that have been raised by hon. Members about the impact of bank branch closures on our communities. In particular, the hon. Member for St Ives articulated his concerns about the closure of a Lloyds branch in Penzance. I fully understand his concerns about that situation. The Government understand the importance of those services, and there are other similar instances across the country. Banking services and other services must reflect customer and community interest. I welcome the fact that some banks have made commitments to maintaining or improving their existing branches, because they recognise just how important they are to their customers. Nationwide Building Society has committed to maintaining 605 branches until at least 2030 and HSBC UK has committed to keeping 327 branches open until at least 2027; we very much welcome those important commitments. I also draw attention to the fact that, according to the Building Societies Association, 35% of the branch network is currently provided by building societies. As a Government, we fully support and value the role that mutuals play in our economy and society. Branch access is an important feature for a number of customers. Many have used the free current account switching service to change provider. The switching service ensures that all payments and balances are automatically transferred to a new account, but for those firms that are changing their branch network, there are rules and obligations. In those circumstances, it is important that all Members know that decisions to close branches must be taken with regard to their impact on customers and communities. The FCA’s branch closure guidance is very clear that firms must carefully assess the effect of a planned closure on customers’ everyday banking and cash access needs. Let me underline that point: it is very important, not least because of some of the contributions to today’s debate. Banks are expected to put appropriate alternatives in place. Where they fall short of those expectations, the FCA can and will ask for closures to be paused and I fully support those FCA powers. As a Government, we expect the FCA to use them where they consider it necessary to do so. Crucially, we also believe it is right that no branch can close until any recommended services are put in place.

• 19 Mar 2026 · Banking Services: Accessibility · Hansard source

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  The hon. Member has tried to trick me into saying the name of his constituency or the towns in it before; as he well knows, I cannot pronounce them anywhere near as well as he can. I was about to answer the exact point that he makes. It is really important to note that the 350 figure is a floor, not a ceiling. Our manifesto commitment sets that floor of 350 hubs. I appreciate that the hon. Member is not asking me to call it right now, but I will: the Government, working with industry, hope to go above that number. That is not least because more than 270 hubs have already been announced. Our commitment is for 350 hubs over the course of this Parliament, and 18 months into the Parliament we are already at 270—hon. Members will see the trajectory. Of the 270 hubs that have been announced, 225 are now open. The remaining hubs that have been committed to are yet to open, but we expect them to in due course. To answer the hon. Member’s question, it is entirely possible that the 350 target will be surpassed, as and when more communities need banking hubs. I would welcome that, it sounds like he would welcome it and I am sure that other Members across the House would too. Banking hubs provide assisted cash services through post office counters alongside community bankers from individual banks who meet customers face to face in a private room to offer support, as they would in a traditional branch, as has been mentioned. I was very sorry to hear the experiences with community bankers noted by the hon. Member for St Ives; that was not what I understood from colleagues in this place and what I have heard anecdotally outside this place. Indeed, when I visited the banking hub in Warwick in your constituency, Mr Western, I did not see queues of people waiting to see a community banker. Everything was happening in an orderly way, and community bankers could see people in a timely fashion. Nevertheless, I note the experiences that the hon. Member put on the record, and I am more than happy to look specifically at the issues in that banking hub.

• 19 Mar 2026 · Banking Services: Accessibility · Hansard source

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  I appreciate that there is a difference between access to cash and access to banking services; I will come on to the latter, if the hon. Member will give me a moment. The Government wholeheartedly recognise the importance of banking services to local communities; that recognition underpins our manifesto commitment to support industry to roll out 350 banking hubs across this country by the end of this Parliament. I think I am right to say that the hon. Member attended the opening of a banking hub in Helston in his constituency.

• 11 Mar 2026 · Finance (No. 2) Bill · Hansard source

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  I beg to move, That the Bill be now read the Third time. The Budget in November was a Budget to build a stronger, more secure economy. It contained fair and necessary choices to deliver the public’s priorities by cutting the cost of living, cutting debt and borrowing, cutting child poverty, and cutting NHS waiting lists. At its heart were three deliberate pro-growth choices. First, by choosing to maintain economic stability and getting inflation and interest rates down, we gave businesses the confidence to invest and our economy the room to grow. Secondly, by choosing to reject austerity, we protected over £120 billion of additional investment in growth-driving infrastructure. Thirdly, by choosing to back the fast-growing British companies of the future, we supported the investment, the innovation and the economic dynamism that will increase growth, raise living standards, and boost the country’s prosperity in the next decade and beyond. The measures in the Bill deliver on those choices by introducing tax levers to unlock investment, back our wealth creators and attract talent by sticking to commitments in the corporate tax road map to provide certainty for businesses, and by doubling the limits for our enterprise tax incentives so that scale-ups can attract the capital and talent that they need in order to grow. The Bill contains a series of other responsible decisions on tax, and that is because, at the time of the Budget, the Government faced choices. We could have made the reckless choice to abandon our fiscal rules and let borrowing and debt increase, but instead we made the pro-growth choice to get borrowing, debt and inflation down, more than doubling our headroom. We could have made the irresponsible choice and returned to austerity, cutting public services as the Conservative party did and undermining capital investment, but instead we made the pro-growth choice to protect the investment in Britain’s infrastructure and to build a better, stronger, more secure economy. In line with our commitment to fiscal responsibility, the Bill maintains income tax thresholds for employees and the self-employed at the current levels for a further three years, from April 2028 until April 2031. It also contains measures to strengthen the integrity of the tax system by closing loopholes and removing barriers. That includes reforms to collect more unpaid taxes and to modernise the tax system to make it easier for taxpayers to get their tax right first time. We are introducing new powers to close in on promoters of marketed tax avoidance, and to challenge those who knowingly engage in fraudulent business in the construction industry. Alongside the measures announced in the 2024 Budget, the measures in the Bill to close the tax gap will bring the total revenue from tax gap measures announced in this Parliament to £10 billion in 2029-30. I wholeheartedly thank all Members, on both sides of the House, for their contributions during the Bill’s passage. The Bill contains the right choices for the public finances, the right choices on investment, the right choices for businesses and for working people, the right choices for our public services, and the right choices for Britain. For those reasons, I commend it to the House.

• 10 Mar 2026 · Topical Questions · Hansard source

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  I thank my hon. Friend for highlighting the important work of Co-operative Care Colne Valley, which is an excellent example of how co-operatives can deliver high-quality community-owned care for elderly and disabled people. His constituency is home to a number of other fantastic co-operatives, including the Green Valley Grocer and the Handmade Bakery. The Government are committed to doubling the size of the co-ops and mutuals sector, exactly because we recognise the very positive role that it plays.

• 10 Mar 2026 · Topical Questions · Hansard source

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  I know how passionate my hon. Friend is about the Government’s priority to get more first-time buyers on to the housing ladder. As he and I have discussed before, people looking to buy a home can build their credit history through rent payments by using third-party services that report these things to credit reference agencies. I think that he and I would agree that better awareness of such services and the mortgages available that take account of tenants’ rental payments would be a good thing.

• 10 Mar 2026 · Food Banks · Hansard source

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  We became inured to the presence of food banks under Tory Governments over the last 14 years, but we should always remember that despite the incredible work done by those who run them, food banks should not need to exist, and this Government are committed to ending mass dependence on food parcels. That is why we have extended free school meals to children in families receiving universal credit and removed the two-child limit, which will lift 450,000 children out of poverty, and—according to the Trussell Trust, as the Chancellor said earlier—will significantly reduce the number of families using food banks.

• 10 Mar 2026 · Food Banks · Hansard source

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  As my hon. Friend knows, we are a strong supporter of the mutual sector, for exactly the reasons that she has given. As part of our financial inclusion strategy, we are backing the sector with initiatives such as the new £30 million credit union transformation fund and reform of the common bond, which I look forward to introducing shortly.

• 10 Mar 2026 · Food Banks · Hansard source

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  As I have said, food banks should not need to exist, which is why this Government are committed to ending mass dependence on food parcels. I have also mentioned the importance of lifting the two-child limit on universal credit, which will result in the largest expected reduction in child poverty in a single Parliament since records began.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  As ever, the right hon. Gentleman gives me good advice and, as ever, I shall pay close attention to what he says. He rightly refers to different aspects of vulnerability and I will come on to some of those slightly later in my remarks. What is clear from the interventions that we have just had is, again, how passionately Members from right across the House feel about these issues, which is why the Government have been clear that it is critical that people have access to the services they need.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  I can answer that very directly. We keep these issues under review, as my hon. Friend would expect. Prior to those interventions, I was talking about action that the Government have taken. Our recognition of the importance of banking services to local communities underpins what we put in our manifesto, which was a pledge to work with the industry, as the hon. Member for Caerfyrddin rightly said, to get to at least 350 banking hubs across the country.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  My hon. Friend sums up very well the links between some of the issues that we are discussing today and wider economic growth, which, as Members will know, is the Government’s principal mission. Any hope that I might have had of reciting the names of the constituencies of Members who have contributed to the debate is fast evaporating. What I will say, on our 350 banking hubs in the course of this Parliament, is that it is important to note that that is a floor rather than a ceiling, so it is entirely possible that the 350 target will be surpassed. More than 270 hubs have already been announced, and more than 210 are now open. In Wales specifically, 17 banking hubs have been announced and 12 of them are already open. Banking hubs do not just provide assisted cash services through post office staff and allow customers to withdraw and deposit cash. They also of course, as Members will know, provide community bankers from customers’ banks, offering customers the opportunity to speak to someone face to face about their banking needs, as they would in a traditional bank branch. I was in the banking hub in Warwick just last week and was able to meet community bankers and customers who were coming in. I saw at first hand the important benefit that having someone there whom people were able to engage with brought to those who were coming in.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  If the hon. Member would let me progress just a little further, I will cover the issues he refers to. As I said, the strength of feeling expressed today, and more broadly in parliamentary interactions, shows just how important this issue is to Members, and to people right across the country, particularly in the types of communities that the hon. Member for Caerfyrddin represents. I recognise the particular concerns about rural and post-industrial areas, where longer travel distances, which were referred to, more limited transport and, in particular, uneven digital connectivity make the loss of a bank branch especially acute. It is right to acknowledge that banking has changed very dramatically in recent years. Many customers have benefited from digital innovations that allow them to more easily manage their finances. For those who have benefited, those types of innovations have increased accessibility and convenience.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  The hon. Member makes a strong point. I am rapidly cutting bits out of my speech, but I will cover as much as I can. Members will know that some hubs offer services that others do not. We have been exploring with the banks how services might be expanded and improved where there is a community need for that to happen. Just last month, I held a roundtable with a large number of banks, Cash Access UK and UK Finance to discuss the services currently provided in banking hubs, including access to printing facilities, which we know are really valued in some communities. Saturday opening hours are another example of the things that were discussed. Overall, that discussion with the banks was about how we improve the functionality of hubs. We also discussed what the industry might be able to do to raise awareness of the location of hubs—which we know in some areas is not as high as it might be—alongside awareness of the services that they offer their customers. I want to spend a second addressing the important points raised about digital exclusion and particular vulnerabilities. Although many people benefit from digital services, the Government of course recognise—this is inherent in the financial inclusion strategy that we published at the end of last year—that many people face real barriers. That is exactly why digital inclusion sat alongside access to banking as a core pillar of the strategy. The financial inclusion strategy includes an industry-led working group on inclusive design to improve accessibility right across financial products— Motion lapsed (Standing Order No. 10(6)).

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  I will.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  I was going through some of the changes in the landscape of banking, and will come to a slightly more negative aspect of that, if the right hon. Member will allow me to do so. I hope that will cover the substance of her question. The most recent data from the Financial Conduct Authority shows that over nine in 10 adults banked online or used a mobile app in 2024. We also know, alongside the statistics on digital innovations that I just referred to, that around a quarter of adults carried out banking face-to-face in a branch over the same period. I put that alongside the statistics that the hon. Member for Caerfyrddin referred to about cash usage, which I will not repeat. I make no judgment about why I am a little old school on occasion with my attachment to cash, as she put it, but we know that many of those who still rely on in-person services are older customers and more vulnerable individuals. We also know that many businesses right across this country continue to depend on cash.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  The House will forgive me for not commenting on individual cases, but it is safe to say that I am familiar with the circumstances that my hon. Friend refers to, and I know the urgent nature of some of the issues that she—

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  Yes, I will.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  It is a pleasure to serve under your chairmanship, Sir Desmond. In my very best Welsh, I thank the hon. Member for Caerfyrddin (Ann Davies)—she is smiling, which makes me think that I may have got that pronunciation ever so slightly wrong—for securing the debate. It is clearly an important topic to her, given the passionate way that she spoke, and to Members, given the number of interventions. I know from my experience, not least in Treasury orals, the correspondence that I get, and the banking hub surgeries that I run in Parliament, how important this issue is to Members right across the House, so I thank her again for securing this very important debate. I also thank those who have made interventions thus far, including the hon. Members for South Cotswolds (Dr Savage) and for Strangford (Jim Shannon).

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  My hon. Friend raises very important issues, including in relation to Pride in Place. What is so important about this debate and about banking hubs is that there is an interaction between access to cash, and the ability to speak to a bank or a community banker, and the health of our high streets and how people feel about their towns and communities.

• 24 Feb 2026 · Banking Hubs: Rural and Post-Industrial Communities · Hansard source

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  I will give way first to the right hon. Gentleman, and then to my hon. Friend.