Richard Quigley MP: speeches

Speeches

• 5 Jun 2025 · Bank Closures and Banking Hubs · Hansard source

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  I thank my hon. Friend the Member for Blyth and Ashington (Ian Lavery) for securing this important debate. Too often, I feel the issues that significantly affect the day-to-day lives of our constituents are pushed aside in favour of larger, headline-grabbing national concerns, but this topic of access to banking services—more specifically, access to cash—deserves far greater attention than it receives. While colleagues here will be familiar with my No. 1 concern on the Isle of Wight—ferry connectivity—another issue came up repeatedly during the ’24 general election: high street bank closures. What struck me most was just how deeply that issue resonates with people. Many of the residents I have spoken with feel very abandoned by the institutions they once trusted with their life savings. They are expected to navigate an increasingly digital world, often without the necessary tools, skills or support. The result is a growing sense of exclusion and frustration, which is why the need for reliable, in-person banking services is not just important, but urgent. That is why I am pleased to report a positive development following a meeting with Link last month: a banking hub has opened in East Cowes, with plans for a permanent hub in West Cowes. While I do not claim that that hub alone solves the broader issue of financial inclusion on the island, it is a welcome and tangible step in the right direction. However, we cannot ignore this trend and the anxiety that it causes our constituents. Across the country, rural and coastal communities are seeing their bank branches vanish from the high street. In many cases, residents must travel miles, sometimes without reliable transport, just to deposit a cheque. [ Interruption. ] Sorry, Madam Deputy Speaker; I was getting overexcited. According to the Financial Conduct Authority, around 1.1 million adults in the UK are unbanked. That is 1.1 million people without access to basic banking facilities—something that many of us take entirely for granted. Additionally, one in 10 adults have no cash savings whatsoever. Those figures should concern us all. I worry especially for the older members of our communities. A 2023 report from Age UK found that three in four accountholders aged 65 and over would prefer to carry out at least one banking transaction at a branch. Those are not people resisting change for the sake of it: they are individuals who genuinely rely on physical, face-to-face interactions for their financial wellbeing. They are disproportionately concentrated in rural constituencies such as mine, where the proportion of residents over the age of 65 is nearly 10% higher than the national average. It is imperative that we do not leave those individuals behind. This is not simply about preserving social interaction for its own sake: we are talking about people’s livelihoods—their savings, pensions and financial security. It is entirely reasonable for individuals to want the reassurance of speaking to a real person, face to face, when managing something as vital as their money. That is where banking hubs come in. These shared facilities provide a practical, community-focused solution. They combine the services of multiple banks in a single accessible location, supported by the post office network. They are staffed by real people who can help with deposits, withdrawals, and even financial guidance. Banking hubs are not just a stopgap; they are a forward-thinking solution that helps us bridge the digital divide, support more small businesses and charities that still rely heavily on cash, and maintain community cohesion in towns and villages that increasingly feel cut off. All of this has reinforced my belief that banking hubs are not just a temporary fix; they could very well be a long-term solution, restoring vital financial services in the areas where they are needed most. Let us ensure that no community—whether rural, coastal or urban—is denied access to the essential services its people need to live with financial freedom. I thank Link and Cash Access UK for their work.

• 7 Mar 2025 · Space Industry (Indemnities) Bill · Hansard source

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  I challenge anyone who has listened to the speech given by my hon. Friend the Member for Glasgow East (John Grady) not to think, “What a time to be alive.” We also have three castles on the Isle of Wight, one of which imprisoned Charles I, and it also has a donkey that powers a wheel to draw water from its well. I have no idea what use that is to this debate, but I felt very much left out. I thank my hon. Friend for introducing this important Bill, which not only reaffirms the UK’s commitment to advancing space travel and exploration but ensures that that progress is built on a foundation of safety, accessibility and innovation. At a time when the global space sector is increasingly dominated by billionaire-led ventures, the Bill sends a clear message that the UK remains dedicated to a space industry that is both pioneering and responsible—one that prioritises safety, fosters innovation and creates opportunity for all. I am proud to say that the Isle of Wight has a fantastic history of supporting and growing the UK’s space industry—it gives colleagues a break from hearing me talk about ferries. As in many other areas, we punch above our weight in this regard. In 1955, Saunders-Roe, based in East Cowes, began developing the Black Knight research ballistic missile. Over the course of its programme, Black Knight achieved 22 successful launches without a single major failure, a remarkable feat that showcased British engineering excellence. That legacy highlights the Isle of Wight’s pivotal role in the history of British space exploration and technological innovation, demonstrating its potential to contribute to the UK’s modern space ambitions. However, we want to be not just a part of space history, but a part of space future. One of the biggest barriers to growth in the UK space industry has been the issue of liability. At present, the Government risk unlimited liability when launching satellites or conducting spaceflight operations. That uncertainty discourages investment, as insurers and financial backers are unwilling to support projects with unpredictable risks. The Bill before us is a simple, but crucial, fix: it will ensure that all spaceflight licences set a clear limit on operator liability, bringing us in line with international standards. That change is particularly important for smaller, emerging space companies, many of which could see the Isle of Wight as a viable location for future space-related ventures.