Stop Banks abandoning East Riding high streets.

​The systematic abandonment of our high streets by major banks is nothing short of a disgrace, and it is hitting communities right here in the East Riding of Yorkshire hard. This isn't just about a cash machine disappearing; it's about the very heart and viability of our local towns and villages.

​The Liberal Democrats believe in a Fair Deal for the East Riding, and that means standing up to billion-pound banks that are prioritising profit over people, while dumping their essential services onto our already stretched Post Offices.

​The £2 Billion Rip-Off

​The fact is clear: banks are saving an astonishing estimated £2 billion a year by systematically closing their branches across the country. Where does that saving come from? It comes at the direct cost of local financial access, with our invaluable Post Office network forced to pick up the slack, often as the last remaining face-to-face financial service in town.

​As Liberal Democrat MP Tim Farron rightly points out: ​“Banks save £2 billion a year from abandoning our high streets and town centres. Our post offices pick up the slack, but they are not funded by the banks anywhere near enough to be able to maintain their presence. This must change.”

​This £2 billion saving for the banking giants is effectively a hidden tax on our communities, threatening the very existence of the Post Office network which is vital for the elderly, small businesses, and those who rely on cash.

​Residents across the East Riding know this pain all too well. We have seen first-hand the devastating impact of these closures including:

​Pocklington: The closure of the Barclays branch here was a major blow, forcing residents to travel significant distances for in-person services.

​Hessle: Losing the NatWest branch made accessing business and personal banking much more difficult for local people.

​Hornsea: When the Lloyds Bank branch shut its doors, if it was not for the banking hub opening; Hessle would have been stripped the town of a vital community hub and financial lifeline.

Bridlington: The closure of Barclays, TSB and NatWest, has impacted significantly on the way both businesses and personal customers can bank. 

​Every one of these closures weakens the footfall on our high streets. When the Post Office—which is often operating on tight margins—is then underfunded for taking on transactions for these same multi-billion-pound banks, it makes their own future precarious. A Post Office closure is a hammer blow, cutting off essential services entirely, especially in our rural communities.

​Our Demand: Banks Must Pay Their Way

​It is morally unacceptable that huge financial institutions are privatising their profits while socialising their costs onto a public service and our local communities.

​The Liberal Democrats are demanding urgent action:

​Mandate Fair Funding: The Government must mandate a significant, increased contribution from the major banking groups to the Post Office network. This contribution must reflect the true value of the essential services the Post Office provides on the banks' behalf.

​Safeguard Financial Access: The £2 billion they are saving must, in part, be reinvested into the communities they have abandoned, to safeguard access to cash and essential financial services.

​We need a banking system that serves the needs of the East Riding, not one that treats us as an afterthought. It is time for the banks to be forced to contribute fairly to the infrastructure that keeps our high streets breathing.