A future Labour and Co-operative-led Government would bring back bank services to our high streets.  This pledge comes after new figures show that 61 per cent of bank branches in Scotland have closed since 2015.

A Labour and Co-operative Government would accelerate the role out of ‘banking hubs’ which help people deposit and take cash out as well as get financial advice and help with banking services.

The plan is to ensure that at least 350 banking hubs are established on our local high streets across the UK.  These hubs are shared by the major banks and building societies.  Labour has pledged that areas without high street banks would be first in the queue for these new hubs.

The Co-operative Party recognises the importance of our high streets and the anchor that banking services can give to high streets.  We recognise that a vibrant high street provides a social hub and an identity to towns.

We are really pleased to see two Co-operative Party parliamentarians working together on this important issue, with Scottish Labour’s Economy spokesperson, Daniel Johnson a Scottish Labour and Co-operative MSP working with Labour and Co-operative MP and Labour’s Shadow Business Secretary Jonathan Reynolds on this policy.

Daniel Johnson MSP said, “The collapse of local banking has been a major blow for communities and high street businesses alike.”

“The SNP and the Tories have let Scotland’s high streets decline and failed to prevent the loss of vital local services.”

“The next Labour government will reverse these damaging trends by rolling out banking hubs across Scotland and ensuring people can access the services they need close to home.”

Jonathan Reynolds MP, said “We will make sure every community has access to high street banking services.”

“Under the Conservatives and the SNP our high streets have been allowed to fall into decline, with more and more high street anchors like banks closing.”

“Labour will put an end to boarded up premises and ghost high streets with our plan to bring banks back to the high street, fix business rates, tackle empty properties and get police back on the beat on your high street.”

“Only Labour has a plan to give your high street a bright future.”