I wholeheartedly understand that local bank branches and access to cash remain vital aspects of the day-to-day lives in local communities across our country, particularly for the elderly, disabled and those in rural communities. I want to assure you that supporting local communities is a Government priority.
I am aware that in the previous Parliamentary session, Duncan Baker MP presented his Private Members' Bill (PMB) on 2 March 2021 and he highlighted the need to look out for those who cannot or do not use digital banking. He also paid tribute to the hard work that sub-postmasters have put in during the Covid-19 pandemic, with 90 per cent of the post office network remaining open during lockdown. This is so important when 99 per cent of UK residents are situated within three miles of their local post office. I understand the Bill aimed to ensure that banking institutions are mandated to maintain a minimum level of banking services for their customers, including the provision of cash via the Post Office network, even once a bank has left the area. The Bill failed to complete its passage before the Parliamentary session ended and, as a result, it will not progress any further. However, it is possible that Mr Baker may re-introduce his PMB in this session and, if he does, I will follow any developments closely.
More broadly, I welcome the successful renegotiation of the Post Office’s commercial agreement with high street banks. This means that, through to 2023, 99 per cent of personal customers and 95 per cent of small and medium-sized enterprise customers can continue with everyday banking at one of the UK’s 11,500 Post Office branches.