Ruth Cadbury Writes to Chancellor About Bank Closures
Warns of 'banking deserts' across her constituency
Ruth Cadbury (centre) with residents protesting closure of the Isleworth Natwest MP. Picture: Tony Louki
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March 27, 2024
Brentford & Isleworth’s MP, Ruth Cadbury, has written to the Chancellor of the Exchequer, Jeremy Hunt, to ask what action he is intending to take on banking closures on the scale that have occurred over the last few years in her constituency.
In her letter she points out that seven banks had closed in Chiswick, Brentford, Isleworth and Hounslow over the last four years and says that she believes that this was having a huge impact on both residents and small local businesses who rely on cash, and who need in-person services. This has created so-called ‘banking deserts’ on the high streets of both Brentford and Isleworth with no more banks remaining. She adds that this is also of particular concern due to the low levels of free cash machines locally which limits people’s ability to take out cash.
Ms Cadbury asked the Chancellor what further steps the Financial Conduct Authority would be taking as part of its plans to increase cash access, while also raising the important role that banking hubs could play.
She said, ‘‘High Street banks are a vital part of our local community. Whether you need to set up a new direct debit, get some advice about your account, withdraw cash or simply speak with bank staff it’s clear that there is still a huge role for high street banks. That’s why I have been fighting against the closure of banks locally and have been working with residents to stand up against the huge scale of closures. Isleworth and Brentford have become banking deserts which forces people to travel to either Hounslow or Chiswick if they can.”
“We need urgent action to ensure that the banks that remain stay open and to ensure that residents and local businesses can continue to access crucial services.’’
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