SNP WELCOME FOR POST BANK PROPOSALS

SNP WELCOME FOR POST BANK PROPOSALS

MODEL MUST FOCUS ON NEEDS OF COMMUNITIES

SNP Postal Affairs Spokesperson Mike Weir MP has welcomed the UK Government’s consultation on developing Post Bank services but warned that the focus of the consultation must be on the needs of communities – not the needs of banks.

Commenting, Mr Weir, a long time advocate of the Post Bank model, said:

"The closure programme has decimated the number of Post Offices across the country. In many of these communities the "traditional" banks have also long since gone.

"We need to look to the future and see how new services can be introduced at the remaining post offices to build on the network for the future and also to provide much needed financial services.

"In many communities small businesses are finding it increasingly difficult to get finance from the large banks, despite the fact that they are now largely owned by the taxpayer. It is also clear that the large banks really do not always wish to engage with small savers and borrowers - their deals are all targeted at those who can deposit large sums every month.

"The Post Bank concept gives the opportunity to create a bank that will concentrate on small savers and small businesses, providing essential services in our communities.

"It is ironic that we are looking to recreate something that existed before it was sold off by the last Tory administration!"