The Banks, in particular the recent announcement to close branches in Llandeilo and Ammanford are effecting the social fabric wellbeing of these communities and disadvantaging the Small Medium Enterprises that operate in our rural communities. What can you suggest we do to get them to reverse the decision and also prevent further bank closures?
Minutes:
The Executive Board received the following Question on Notice submitted by Councillor E.G. Thomas to Councillor E. Dole, Leader of the Council:-
“The Banks, in particular the recent announcement to close branches in Llandeilo and Ammanford are effecting the social fabric wellbeing of these communities and disadvantaging the Small Medium Enterprises that operate in our rural communities. What can you suggest we do to get them to reverse the decision and also prevent further bank closures?”
Response by Councillor E. Dole, Leader of the Council:-
The consensus I believe, is until the Westminster government strengthens the banking code, they will continue on the same journey and this will then mean that they will ignore the rural needs of our communities. For them this is a good thing to do, to close these banks.
Jonathan Edwards MP and Adam Price AM have asked on many occasions for a meeting regarding this and they have asked the Chief Executive of NatWest for a meeting to discuss the way banks are ignoring the needs of these rural communities.
Cymdeithas yr Iaith have also called on the Welsh Government to set a Bank for Wales in place, so that there is a way through that Bank to support our rural communities here. That of course came as a result of the news that Barclays is closing the last bank in Llandysul at the end of this year, which leaves Llandysul without any banks at all on the main street.
The Chair of Cymdeithas yr Iaith, Bethan Williams, in the context of closing this bank said: "Here we have the last bank in Llandysul announcing that it will close its doors, and the Post Office in the town centre will soon close and move to a supermarket outside Llandysul.”
The Chair FUW President Glyn Roberts has also talked out the banks that have closed and the effect on towns and neighbouring rural areas. He makes the point that the tax payers are still in ownership of many of these banks and is asking in that context that there are conditions set for the bail out which will ensure through that ownership that there will be way to ensure a continuation of the service of the rural areas.
The bottom line of the banks is profit and in the face of the kind of profit that they are announcing every year it’s shameful that they are so willing to ignore the needs of those people who depend on the services. I am sure this service will be reviewed in the context of the Rural Forum under the leadership of Cefin and as part of their key work in that area they are saying of course that the tendency is that everybody is moving to work online with the banking but when there is no sufficient broadband within rural Wales, that reason doesn’t stand up. So I am sure that is something that will be considered as part of the Rural Forum.
Personally, in my ward, I have seen HSBC closing in Tumble, all Members here in the Chamber, we have a right to respond to that as part of the consultation. I didn’t even get a response to the fact that I had sent a letter to them pointing out in the case of HSBC, that I had not once been in that bank at any point in the day without someone else being there as well. That bank was always very busy. But then again it was closed despite the fact that I had responded, other Councillors had responded and also that we as a council can respond to that consultation. That of course is the only thing we can do apart of course that we try to look seriously in the context of the Forum and the need and bring a firm recommendation before us here.
Apologies Edward, that is the only thing I can give to you as a response today, but to still encourage Adam and Jonathan to put pressure on the banks and possibly to look in more detail on the banking code and the needs of people across Wales wherever they do receive their banking services.