the Business Forum and
the Economic Partnership
in Brighton & Hove
Homepage    BCRP Intranet    Funding    Events    Knowledgebase    Links    About us     Contact us
Key projects
Crime
reduction
 


Inward
investment
information
 


Licensee
Forum
 

Workforce development 

Transport
 

Business &
climate
change

Property &
Development sites

Business
Improvement
Districts

Housing
 

Strategy
 

Consultation opportunities
 

Brighton & Hove Business Forum
8-11 Pavilion Buildings, Brighton, BN1 1EE
Tel: 01273 735442
Email: info@brighton
business.co.uk

© Brighton & Hove
Business Forum

News - 17 December 2009
David Lepper, MP

David Lepper supports move toward banking at the Post Office

David Lepper, Brighton Pavilion Labour and Co-operative MP, has spoken out in support of the concept of transforming the Post Office into a People's Bank. He has campaigned for new financial products and services to be made available from the Post Office and believes the time is now right to progress this idea.

David said, “Post Offices are a great British institution that has been part of our communities for over 300 years. I know how deeply people in our area care about the future of our Post Offices. That was shown in last year’s campaign attempting to save post offices.

“I have argued for years that there should be more financial services at the Post Office. I put this argument a couple of years ago when there was threat to the Post Office card account. Now new proposals could give people in the city access to a better range of banking products at an institution we trust and value.

“The Government consultation outlines a number of financial services that the Post Office could offer, including:

  • Post Office current account
  • Post Office children’s savings account – an account designed to encourage children to save through visits to their local Post Office.
  • Post Office business bank accounts – currently the Post Office offers access to business accounts from a few High Street banks. It could offer increased access to business accounts from other providers, as well as its own business account.
  • A weekly budgeting account – many low income households are unable to take advantage of the savings that can be made by paying for services by direct debit. One way to tackle this problem is by offering a simple account that could ring-fence a proportion of income each week, and then pay out bills by direct debit on a monthly or quarterly basis A closer link between the Post Office and credit unions: it can be difficult to access credit union accounts when people are not in their local area. The local nature of the Post Office makes it ideally placed to allow credit union savers to access their accounts across the country.
  • Working to ensure all banks’ current accounts can be accessed at a Post Office – currently 60% of current accounts (around 25m accounts) can be accessed at Post Office branches. The Government wants more banks to allow their current accounts to be accessible at the Post Office.

The Government consultation will be available from ww.bis.gov.uk/postofficebanking.

Hard copies (including alternative formats) are available on request. Leaflets giving an overview of the consultation and information about how to respond will be available in all Post Offices.”

Pat McFadden MP, Minister of State for Business, Innovation and Skills, added, “At a time when some banks and financial services companies are seeking to reduce face to face contact with customers, the Post Office stands out. It offers a trusted brand, and has more branches than the high street banks combined. It is ideally placed to bring banking services back to the heart of communities.”

Lord Mandelson, Secretary of State for Business, said, “Our consultation outlines exciting proposals, but I want people to have their say. This is an opportunity for communities to tell us what they want and need from their Post Office. Information about the consultation will be available in all of the network’s 11,500 branches.”


Read related items on:
Legal and financial services
Lepper, David


Browse our business Knowledgebase or search by keyword


Headlines

23 May 2018
Gingerman Restaurant Group to Open Restaurant at Hanningtons Estate Brighton
16 May 2018
Can you help us help rough sleepers? Search for a venue to provide shelter 15 May 2018
New Research Reveals Cost of Opening A Business in Brighton: £6,000 11 May 2018
Tech firm SaleCycle to open new office in Brighton, creating 30+ new jobs 4 May 2018
Get involved - National Numeracy Day This 16 May 1 May 2018
BUSINESS IMPROVEMENT DISTRICT INDUSTRY CELEBRATES 300 BIDS 1 May 2018
Barclays' High Growth & Entrepreneurs Awards 2018 launch to celebrate start-up leaders in the UK 30 April 2018
Barclays launches major drive to help SMEs tackle Cymbercrime 24 April 2018
An evening with Chris Fox, Lib Dem Peer 24 April 2018
"A triumph of innovation" 13 April 2018
Brighton city Centre Vacancy Rates continue to buck national trend 12 April 2018
The Ivy in the Lanes Set to open 2 May 2018 11 April 2018
Free Dr Bike Service Returns 20 March 2018
Brighton named most entrepreneurial city AND second best for student happiness according to Fresh Student Living 19 March 2018
A Meeting with Chris Fox, Lib Dem Peer - Why Business Matters 14 March 2018
Better Business for All Event with BEIS 7 March 2018
Brighton celebrates women in tech as Spring Forward festival returns for a fourth year 6 March 2018
Six months of success for BTN BikeShare 2 March 2018
Sustainability in Action masterclasses for Sussex businesses 2 March 2018
Doing Business in China comes to Brighton 1 March 2018
Brighton & Hove Chamber of Commerce presents: Protecting your brand- a guide for fast growth businesses 1 March 2018
Long haul passengers boost local economy and jobs, according to new Gatwick report on the 'Visitor Economy' 28 February 2018
Save time reporting crime 27 February 2018
Warren Morgan Resigns from Brighton & Hove City Council 23 February 2018
Brighton Technology Company, Paxton Ranks in Sunday Times 100 Best Companies to Work For 23 February 2018
Greater Brighton's Commercial Property Database 22 February 2018
SE-ASSIST - Launch of Loan Capital in Greater Brighton 19 February 2018
House Price update Q4 2017 19 February 2018
What would you do in a crisis? 19 February 2018
The investment journey for high growth entrepreneurs 9 February 2018
Make Change Count 2018 - helping rough sleepers in Brighton & Hove 8 February 2018
Brighton Technology Company Paxton Announces Recipients of New Scholarship Programmein Association with the University of Brighton 8 February 2018
Cyber London Accelerator Invites Summer 2018 Entries 8 February 2018
Innovate UK Launches Strand 2 Emerging and Enabling Technologies Sector Competition 8 February 2018
Success In Sussex As Food And Drink Heroes Crowned Winners 8 February 2018
UK Games Fund - Fourth Round Open to Applications 8 February 2018
Innovate UK & Prince's Trust Launch Young Innovators' Programme 6 February 2018
Brighton & Hove Food Partnership launches 'Kit Out The Kitchen' crowdfunding campaign 2 February 2018
Brighton & Hove Council and Crest Nicholson win £15m government funding to kickstart King Alfred project 1 February 2018
Could a Utilise Plus Programme grant help you?