Early Day Motion 1082 calling for a Post Bank has broken the 200-signature mark and rocketed into the EDM top ten.
The motion, signed by MPs from every major party in the Commons, calls for a state-backed bank to be established in the Post Office. The bank would provide a genuine alternative to conventional banking and tackle problems surrounding financial exclusion while providing security for the post office network.
Paul Reuter, Unite national officer, said: “There is clearly an appetite for a banking network that would reverse the trend of exclusion of local communities and improve services to small businesses, whilst at the same time supporting and maintaining the post office network. The Post Bank – at the People’s Post Office – offers an opportunity for social inclusion, security and innovation in the banking sector which Government must endorse.”
Lindsay Mackie, new economics foundation, said: “This is a fantastic demonstration of how highly MPs and their constituents value the potential of the Post Office. The Government would demonstrate their concern for what the country wants and needs, if it acted immediately on this EDM and set about creating a people’s Post Bank.”
John Wright, National Chairman of the Federation of Small Businesses, said: “It’s great to see MPs recognise that Post Offices play as essential role at the heart of our communities. Small businesses have told us that they would like to see banking services redirected through the Post Office and as many as two in five said they would bank with a Post Bank. We hope the Government recognises the high level of support from almost two thirds of all MPs for the establishment of a Post Bank, particularly from within its own party!”
Dot Gibson, National Pensioners Convention general secretary said: “It’s good to see that at least a third of MPs recognise the value of having a decent post office network that can offer secure banking facilities to local communities across the country. Now it’s time the government supported the idea as well.”
Billy Hayes, CWU general secretary, said: “Popular support in the Commons for a Post Bank is fantastic news. The need has never been greater to support local communities and businesses and provide trusted banking services. Establishing a Post Bank now would be a good move politically and financially for the Government.”
The Post Bank Coalition will launch a more detailed proposal for a Post Bank before the summer recess.
Please continue to put pressure on your MP and raise the issue in your trade union Branch and Constituency Labour Party meetings.