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MP calls for review of banking hub rules for Bungay

Waveney Valley MP Adrian Ramsay says towns such as Bungay and Halesworth demonstrate the challenges rural communities face in accessing banking services.

Speaking at a House of Commons committee, Mr Ramsay highlighted the decline in banking provision in Bungay.

He said the town once had branches of HSBC, Barclays, NatWest and Lloyds, but now has none.

Despite the loss of those branches, Mr Ramsay said Link has concluded that Bungay does not meet the current requirements for a banking hub.

He has called on the government to review the criteria, arguing that market towns serving rural communities should not be left without access to face-to-face banking.

The issue is also relevant to neighbouring Halesworth, which faces similar challenges as traditional bank branches continue to disappear from smaller towns.

 

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