Post Bank idea would be good for Highland post offices - Alexander

12.00.00am GMT Tue 17th Mar 2009

Danny Alexander, MP for Inverness, Nairn, Badenoch and Strathspey, has welcomed today's publication of The Case for a Post Bank which calls for the establishment of a publicly owned bank based on the Post Office network.

The report had been published by a broad coalition including the Communications Union, Federation of Small Businesses, New Economics Foundation, Public Interest Research Centre and Unite the Union. It calls for the Post Office to be strengthened by building up and extending its current financial services so that there is no need for further closures.

As well as securing the future of the Post Office network the Post Bank would have a responsibility to assist small businesses and those on low income who currently face financial exclusion. By allowing people and businesses to invest and save with confidence and security the Post Bank would help to underpin the economic recovery.

Commenting Mr Alexander said -

"This report is very welcome. The Liberal Democrats have long supported creating a Post Office based bank, and hopefully it is an idea whose time is coming.

"If we are to move out of recession it is vital that affordable credit is made available to individuals and small business. A national bank based on the Post Office's trusted brand and unrivalled reach would be the perfect way for the Government to get lending going again.

"This idea also recognises the vital social role that Post Offices play, something that people across the Highlands know only too well. Post Offices are essential to the future of our communities, and play a vital role for local people and businesses alike.

"Provided it is backed by wider government investment, a Post Bank would guarantee the future of the Post Office network. Labour's closure programme has been deeply damaging to many Highland communities. I hope the government will back this idea with the resources needed to make it work."

ENDS