MP Slams Lloyds Over Local Bank Closures

Lloyds Bank announced last week that it will close its branches in Ludlow and Leominster impacting residents in Knighton, Presteigne and the surrounding areas with bus journeys taking up to two and a half hours for elderly residents. This comes after Lloyds already announced closures in Presteigne itself and Brecon which will take effect this month.

In the far south of the constituency, Lloyds will also close its Pontardawe branch. Following the closure of the Lloyds in Ystradgynlais 2023 it means that the entire Swansea Valley will be left without a single bank.

During his speech, David Chadwick attacked Lloyds for closing yet more branches despite making £7.5 billion in profit and having received years’ worth of large tax cuts from the Conservatives.

David Chadwick described the impact the closures were having on elderly, vulnerable and digitally excluded people. He also described the significant impacts facing local businesses and accused the big banks of pilling additional costs on small high street businesses.

The Liberal Democrat MP also accused the Labour Government of failing to regulate the banks, giving them more powers but failing to set stronger requirements on the services local customers can expect.

Commenting, Welsh Liberal Democrat MP for Brecon, Radnor and Cwm Tawe David Chadwick said:

“Lloyds Bank are treating their customers with disdain. They make billions in profits every year and received large tax breaks at the public expense from the Conservatives, yet their answer is to shut their doors to local people.

“Labour has so far utterly failed to get to grips with this problem, giving the banks yet more powers instead of properly regulating minimum levels of service for customers.

“The Government has entirely forgotten it is them who regulate the banks, not the other way around.

“Local communities and businesses are being let down, the Government has the power to keep these branches open and should use those powers.”

ENDS