Labour's Post Bank plan 'would save 13 post offices across Mansfield and Ashfield'

The future of 13 post offices across Mansfield and Ashfield would be secured under a Labour government, the shadow chancellor has announced.

Friday, 14th June 2019, 10:54 am
The Post Office, in Mansfield Woodhouse.

They are included on a list of thousands across the UK which the opposition party plans to protect and turn into branches of a publicly-owned high street bank.

John McDonnell, the shadow chancellor, has announced a list of around 3,600 post offices which would become “Post Banks” under a Labour government – giving it the largest branch network of any UK bank.

Among them are eight branches in Mansfield and five in Ashfield.

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The Post Office, in Mansfield Woodhouse.

The party says that the publicly-owned bank would ensure that every community has easy access to face-to-face, trusted and affordable banking.

It would stem the tide of post office closures, unite important banking, business and community services under one roof and create skilled jobs, Labour said.

Mr McDonnell said: “We all love our local post offices, and this plan will protect them by giving them a vital extra role – providing our communities with face-to-face banking.

“This is a plan for defending our high streets. It keeps post offices safe for years to come and brings footfall back into our town centres.

"Plus it provides finance to local small businesses – especially cooperatives, companies that don't hurt the environment, and those that do research and development."

The Labour Party plans to give £2.5bn of initial funding for the Post Bank, to take over services currently offered through Post Office Money and end the existing partnership with Bank of Ireland UK.

A spokesman for the Post Office said: “We will of course continue to review these proposals with interest.

“The Post Office network is at its most stable for decades, and we committed to maintaining and growing our branch network, as well as supporting the postmasters who deliver vital services to communities across the country.

“Our network of 11,500 Post Office branches are the heart of community banking. 93 per cent of the population live within a mile of a Post Office branch providing vital to access to cash withdrawals, deposits and balance enquiries for 99 per cent of UK bank account customers."

The eight post office branches which would be saved in Mansfield are: Bull Farm, Carter Lane, Ladybrook Lane, Mansfield, Mansfield Woodhouse, Rainworth, Southwell Road and Warsop.

In Ashfield, the post office branches are Huthwaite, Hucknall, Kirkby, Station Road and Victoria Road.