Labour's candidate for the Hexham constituency, Joe Morris, has pledged to halt the decline of British high streets and reintroduce banking services to the Tyne Valley and beyond.

This ambitious new policy from Labour aims to ensure that businesses and working people regain access to nearby banking services.

The Labour party plans to speed up the introduction of 'banking hubs'. These hubs provide users the ability to deposit and withdraw cash, and avail broader banking services.

To prevent 'banking deserts', Labour commits to collaborating with banks and bringing in new powers for the Financial Conduct Authority, if required, thereby securing community access to in-person banking facilities.

Labour's plan could result in at least 350 of such hubs on local high streets.

Furthermore, these hubs, shared by leading banks, permit customers of almost every bank to utilise the hub.

Areas currently lacking high street banks will be priority in Labour's commitment.

Since 2015, Hexham constituency has lost 64.7% of bank branches, retaining only six, according to data from Which?

Labour’s Shadow Chancellor of the Exchequer, Rachel Reeves said, "Labour’s plan will bring banking services back to communities who have seen them disappear over recent years, meaning more people across the country will be able to access the services they need closer to home.

“Labour will tackle ghost high streets and ensure that every community has access to high street banking services.” 

Reiterating the necessity for this initiative, Labour's candidate for Hexham, Joe Morris said: “It’s clear that loss of bank branches is a cause of real concern in communities across the Tyne Valley and out further into Northumberland.

"We’ve lost branches across our communities in the last two years, leaving holes in our high streets and leading to people without internet banking feeling unable to access cash.

"It's a trend that particularly impacts the elderly and those on lower incomes."